Is Downingtown, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Downingtown was a Seller's Market.
Key Takeaway
Downingtown is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Downingtown, PA
How much do homes in Downingtown, PA cost?
Median Sold Price
$521,975
$221/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Downingtown have sold for 22.8% more than they did a year ago.
Summary: The median home sold price in Downingtown was $521,975 in March 2024, up 22.8% from last year, and the median price per square foot was $221.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $135K | $166.7K | +23.5% |
| 2 Bedrooms | $342.5K | $376.5K | +9.9% |
| 3 Bedrooms | $375K | $434K | +15.7% |
| 4 Bedrooms | $525K | $625K | +19.0% |
| 5+ Bedrooms | $775K | $851K | +9.8% |
Summary: Downingtown housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.5%, 2 bedroom homes increased by 9.9%, 3 bedroom homes increased by 15.7%, 4 bedroom homes increased by 19%, and 5+ bedroom homes increased by 9.8%.
Median Sold Price Compared To Nearby Cities
| Downingtown | $425K | $521.9K | +22.8% |
| West Bradford Township | $483K | $558.5K | +15.6% |
| East Caln Township | $432K | $420K | -2.8% |
| Caln Township | $375.2K | $360K | -4.1% |
Housing Supply in Downingtown, PA
How many homes are available in Downingtown, PA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 164 | 171 | +4.3% |
Summary: The Downingtown real estate market had 171 homes for sale in March 2024, a 4.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 19 | 20 | +5.3% |
| 3 Bedrooms | 81 | 84 | +3.7% |
| 4 Bedrooms | 47 | 46 | -2.1% |
| 5+ Bedrooms | 16 | 19 | +18.8% |
Summary: The Downingtown housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 5.3%, 3 bedroom homes increased by 3.7%, 4 bedroom homes decreased by 2.1%, and 5+ bedroom homes increased by 18.8%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 32 | 27 | -15.6% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Downingtown, you could pay more than the asking price. 51.9% of homes here sold above asking price last month.
Summary: A total of 27 homes were sold or pending in Downingtown in March 2024, down by 15.6% month-over-month. Of the 27 sold homes, 30% were sold under asking, 19% were sold at asking, and 52% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 15 Days | 18 Days | +24.9% |
Summary: Homes in Downingtown had an average of 18 days on market in Mar 2024, up by 24.9% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Downingtown are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 27 homes were sold in Downingtown; 85% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
