Chester County Home Sales Update First Half 2017

By
Real Estate Agent with Long & Foster Real Estate, Inc

For the first half of 2017, the Chester County housing market continues to strengthen and looks to remain strong through the balance of 2017.

As of July 1 throughout Chester County, there were 2,541 properies currently on the market, 1,271 homes under contract, and 3,421 homes had settled at an average sales price of app $368,000.

Chester County Visitor Center Longwood PAThis compares to July 1, 2016 when there were 2,858 active properties, 1,323 under contract, and 3,147 properties had sold with an average sales price of $356,000. This indicates a 12% drop in inventory, an 8% rise in sales, and a 3% rise in price in 2017.

For more perspective, if you go back 5 years to 2012 on July 1, there were 3,669 properties on the market, 867 under contract, and 2,452 had settled with an average sales price of approximatley $327,000. Between 2012 and 2017, this shows a 31% drop in inventory, a 46% rise in properties under contract and a whopping 39% increase in completed sales with a 12% rise in average prices.

These are all strong numbers but it must be remembered that this covers the entire county so individual areas have seen a much broader range of price changes and activity, both good and bad. Just a quick update of the raw numbers as we head into the second half of the year.

I hope everyone is having a great year!

 

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

 

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

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David Henke

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