Below is a concise summary of the local market in both Chester and Delaware County for September 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’ve been saying it - the market is slowing down; however in a lot of cases, it’s still up from last year. Take a look: 592 homes went up for sale, which is up just 1.0% from in August but 23.2% down from last year. 541 sales closed - down both from last month and last year (20.6% and 26.8% respectively). The interesting dynamic is with the median sold home prices: Averaging $447,000, it’s down only 5.1% from August BUT 6.3% higher than this time last year. The list to sold ratio dropped very slightly, coming to 101.2% with homes lasting on the market a bit longer - averaging 17 days.

DELAWARE COUNTY MARKET UPDATE:

In Delaware County, we saw the same downward trends with the same exceptions: Inventory went up 7.2%, which was 19.6% lower than last year, totaling 656 listings. The number of homes that sold in September came to 566, which is down 19.4% from in August and 18.4% down from last year. Again the Median Sold Price is the surprise: $276,500 was the average, which was 15.7% down from August BUT 5.2% higher than last year. These homes were on the market for an average of 21 days, much longer than in past months. The list to sold ratio is trending down as well, coming to 99.3%.

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/