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

We saw some interesting trends last month! While new listings dropped to 535 homes (down 9.6% from September & 23.7% from last year) AND the number of closings dropped to 453 (down 16.3% from September & 34.7% from last year), the median sold price went up! Coming to $465,000, this is 4.0% higher than September AND 9.4% higher than last year. Unsurprisingly, the list to sold ratio stayed about the same dropping slightly to 100.2% and homes stayed on the market by 1 extra day - coming to 18 days on average.

DELAWARE COUNTY MARKET UPDATE:

Delaware County, showed the same trends: The number of new listings dropped by 11.4% from in September and 26.1% from last year, totaling 581 homes. Closed sales dropped to 508, 10.2% down from September and 24.5% from last year. But the median sold price is up again! Coming to $285,000 - it’s up 3.1% from September and 3.6% from last year. It’s not a huge jump but it’s still an increase. With that, the average sold to list ratio came to 98.7% with those homes staying on the market for an average of 21 days.

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/