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Chester County Real Estate Statistics: July 2010 Comments Off

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The Chris & Caleb Team Assessment: More of the same, Move up Sellers/Buyers have opportunity…

We are pretty optimistic guys, and while the July stats are not “Doom and Gloom”, it definitely ain’t pretty either! Let’s take a look. . .

PENDINGS:

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Pending indicates future closed sales. We at the Chris & Caleb Team refer to this as “Intended Demand”. Pending stats continue to climb out of the incredible hole that the tax credit put it in. Pendings grew to the 350 mark in July, but as you can see, it is still a good way away from where the 5 year trend is and even last years numbers. So, while it is a good sign that pendings are increasing, they are still way off the norm, indicating a slower than usual market.

CLOSED SALES:

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Closed Sales or “Demand” for homes in July was way down. We have been warning of this for the last several months after we saw the pendings drop off after the end of the tax credit. It was only a matter of time before the drop caught up with actual closed transactions. Closed sales were off almost a WHOPPING 40%! But, as we have seen in Pending Sales indicators, this number will most likely not stay down that far for long. We feel strongly the rest of 2010 will most likely be off by about 20% or more in closed sales.

ACTIVE LISTINGS/SUPPLY:

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This number is the probably the most concerning of all the numbers we see. Right now the number of homes for sale is roughly 12% over what the 5 year trend is, and easily the most we have seen in recent history. Economics 101 – Demand slows, supply increases – it means prices come down and everything slows down. With recent news that experts say that the 2011 economy is going to be worse than this years, these numbers are not good. Buckle up folks, as if things are tough already, it’s gonna get tougher.

AVERAGE SOLD PRICE:

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The average sold price is much more of an indicator as to what price range is selling than it is of what our homes are worth in Chester County. It appears that in July, higher end homes were the hot ticket item. We believe this was driven by “Move Up” seller/buyers who were selling their “First time home buyer” homes to Tax Credit buyers and then looking for a larger, move up home. In addition, interest rates have been extremely attractive for higher end buyers who have been on the fence, just waiting for such a time. It is very likely that August’s numbers will rejoin 2009′s numbers.


What Does This Mean?

For Sellers: Unfortunately, nothing new for seller’s. Not to be a broken record, but if you don’t have to sell, you probably shouldn’t. We will say this, one type of home owner that would greatly benefit from selling right now would be what we call a “MOVE UP SELLER/BUYER”. This is someone who has outgrown their current home for one reason or another and wants to buy a larger house. While you won’t get as much for you home as a few years ago, the same goes for the home you want to buy, if not more so. If your home’s value has declined 5% in the last several years, you can be that the larger home that you want is even more on sale. Plus 5% at $200k vs 5% at $400k is quite a difference. Factor in the incredibly low interest rates (4.5% conventional) and this could be the deal of the century. If you are considering selling your home but don’t think you can get enough for it, please contact us. We can get you the insight and advice you need to make the best decision possible. We expect the market to be “depressed” for another several years, possibly as many as 4 or 5. But that also means that what you are going to buy will be “on sale” as well. You may make out better now, than you would in several years. But to know that for sure, let us get you the facts and information you need to make that educated decision.

For Buyers: For those lucky few who are qualified and ready to buy, this in an incredible time to do so. Mortgage rates are historically low at 4.5% for 30 yr conv. or 3.8% for 15 year fixed. With inventory going up, seller’s will have more and more competition which means their prices will have to come down. BUT – you must make sure you align yourself with the right agent. We are confident that we are those agents. To know what your next steps are just get in contact with us!

Next Steps:

BTW, We do have very specific data for every price range and area of town. Want specific data pertaining to your neighborhood or your own home? We have it! Please let me know if you would like a neighborhood-specific analysis by contacting me!

