Even in the midst of COVID-19, many are still buying and selling homes. Below is a concise summary of the local market in both Chester and Delaware County for the First Quarter of 2020. 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:

Over the past several months, we have seen an active market in Chester County despite the restrictions put in place due to COVID-19. A total of 2,476 homes were listed since January of this year. During this same length of time, 1,808 homes were sold! These numbers aren’t as high as in past years but are still not as significant of a drop as would have been expected. In addition, the average sold price for homes that went to settlement during this time came out to $398,043 (that’s a pretty great number!). While it’s a bit more difficult to obtain a home loan at this time, the rates are still low! That means there are still qualified home buyers looking for a new home. The market is still functioning well so selling your home is an option for any homeowner who is ready for their next chapter.

DELAWARE COUNTY MARKET UPDATE:

Delaware County’s real estate market showed similar numbers despite the difficulties we have faced. 2,257 homes were put on the market since January of this year. A total of 1,766 were sold during this time, averaging $288,434 as the final sales price. While the number of homes on the market has decreased in comparison to past years, the number of homes sold at this time is actually higher than last year. This proves that no matter what is going on around us, if we persevere and become innovative we can still accomplish our goals. If you are ready to sell, don’t wait! Let’s get you started today!

Cite: The above statistics all brought to you by Bright MLS Market Reports: www.brightmls.com