Sales have been fairly brisk this year, that is until July when the market slowed down again. Inventory accumulation along the Main Line is a good indication of where the market currently is and how long it will take to sell a home on average.
Montgomery County: 8 Days on market 83
Delaware County: 9 Days on Market 83
Chester County: 10 Days on market 85
In the tri-county area Montgomery seems to be doing slightly better, and sales over this year bear that out as well. Overall we have seen days on market rise compared tomprevious years, this is how long it is gooing to take a home to sell on average comparing all homes in each county. Chester County seems to be struggling, with a 10 month inventory accumulation and price per sq foot in Easttown and Tredyffrin townships has fallen compared to Radnor and Lower Merion where it had risen indicating prices have stabalized compared to Easttown and Tredyffrin where prices are still under pressure. Other local townships have been fairly stable. But always remember real estate is local and in many cases hyper local so each situation is different.
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