Chester County Real Estate Market Statistics July 2009

During the month of July 2009, there were 810 single family homes that went on the market for sale in Chester County. The average listing price was $440,000. There were 492 units that sold during the month of July 2009 for an average price of $363,000.

There was not a dramatic change from 2008 in inventory or sold price. As a matter of fact, in July 2008 homes sold on average of only $4,000 less at $367,000. The number of units sold in July 2008 was a little bit more in 2008 at 544 units.

One always asks, “Where is the real estate market going in our area like Chester County?” And boy do I wish I could answer that one! I notice when the inquiries of homes for sale increase. I notice when there are more showings on current homes I am marketing for sellers. But it seems to change with the weather – and there isn’t a formula of prediction. I hope we will continue to see increased home sales for Chester County, as we have since September 2008.

Again, these statistics are more accurate taken down on a much more localized area. For a report by neighborhood or township – you can email me or leave a comment.

Information obtained from TReND MLS – deemed reliable but not guaranteed.

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Real Estate in Chester County spreads over approximately 486,000 acres and according to the 2008 census home to 491,489 people.

When out showing houses with clients in Downingtown, PA yesterday, we discussed the different values around Chester County. The median sold price in the county for June 2009 was $349,000. So let’s take a look at what you can buy for $349,000 around the different parts of Chester County. If you would like a more “bird’s eye” view on your township or neighborhood, let me know. It would be interesting to zone in, because you’ve heard me say before, “Real Estate is very local.”

What house could I purchase in Chester County for $349,000?

The following table is based on Single Family homes for sale in Chester County, the school districts specified with the price from $349,000 – $350,000. What can you buy from the Main Line out to Oxford ?

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When I signed into my MLS system today, I noticed a new Market Statistics at a glance and I thought it would be perfect to highlight the figures here on WestofPhillyBurbs.com.

As always, if you have particular questions – because the real determinations are very localized – don’t hesitate to ask in an email or comment for a write up on your township, neighborhood, town.

All based on Single Family Homes in Chester County

Chester County Inventory of Houses for Sale

February 2008 3,507 (Accumulation 7.9 months)
February 2009 3,463 (Accumulation 9.6 months)

The Inventory Accumulation is based on how long it is calculated to sell the current inventory at the current rate of sales.

Chester County Market History

Settled in February 2008 285 (Median Price $309,000)
Settled in February 2009 199 (Median Price $267,000)

Year to Date in Chester County

Jan-Feb 2008 534 (Median Price $310,000)
Jan-Feb 2009 401 (Median Price $285,000)

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The number of Listings decreased by 282 units when you compare January 2008 to January 2009. This could be for a number of reasons – including that many sellers who are selling now want to sell their home. They are not testing the real estate market.  The amount of homes that sold relative to the number listed did not vary too much from 2008-2009. Neither did the Days on Market (DOM).

Real Estate Report of Monthly Statistics

Criteria searched was $100,000 – $1,000,000.  All Residential Real Estate in Chester County Statistics.

Chester County PA includes the following areas: Atglen, Avondale, Birmingham, Caln, Charlestown, Coatesville, Downingtown, E Bradford, E Brandywine, E Caln, E Coventry, E Fallowfield, E Goshen, E Marlborough, E Nantmeal, E Nottingham, E Pikeland, E Vincent, E Whiteland, Easttown, Elk, Elverson, Franklin, Highland, Honeybrook, Kennett Square, L Oxford, London Britain, London Grove, Londonderry, Malvern, Modena, N Coventry, New Garden, New London, Newlin, Oxford, Parkesburg, Penn, Pennsbury, Phoenixville, Pocopson, S Coatesville, S Coventry, Sadsbury, Schuylkill, Spring City, Thornbury, Tredyffrin, U Oxford, U Uwchlan, Uwchlan, Valley, W Bradford, W Brandywine, W Caln, W Chester, W Fallowfield, W Goshen, W Grove, W Marlborough, W Nantmeal, W Nottingham, W Pikeland, W Sadsbury, W Vincent, W Whiteland, Wallace, Warwick, Westtown, and Willistown.

Click Here for a Delaware County Real Estate Market Report.

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