Archive for July, 2022

West Chester PA Home Sale Update

July 18, 2022

West Chester has long been a popular housing choice in Chester County. It is the county seat of Chester County, the home to West Chester University, and is rich in dining and entertainment options.

As seen throughout the county, the housing market remains very active in the Borough with relatively stable sales and rising average prices over the last several years. From the attached chart, average prices from 2017 through 2021 rose over 22%. Year to date they have continued to rise to an average of $573,000 but this will come down a bit as there are an additional 15 properties under contract with average list prices of $445,000.

In addition, there are currently 14 properties on the market with prices ranging from $324,000 to over $1,000,000 with styles and options to cover most needs – all within easy access to the dining, entertainment, and nightlife that West Chester has become known for.

If you are looking for properties in Chester County, be sure to visit West Chester and investigate all your options. You will not be disappointed

David Henke
Long & Foster Real Estate Inc – Wilmington, DE/Devon, PA
Office: 610-225-7400/Direct: 610-618-0808
http://www.DelawarePAHomes.com

(All statistics per the BrightMLS System and believed accurate but not guaranteed)

Chester County PA Home Sales Update

July 13, 2022

For the first half of 2022, the Chester County PA housing market continues to be strong but appears to be constrained by very limited inventory.

Currently, there are only 672 properties on the market compared to 852 properties in 2021 – down 22%. Active inventory is also down 46% from 2020 and 73% from 5 years ago in 2017.

As seen on the attached chart, overall sales and pending sales have been much more consistent. Even with the drop in inventory, there has only been a 5% drop in sales and 23% drop in pending sales.

Overall, we are continuing to see strong demand throughout the area. The recent increase in housing prices and interest rates are having an impact but demand continues to out strip supply. Multiple offers, limited inspections, and all cash offers continue to be common.

As always, please feel to reach out if you have any questions or are considering a move.

David Henke
Long & Foster Real Estate Inc – Wilmington, DE/Devon, PA
Office: 610-225-7400/Direct: 610-618-0808
http://www.DelawarePAHomes.com

Happy 4th of July 2022!

July 4, 2022

Beautiful day for the 4th! Relax & Enjoy!

David Henke
Long & Foster Real Estate Inc – Wilmington, DE/Devon, PA
Office: 610-225-7400/Direct: 610-618-0808
http://www.DelawarePAHomes.com