Below is a concise summary of the local market in both Chester and Delaware County for November 2022. 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:

As we approach the end of the year, it’s unsurprising that the market is slowing down as far as it is. New listings and closed sales both dropped again in November: 382 New Listings, 28.6% down from October & 36.9% from in 2021; 431 Closed Sales, only 4.9% down from October but 34.8% down from this time last year. The homes that did sell in November saw a rise in the median sold price AGAIN: Totaling $471,875, this is a slight uptick from in October (1.5% to be precise) and slightly more than this time last year (8.5%). These homes sold relatively quickly as well, with the average days on market coming to 19.

DELAWARE COUNTY MARKET UPDATE:

And this same trend is happening in Delaware County: The number of new listings dropped by 25.8% from in October and 31.6% from last year, totaling 431 homes. Closed sales dropped to 478, only 5.9% down from October but 32.7% down from last year. Home prices went up higher in Delaware County though! Coming to $309,500 for the median sold price, this is 8.6% higher than in October and 10.7% up from last year. Again, we saw these home on the market for a relatively short period of time: 20 days for the average.

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/