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Posted on: 08-16-2010
Posted in: Chester County, Market Update, Monthly Update, News

1st Quarter 2010 Market Stats for Chester County by School District Comments Off

Good news y’all – the market seems to be on the upswing (including mortgage rates).  When reviewing the numbers for a handful of school districts in Chester County, that is the picture that is being painted. Whether the positive direction will be sustained or not, is a different question. That remains to be seen. This report looks at the Downingtown, West Chester, Coatesville, Great Valley, Octorara School Districts and compairs the first quarter numbers for 2010 to the first quarter numbers of 2009

The Numbers:

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Downingtown School District:

Overall, home sales in the Downingtown School District look strong. The number of sales were up 26%, along with overall volume of sales at 20%. Even the days on the market were down by 11%. The only downside in this district was the sale price. The average sale price dropped by 5%. In saying that, it should be understood that there is not a direct correlation between home value and average sale price, necessarily. The Downingtown area is a very strong area for home sales with a great district, taxes being fair and home prices not being too high.

West Chester School District

Sales in the West Chester School District were also good, though not as good as Downingtown. The number of sales were up 11%, with the dollar volume of sales increasing only 4%. The average sale price in the West Chester School District also decreased by 6% to $352,117. One of the best points of what happened is that the Days on the Market decreased by 17%. Homes were selling much quicker in West Chester, and even though average sale price decreased, it’s a good report for West Chester.

Great Valley School District

Consisting of only 3 townships, the Great Valley School District is not as big as the other districts, therefore it’s numbers aren’t quite as comparable. In addition, the average sale price is typically about $100,000 more than the average in Chester County. So while the number of sales were down 12% from last year, first quarter, the average sale price was up 16%. This led to the overall volume being almost the same, with a 2% increase. The big negative here is that it took 28% longer to sell a home this year in the first quarter, than last. That is mostly due to the price point for the Great Valley School District, which is significantly higher.

Coatesville School District

The Coatesville School District has really gotten an unfair reputation and as a result, the home sales in that area have probably taken the biggest beating of all the districts in Chester County. Many say that taxes in that area are just too high. But if you look more closely, you will see that they are not that much higher. That’s a report we will be tackling next, is comparing real estate taxes in Chester County. With that said, the Coatesville School District pretty much had a very similar first quarter of 2010 as they did in 2009. The number of sales were up 5%, along with the dollar volume. In addition, the average sale price pretty much stayed the same, with the days on market decreasing by 2%

Octorara School District

Last, but not least, let’s look at the Octorara School District. This is definitely the most rural of the school districts we look at, and therefore the activity is much less and lends itself to much more dramatic changes in statistics. Overall activity was up 50% from a year ago, with volume increasing 88% and the average sale price increasing 21%. The only negative is that the days on the market increased by 26%.

Big Picture in Chester County

Overall, Chester County had a good first quarter for 2010. The activity was up (6%), dollar volume was up (11%), along with average sale price (5%). Even the days on market were down by 6%. The numbers for the 2nd quarter will most likely show a significant increase in activity, only a slight increase in sale price and most likely a drop in days on market.

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Posted on: 05-7-2010
Posted in: Chester County, Market Update, News, Quarterly Market Update

Chester County Real Estate Statistics – December 2009 Comments Off

Chester County Real Estate Statistics Graphic

Chris’s Assessment

Supply and Demand are the key indicators for where a market is going. Consequently, those are the numbers I am always keeping an eye on to help me understand exactly what the market is doing. That is also why I name two of the key graphs Supply and Demand. After compiling the latest numbers for December for the Chester County area real estate market, here is what I see:

