March Market Update: Prices Surge in Downingtown!

Spring is already heating up the real estate market in Downingtown Area School District! In March, we saw 42 homes close, a slight uptick from 39 in February. But here’s where it gets exciting: the average sale price jumped nearly $50,000 – from $554,326 to an impressive $602,300!

So, what’s driving this surge? A big part of the story is the luxury market. The number of homes selling over $700,000 nearly doubled, leaping from 8 in February to 15 in March. And buyers are showing up strong – more than half of the homes sold above asking price!

Let’s take a quick look back: in March 2024, there were 47 closed sales with an average price of $557,497. Then came April, and boom – the market took off with 66 homes sold, a jump of 19 sales in just one month.

Will we see a similar surge this April? It’s certainly possible – and if it happens, you’ll want to be ready.

Thinking of buying or selling this spring? Let’s chat and create a strategy to make the most of this fast-moving market. I’d love to help you take advantage of the momentum! Reach out to me today.