The weather is cooling down but the market is still hot! 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 September there was a total of 874 homes put up for sale on the market. The median sold price was $395,000 - 3.9% higher than in 2019 and slightly less than in August (by 1.3%). The number of closings went up 41.7% from last year with a total of 785; though, that is 15.9% lower than in August. Homes are again averaging 31 days on the market, which is significantly lower than last year (52 days on the market in September 2019). Even though the median sold price went down in September, it’s still higher than in past years. Typically the fall isn’t as active, where as this year, the seller’s market continues through the fall months.
DELAWARE COUNTY MARKET UPDATE:
In Delaware County, 878 new listings were put up on the market, which is 8.1% higher than last year. A total of 706 homes sold (31.2% higher than last year but 9.9% lower than in August) at a median sales price of $265,000. Just as in Chester county, the sold median price is lower than what we found in August; however, it’s still 24.4% higher than in 2019. In addition, the average days on market is still low at 23 days. Both counties are still experiencing a strong seller’s market.
Cite: The above statistics all brought to you by Suburban West Realtors Association: http://www.suburbanwestrealtors.com/industry-info-expertise/local-market-statistics/