Active Listings for Chester County

  • Active Listings = SUPPLY: Supply is down. This is a very good indicator. In the first half of this year, the trends were following the same line as the previous year, and then the First Time Home Buyer tax credit really kicked in and helped to bring inventory down to more healthy levels. Starting in September the trend dropped below 2006 levels which is exciting. The BIG IF is if the market will continue to keep that trend. I believe it will, mostly due to the fact that the credit is still in effect. The biggest question is – What happens after April 30th? We will have to wait and see.Closed Sales for Chester County
  • Closed Sales = DEMAND: After rising to astronomical levels, the demand has dropped back to what I would call “normative” levels. Decembers levels were at the same level as they were in 2007. This is another healthy sign. To get back to a balanced market, the demand needs to be averaging between what it was in years 2006 and 2007. Again, I believe demand will be strong in the first half of the year due to the tax credit. Unemployment is another factor. If unemployment goes down in the area, and more people are finding jobs, this could really boost demand.Average Sold price in Chester County
  • Average Sales Price: After taking a HUGE nosedive in September through November, the average sales price is back up to “normative” levels. For December, it was about $380k, and as the chart points out, that is at a decent, expected level for December. All through out 2009, the average sale price was down a significant amount, which I contribute to the tax credit and so much uncertainty being present in the economy. Seller’s were being much more realistic about their prices either because they were forced to or from better advice. It is still fairly difficult to find some good first time home buyer homes in Chester County, unless you go Downingtown or west. The average sale price does need to come down a bit more, even now. I expect that to be the trend through out 2010, tracking at or below 2009 levels.List to Sale price ratio for Chester County
  • List to Sale Price ratio: This data is good indication of where prices are heading and throughout 2009 the arrow was pointing down, with the ratio being at the lowest levels in 5 years. The trend does not indicate that this factor is going north yet. Given many other economic factors, I believe the data will continue to be around the same levels as the last two years, hovering between the 91% – 93% range. If it does start heading back into the 95%-96% range, then we know we are seeing more of a stabilizing of prices. As it is now, the price indicator seems to be pointing down.

Chris’s Advice:

  • For Sellers: My advice has been and will continue to be this: If you don’t have to sell, then don’t – ESPECIALLY if you bought in the last 5 years and put a minimum amount down. You will almost certainly be loosing money if you sell. But if you are selling, for any reason, then make sure you get a VERY GOOD agent. And a good agent in this market will be doing a lot of business (I’ve sold 25 homes, the team I am on sold 80 homes), will have a quick “Days-On-Market” figure (ours is 45 days, which is half of what the average is) and clients that rave about them. I am more than willing to share references with you. Lastly, if you are considering, do it now, because come May 1st, chances are your house is going to be worth a good percentage less than it was on April 30th. Of course, this is due to the tax credit.
  • Word of caution to home owners/ sellers that may be in distress: If you have found yourself falling behind or will soon be falling behind in your mortgage payment, PLEASE do yourself a favor and call your mortgage company ASAP. Many are willing to help you work something out. If you are considering doing a “Short Sale” – make sure you get ALL the facts. Short sales are not all they appear to be and many times, even though the bank says they are “Forgiving” the amount you are short, many times that amount shows up on your credit report as a Foreclosure, which is what many home owners/sellers are trying to avoid in the first place. Please call an agent who is certified to help sellers in distressed situations. It just so happens that the Seller specialist I work with is certified. Call me today to discuss.
  • For Buyers: Interest rates are still low, though they have come up a bit. If you can buy, do it now and take advantage of the tax credit and low prices. Are you unsure of if you can buy? Then contact me and we can do a quick assessment over the phone of whether you are able to or not. Just call me at 484.995.9318.

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Posted on: 01-8-2010
Posted in: Chester County, Market Update, Monthly Update

Chester County Market Video Update: November 2009 Comments Off

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Posted on: 12-15-2009
Posted in: Chester County, Market Update, Videos

Chester County Real Estate Statistics – November 2009 1

Chester County Real Estate Statistics

Market Summary Report:


Area # Of Sales % Change
Year		 $ Volume % Change
Year		 Average SOLD Price % Change
Year		 DOM % Change
Year
Downingtown 77 +83% $25 Million +66% $325,933 -9% 88 +7%
West Chester 116 +84% $39.8 Million +85% $340,937 +1.5% 64 -12.2%
Great Valley 33 +65% $12.5 Million +40% $380,718 -15% 73 -23%
Coatesville 81 +88.3% $17.2 Million +90% $213,242 +2.4% 78 +4%
Octorara 10 +100% $2.2 Million +214% $224,738 +46% 91 -58.7%
Chester County 527 +76% $165.5 Million +61.9% $314,143 -8% 80 -5.9%

Chris’s Assessment:

The Tax Credit Factor: Bottom line – the tax credit “worked”. When you look at October and November numbers, it is very clear that many buyers were draw to taking action in Chester County because of the Home Buyer Tax Credit. This is apparent when looking at several factors. First is percentage increase in sold activity over the same time last year. On average, Chester County saw an increase of 76% in the number of homes that sold. It is also apparent when you look at what the number of homes that are actively for sale. It dropped inventory levels down to below 2006 levels. If that trend can be sustained, which I have my doubts about, that will be a positive sign.

