Is Downingtown, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Downingtown has remained a Seller's Market.
Key Takeaway
Downingtown is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Downingtown, PA
How much do homes in Downingtown, PA cost?
Median Sold Price
$520,409
$225/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Downingtown have sold for 16.8% more than they did a year ago.
Summary: The median home sold price in Downingtown was $520,409 in April 2024, up 16.8% from last year, and the median price per square foot was $225.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $135K | $178.7K | +32.4% |
| 2 Bedrooms | $310K | $383.8K | +23.8% |
| 3 Bedrooms | $403.5K | $426K | +5.6% |
| 4 Bedrooms | $540K | $610K | +13.0% |
| 5+ Bedrooms | $820K | $851K | +3.8% |
Summary: Downingtown housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 32.4%, 2 bedroom homes increased by 23.8%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 13%, and 5+ bedroom homes increased by 3.8%.
Median Sold Price Compared To Nearby Cities
| Downingtown | $445.5K | $520.4K | +16.8% |
| West Bradford Township | $500K | $550K | +10.0% |
| Caln Township | $377.7K | $362.5K | -4.0% |
| East Caln Township | $463.5K | $408K | -12.0% |
Housing Supply in Downingtown, PA
How many homes are available in Downingtown, PA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 121 | 145 | +19.8% |
Summary: The Downingtown real estate market had 145 homes for sale in April 2024, a 19.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 10 | 8 | -20.0% |
| 3 Bedrooms | 63 | 68 | +7.9% |
| 4 Bedrooms | 32 | 53 | +65.6% |
| 5+ Bedrooms | 14 | 15 | +7.1% |
Summary: The Downingtown housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 20%, 3 bedroom homes increased by 7.9%, 4 bedroom homes increased by 65.6%, and 5+ bedroom homes increased by 7.1%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 32 | 49 | +53.1% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
33 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Downingtown, you could pay more than the asking price. 67.3% of homes here sold above asking price last month.
Summary: A total of 49 homes were sold or pending in Downingtown in April 2024, up by 53.1% month-over-month. Of the 49 sold homes, 22% were sold under asking, 10% were sold at asking, and 67% were sold over asking.
Days on Market for Downingtown, PA
How long does it take to sell a home in Downingtown, PA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 11 Days | 11 Days | 0.3% |
Summary: Homes in Downingtown had an average of 11 days on market in Apr 2024, up by 0.3% compared to last year.
Breakdown of Home Sale Times
44 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Downingtown are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 49 homes were sold in Downingtown; 90% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.
