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:

The market appears to be fluctuating a bit. Stats in May for Chester County shows a couple of signs of this and it may continue over the next few months but at a slow pace. Take a look: A total of 776 homes went up for sale, which is up 2.0% from in April but 23.2% down from last year. Closed sales totaled 568, which was 5.8% higher than in April (14.8% down from last year). Median sold home prices went back up but only slightly, 3.3% up from in April. Coming to $465,000 this is only about 9.3% higher than this time last year. The list to sold ratio is still at a record high however, coming to 104.6%. And if you didn’t think it was possible, homes are coming off the market even faster than in April, averaging 13 days!

DELAWARE COUNTY MARKET UPDATE:

In Delaware County, we saw more evidence that the market is beginning to shift/change. Inventory is down 3.9% from in April, which is also 16% lower than last year, totaling 799 listings. The number of homes that sold in May came to 613, which is up 10.5% from in April but 7.5% down from last year. The median sales price is still rising, though again at a slower pace: Totaling $320,000 - which is 7.7% higher than in April but 18.5% higher than the year before. These homes only last on the market 16 days on average before going under contract.

It’s important to team up with real estate experts no matter if you are buying or selling. Allow our team to guide you through the process and ensure no details get missed.

Cite: The above statistics all brought to you by Suburban West Realtors Association: https://tcsr.realtor/industry-info-expertise/local-market-statistics/