Another sign for the Tax Credit Factor is the fact that the average sold price has taken a nose dive. PLEASE DO NOT mistake this figure for average home value in Chester County. This figure is just telling us where the average SALE price is. And the fact that it has headed south so drastically in the last 3 months is because a majority of the activity has been in the First Time Home Buyer price range. In Chester County, I consider that any home under the $300,000 mark. In that case 62% of the activity in the last 3 months has been in the category. So, in the end, if congress and the lobbyists wanted to stimulate market activity with the Tax Credit, they achieved their goal.

Unfortunately, I see some negative side effects to this “Tax Credit Factor” here in Chester County. First, it has created an artificial market. What I mean by that is that you have buyers in the market that wouldn’t otherwise be there, thus creating an artificial environment that causes prices to either to be sustained or go up. I have had many clients this year that multiple offers on a home they wanted to buy. This causes them to have to buy the home at a higher price than they would have otherwise. That isn’t bad in and of itself, if the prices were going back up. But this market is artificial and not sustainable. The government cannot offer the tax incentive forever and when it ends (April 30th, 2010 for now) and if the overall economy has not turned a corner to help keep prices from going further south, those home owners may face some difficulty when they go to sell in 3 – 5 years.

Of course this is conjecture on my part, but it is a big concern. No one has a crystal ball and there is no way to tell exactly what the market will do. But, if this level of activity could be sustained, it would be a very positive sign. I don’t believe it is and when I do the first report of the new year, I believe the numbers will fall back in line with the trends from the first half of the year, with the activity continuing to slow, but prices may come back up.

My best advice: If you are a seller, as I have been saying, unless you MUST SELL, don’t put your home on the market. And if you MUST SELL, make sure you get an agent or team that is selling in this market. The longer your home sits on the market, the worse it is for the wear, and the market has dropped while you waited. If you are a qualified, ready buyer this market still remains one of the best times in history to buy a home. As I write this, the interest rate for a 30 year conventional loan is around 4.75% which is historically low. You also have a tax incentive for first time home buyers and move up buyers.

If you are going to be buying or selling a home, and want the best real estate agent(s) possible, please contact me and my team would be honored to help you with your real estate needs.

Close Sales (Demand):

Chester County Closed Sales Chart for November 2009

  • The Demand has been way up due to the Tax Credit. The highest it’s been in 5 years
  • It is doubtful this trend will or could continue. I expect December numbers to follow the trend of the first half of the year, with activity at or close to a 5 year low.

Active Listings (Supply):

Chester County Active listings for November 2009

  • Supply is now at a seasonal 4 year low. This is a good statistic.
  • Over the next year, this figure could possibly inch back up, but the extension and expansion of the tax credit could help keep inventory down.

Average Sold Price:

Chester County Average Sold Price for November 2009

  • It is important to keep in mind that this figure is NOT home values, but sales price
  • 62% of the activity from September to November has been in the First Time Home buyer price range, of under $300k
  • This is what has driven the average sales price down so drastically.

If you are going to be buying or selling a home, and want the best real estate agent(s) possible, please contact me and my team would be honored to help you with your real estate needs.

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Posted on: 12-3-2009
Posted in: Chester County, Market Update, Monthly Update

Chester County Numbers by the Zip Code Comments Off

Quick report of home sales by zip codes for Chester County. Great information

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Posted on: 11-13-2009
Posted in: Chester County, Market Update

Chester County Real Estate Statistics for October 2009 Comments Off

Note to readers: I post my stats later than other real estate companies and agents because I want the most accurate numbers available…and this makes them worth waiting for! Other agents simply copy and paste graphs that they get from other sources and offer no opinions to the marketplace conditions. I track data in house and compare the market on a whole to what I produce internally in order to produce an opinion of the data and give my thoughts of what the local market is experiencing from my view as a top Chester County Real Estate Agent.

