Chester County homes for sale now stands at a 12.3 month inventory. what this means is that if no other homes came on the market it will take 12.3 months to clear the backlog of homes for sale. That is 2 months more than July 2010. There are actually 4035 homes for sale according to the market data from Trend MLS, that is 85 more than this time last year. Making your home stand out in the crowd is difficult but not impossible. As you can imagine the days on market have increased as well as the absorption rate mentioned above. 399 homes sold in July, 72 more than July 2010, median price dropped by just under 8% compared to 2010 and the price realized at sale as a ratio of the asking price was a little lower in 2011 92.3% compared to 92.7% last year.
Year to date, 235 less homes have sold than by this time last year and the price realized at sale compared to listing price was much lower at 91.46% compared to 93.53% last year. None of this is really news to anyone, we all know the economy is suffering and it is hard to get mortgages, but if your credit is decent you can get financing and make a move to a new home.
If you need help finding financing to buy we have many local connections, and we have been successful making our clients homes stand out from the crowd as well. Just give us a call and we will be happy to meet with you to discuss your needs.
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