Chester County Real Estate Market Report Statistics for Jan 2013

Posted February 10th, 2013 by Nadia Huliai
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Chester County Real Estate Market Comparison Jan 2012 To Jan 2013

 

Here is the latest statistics about real estate market in Chester county presented by Nadia Huliai. This report shows you a comparison of settled real estate activity in Chester county, PA in January 2012 vs. 2013. You can see the number of settled units went up by 7 from 281 from 288.

There are couple of great news for home sellers and for those watching the real estate market.

  1. Sold prices are up by about %7-10 compared to last January. This is great news for sellers as you are getting more money for your home.
  2. More homes are getting sold quicker. There were 103 homes sold within 30 days of listing it compared to only 69 last year this tome. This is almost %50 jump and it is another great news for sellers.
  3. Less homes are sitting on the market unsold for 6 months or more.  Almost %39 drop in number of homes sitting in market over 6 months is another great news.

Homes selling quicker is a sure sign of having more demand from buyers in Chester county real estate market. This higher demand is driving the home prices up which is a great thing to hear if you are planning on selling your home.  Enjoy these statistics for now and let me know if you would like to see any other reports that I can post on my blog for you.

If you are planning to sell your home, don’t hesitate to contact me to help you list your home and market it in the most effective way.

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Jan 2012 Jan 2013 Change Ratio What Does it Mean?
Median Price (0-2 bedrooms) $190K $205K 7.9% Shows the Median prices are up by 3.8% to 9% compared to last Jan with 3 bedroom homes having
Median Price (3 bedrooms) $223K $243K 9.0% the highest price gain of 9% compared to 3.8% for 4+ Bedrooms
Median Price (4+ bedrooms) $345K $358K 3.8%
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Average Price (0-2 bedrooms) $183K $202K 10.4% Average prices are also up between 9.7% to 10.4% for 2 to 3 bedroom homes but no change in 4+
Average Price (3 bedrooms) $226K $248K 9.7% bedroom prices.
Average Price (4+ bedrooms) $404K $404K None
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Days On Market (0-1 month) 69 103 49.3% Huge!!! Great news for sellers which means %50 more homes are selling within 30 days of listing them.
Days On Market (1-2 months) 44 41 -6.8%
Days On Market (2-3 months) 45 40 -11.1%
Days On Market (3-4 months) 26 24 -7.7%
Days On Market (4-6 months) 43 47 9.3%
Days On Market (6 months +) 54 33 -38.9% Great News! %40 less homes are sitting on the market as unsold for more than 6 months.
Homes Settled 281 288