Market Statistics Graphs for October 2009

Market Statistics Graphs for October 2009 Chester County

Overall Market Summary Report


Area # Of Sales % Change
Year		 $ Volume % Change
Year		 Average SOLD Price % Change
Year		 DOM % Change
Year
Downingtown 71 +144% $22.6 Million +89% $318,641 -23% 70 -21%
West Chester 87 +29% $29 Million -10.2% $330,609 -16.1% 62 -19.5%
Great Valley 32 +23% $10.6 Million -9% $332,784 -25.6% 79 -14.2%
Coatesville 51 +13.3% $9.8 Million -3% $193,908 -15% 79 -4.9%
Octorara 12 +71.4% $2.5 Million +78.5% $209,614 +.004% 102 +39.7%
Chester County 436 +30% $131 Million +10% $301,256 -15.5% 78 -1.3%

Chris’s Assessment

Sellers: This is actually a fantastic time of year to sell in Chester County, despite what common knowledge may say. The reason is because you have the least amount of competition than at any other time of year and the buyers that are looking are serious buyers. The good news is that the overall supply has taken a dramatic dip in the last month. In fact, it is at the lowest level for this time of year since 2005. That’s a good sign.

Another good sign is that the demand is up to, almost, 2006 levels. This is a big jump over last year. The bad news is that the average sales price is down, and down in a big way, almost 16% from the same time last year. But, don’t let this alarm you too much. I believe that, when the full reports come out, they will show that the majority of the activity in the last month was largely first time home buyers that were looking to take advantage of the tax credit. Overall this dramatic uptick in demand and drop in supply will probably level out, unless the government passes an extension to the current tax credit. That certainly seems possible and they may even expand it to include options for those that currently own a home.

As I said last month, this all underscores the need to have a real estate expert on your side, making sure you take the RIGHT steps in this difficult market. Most likely, if you don’t HAVE to sell, then you probably shouldn’t. To find out what your home is worth today and how to get it sold quickly in this market, please contact me.

Buyers: I feel that I can confidently say that there has not been a better time to buy a home in recent history. I say this because of the fact that home prices have come down and mortgage rates are still at a historical low. If you are in a position to buy a home, you are in a position of power. It is still a “Buyers Market” and buyers have a majority of the power. That doesn’t mean that you will get a home in Chester County for 50 Cents on the dollar. That ain’t happenin’. But you can get some fantastic deals.

I will say that it is still too early to tell if the market  has “hit bottom” yet, but the fact that demand was up and supply is down is a good sign. It just depends on whether the trends continue that way or not. I highly recommend that if you are wondering if you are in a position to buy a home and maybe have a lot of questions or need help and advice that you contact me immediately. It would be my pleasure to help you.

Closed Sales (Demand)

Chester County Closed Sales October 2009

  • Starting in June, The demand has been increasing over what it was last year, and in october, it followed the same trend line as 2006.
  • My best prediction is that november will also see an above average amount of closed sales due to the tax credit.

Active Listings (Supply)

Chester County Active Listings October 2009

  • Good news as the supply has taken a dramatic decline.
  • If this trend continues, it may be a sign that the overall market is improving.

Average Sold Price

Chester County Average Sold Price October 2009

This graph is effected by the first two of Supply  and Demand. When supply is lower and demand is higher, prices go up. When demand is low and supply is high, prices go down. Economics 101. Because the demand the first half of the year was low we can see that the prices were tracking well under the 2008 levels. June, July and August saw increased level of demand, therefore the prices went up. Here are some facts to note:

  • The majority of activity in August, September and October has been increasingly first time home buyers.
  • The heavy emphasis on First Time Home buyers (Price range usually $300k and under) is what is causing the average sale price to drop so dramatically
  • This does NOT mean that your home’s value has dropped in a similar fashion

Want specific data pertaining to your neighborhood? It would be my pleasure to help you. Just contact me to get the details!

