It was an interesting month in November for the real estate market. 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:

In November there was a total of 579 homes put up for sale on the market, this is a 33.2% drop from last month. This drop in inventory is typical for this time of the year. The median sold price was $375,000 - only 1.4% higher than in 2019. The number of closings totaled 691, which is 36.8% higher than last year. These homes averaged 24 days on the market, which is lower than last month and last year at this time. Inventory is low but homes are selling fast and for top dollar, meaning the seller’s market is still active.

DELAWARE COUNTY MARKET UPDATE:

In Delaware County, 629 new listings were put up on the market, which is 19.4% higher than last year. A total of 669 homes sold (39.7% higher than last year) at a median sales price of $252,000. This a nice jump, 2.9% higher than last month and 12% higher than last year. In addition, the average days on market also went down to 26 days.

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