If you are contemplating buying or selling a home, then you are probably wondering what the market is like. Below is a concise summary of the local market in both Chester and Delaware County. Do you have a specific township or neighborhood in mind? Contact us today and ask for our Market Snapshot of your desired area!

CHESTER COUNTY MARKET UPDATE:

2019 ended with low inventory (houses on the market), which is normal for that time of the year since many people don’t want to have showings during the holidays. However, those who did list in December saw it on the market for a shorter time period than last year. Also these homes sold for higher price points than last year with an average price $24,000 higher than in 2018. Most homes sold for around $200,000 - $399,000. Recent trends show that homes are selling at higher prices and with low inventory there isn’t as much competition. Now is a great time to sell your home!

DELAWARE COUNTY MARKET UPDATE:

The real estate market in Delaware County was very interesting in December. Inventory was really low and sat on the market for a longer than in November but still lower than in 2018. However, the number of settlements or closings in December was higher than in November with sales prices either under $150,000 or between $200,000 - $299,000. The average sales price was still $10,000 higher than in 2018. There was a rush to close out 2019 with sales and with the inventory so low, there will be a rush to buy your home if you put it on the market.

Cite: The above statistics all brought to you by Suburban West Realtors Association: http://www.suburbanwestrealtors.com/industry-info-expertise/local-market-statistics/