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Chester County and Suburban Philadelphia Summer market update

By
Real Estate Agent with Realty ONE Group Advocates 484-237-2055 PA License - AB067198

Summer 2022 Main Line Real Estate Market Update

Giving you the confidence to make the right decision

 

Take a look at The Chester County Monthly Statistics. Median home values have risen by almost 15%, inventory available has increased slightly. This is a great example of what we see happening across our neighboring local counties, Montgomery and Delaware Counties too. Let me know if you want to see your local information.

 

 The market is cooling off after being incredibly hot for almost two years

  • When you look at the same week last year: -
  • Closed cases were down 22%,
  • Pending sales were down 23%,
  • Days on market is up by three days,
  • New listings are down 22%,
  • Showing activity is down 27%,
  • Inventory is up 28%.
  • 45% of the houses on the market in July in our footprint reduced their price

If you are thinking of selling, now is the time to see what your home may be worth in today’s market.

 Or, if you are looking to buy, I have successfully cut through the crowded buyers’ market and settled my clients in the perfect new homes for them.

 I’ve lived in the Main Line area for over 30 years now, and I know the area well. I relocated here from England with my family when my three boys were young. They all attended Main Line schools, and thanks to the excellent education that this area provided them, I’m proud to say that all three sons have done well. All three are married, and I’m happy to now have five grandchildren – three grandsons and 2 granddaughters! In short, as a realtor with extensive experience in this area, I know what’s most important from a real estate perspective to those who live here or are looking to relocate here. But perhaps even more importantly, as a husband and father, I know the true value of raising a family in the greater Main Line area, a part of the world that reminds me so much of the lovely area where I grew up in suburban London.

 

Please contact me at my website, www.SellingTheMainLine.com. Or you can email me personally at Nick@VandekarTeam.com and call or text me at 610-203-4543.

 

I look forward to assisting you in all of your real estate needs –

 

 

Posted by

 

Nick Vandekar
Nick is a Tredyffrin Easttown Residential and Commercial REALTOR selling The Main Line, Chester, Delaware and Montgomery Counties.

Giving you the confidence to make
the right decisions.

225 W Uwchlan Ave
Downingtown , PA 19335
Office 484-237-2055
SellingTheMainLine.com
Mobile: (610) 203-4543 [call or text me]
Email Me

 

My Blog

   

If you are buying or selling on or around
Tredyffrin Easttown or along the Main Line, 
I can help you, contact me.

Comments (13)

Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Good morning, Nick... sounds a lot like our market here in the Charlotte region... but I don't think we have as high a percentage of price reductions (at least not in the areas I focus on).

Aug 09, 2022 07:54 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Good Morning Nick and thank you for the great information in your blog to share with us here in the Rain.  Make it a great day!

Aug 09, 2022 07:56 AM
Nick Vandekar, 610-203-4543
Realty ONE Group Advocates 484-237-2055 - Downingtown, PA
Selling the Main Line & Chester County

Nina Hollander, Broker that is across our brokerage area, so a pretty large swath including NJ, DE, PA MD DC, and West Virginia and Virginia too. Locally we are seeing price drops but things are still strong.

Will Hamm thank you, the market remains robust.

Aug 09, 2022 08:03 AM
Roy Kelley
Retired - Gaithersburg, MD

Families on the move will appreciate your local real estate reports.

Aug 09, 2022 08:14 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nick, looks and sounds like your market is very sound, and not seeing much softening just yet.

Aug 09, 2022 09:19 AM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Nick, Both home buyers and home sellers will appreciate your knowledge in the Chester County and Suburban Philadelphia summer housing market. We are not seeing our market soften yet, but know it may be on it's way from what I've been reading on A/R!

Aug 09, 2022 10:14 AM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

I am a sucker for a spreadsheet and you did a very thorough job of making your point. Well done Nick 🙂

Aug 09, 2022 05:05 PM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Seeing home values rise 15% in a market that is supposedly beginning to flatten certainly is something.

Aug 10, 2022 05:14 AM
Nick Vandekar, 610-203-4543
Realty ONE Group Advocates 484-237-2055 - Downingtown, PA
Selling the Main Line & Chester County

Roy Kelley I appreciate your comment.

Joan Cox it is still a matter of having listings. The market is rolling on, sellers just have to be aware of the market condition.

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400 the same for us, the market is robust, yet slowing down a little.

Paul S. Henderson, REALTOR®, CRS I always like to include a visual, I actually updated this in my newsletter with a new visual from our MLS which is more colorful.

Brian England   Interestingly our MLS had another visual for the whole Philly Metro area that showed prices increasing 7.5%, but that is not bad either.

Aug 11, 2022 03:31 PM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Nick Vandekar, 610-203-4543 - your background with extensive family experience in this area makes you the perfect choice for buyers moving to the area and sellers selling. Knowing the school system, what makes kids happy, how to get acquainted with this location - you know all that and you are the expert and most likable and approachable REALTOR for clients. 

Aug 12, 2022 02:46 AM
Nick Vandekar, 610-203-4543
Realty ONE Group Advocates 484-237-2055 - Downingtown, PA
Selling the Main Line & Chester County

Patricia Feager, MBA, CRS, GRI,MRP thank you, I have lived here now more than anywhere else in my life. We move to our new home this weekend, so busy with boxes etc. this weekend.

Aug 12, 2022 10:29 AM
Roy Kelley
Retired - Gaithersburg, MD

Good Tuesday morning, Nick.

Have a great day and a very productive week.

Aug 16, 2022 08:52 AM
Nick Vandekar, 610-203-4543
Realty ONE Group Advocates 484-237-2055 - Downingtown, PA
Selling the Main Line & Chester County

Thanks Roy Kelley have moved house this week so a little tardy with response.

Aug 18, 2022 06:00 PM