October 2011 West Chester Real Estate Market Conditions

November 28, 2011

November 2011 - West Chester, Pa. 19380, 19382, 19395 – Real Estate Market Conditions

In the month of October the following conditions existed in West Chester:

Number of Homes for Sale - 645

Number of Homes Sold - 60

Average Days on Market – 118

Median Sale Price - $312,500

Median Settled Price - $285,000

The Total number of homes available this month is lower by 83 units or 11% versus last year’s total number of 728 homes available for sale. This month’s total of 645 is lower than September’s supply of 674 a decrease of 4%.

This month’s total units sold were lower than last month which was 79 units and also lower than October 2010. A decrease of 5%.

This month, the average number of days on market was 118, higher than the average last year, which was 88, an increase of 34%.

The Median Sale Price last year was $330,000 so there was a 5% decrease or $17,500 compared to last year. The current median Sold Price is 4% lower than in September.

This month there were 112 new listings for sale in West Chester compared to 127 in October 2010, a decrease of 12%.

A quick note about Chester County

Settled units in the county increased nearly 14% October compared to October 2010.

In October 2011 in Chester County 3,422 units settled versus 3,529 in 2010.

The sale price in Chester County was $359,000 down from $369,000 in October 2010.