Conclusion:

Want to sell your house more quickly than your competitor?

Get really good help from proven professionals and price your house accordingly!

To receive this data by email, please contact me to subscribe!

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Posted on: 11-3-2009
Posted in: Chester County, Market Update, Monthly Update

Chester County Real Estate Statistics for September 2009 Comments Off

Note to readers: I post my stats later than other real estate companies and agents because I want the most accurate numbers available…and this makes them worth waiting for! Other agents simply copy and paste graphs that they get from other sources and offer no opinions to the marketplace conditions. I track data in house and compare the market on a whole to what I produce internally in order to produce an opinion of the data and give my thoughts of what the local market is experiencing from my view as a top Chester County Real Estate Agent.

Market Statistic Graphics for September 2009

Market Statistics for Chester County Real Estate

Overall Market Summary Report

Area # Of Sales % Change
Year		 Volume in $ % Change
Year		 Average SOLD Price % Change
Year		 DOM % Change
Year
Downingtown 72 +41% $22.8 Million +28.8% $317,900 -8% 75 +10%
West Chester 88 -3.3% $30.1 Million -13.3% $342,086 -10.5% 77 +8.4%
Great Valley 19 -24% $12.1 Million +6.1% $639,710 +29% 73 -4%
Coatesville 55 +10% $11.4 Million +2% $208,866 -7% 90 +9.7%
Octorara 9 +12% $1.9 Million +28% $210,000 +12% 127 +24%
Chester County 411 +1.2% $133 Million -7% $323,000 -9.3% 92 +19%

Chris’s Assessment

Sellers: The supply of homes available (Active Listings) is in the midst of a seasonal decline right now. This means that if you are selling your home you will have less competition. Bad news is that the demand is also declining. Luckily these two facts have a canceling effect and might only cause it to take longer to sell your home. When supply and demand is evenly matched, stats tend to stay even as well. But this does mean that you, as a seller, are STILL in a “Price war and beauty contest”. What does this mean?

If you want to sell your home and beat your competition, you MUST be a better value, which usually means a better price, and your home must present better than your competition. Home buyers are going to look at all of your competition and if the price and value are better and the home presents better, you are basically helping your competition sell their home.

The last time that prices were consistently in the $330,000 price range was back in 2005, so it is safe to say that the market has taken steps backwards by about 3 -4 years. That means that if you want to sell your home, but you bought during or after 2005, you will most likely be selling for a loss. This all underscores the need to have a real estate expert on your side, making sure you take the RIGHT steps in this difficult market. To find out what your home is worth today and how to get it sold quickly in this market, please contact me.

Buyers: Is it time to get off the fence and buy a home? No one can answer that question with 100% assurance, but you. Most buyers want to know if the market has hit bottom yet or not. Truth is, no one can tell you that for sure. The best we can do is to look at history and market statistics and make the best guess that we can. My firm assessment is that it is too early to tell. What this means to you as a (potential) buyer is that you need expert advice more than ever. You can schedule an appointment with me and we can go over some key area’s that will help you personally determine if now is the right time for you to jump into home ownership. More than 20 of my clients have done so and decided it is. Contact me to schedule an appointment.

First Time Home Buyers: Time is VERY short for you to take advantage of the First Time Home Buyer Tax Credit. You MUST close by Monday, November 30th, and with settlement time frames averaging a minimum of 45 days, that means that if you do not have a home under contract by the middle of October, you will most likely miss it.

Many have asked me if the Credit will be extended and as I said above, I do not have a crystal ball and I cannot tell the future. Fact is that Congress has not extended it yet. But, they have introduced a bill – H.R. 2801 – which would expand and extend it. Read all the details about the bill in an post of mine last month.

Closed Sales September 2009 = DEMAND

Closed Sales (DEMAND)

Closed sales are following the seasonal decline, as predicted. Here are some facts to note:

  • May saw a steeper spike in activity than the average month and the following decline has been slightly less dramatic.
  • This may mean that the seasonal slump may continue following this curve, which would be good news.
  • I have noticed a spike of activity in September, which may help the last quarter of this year to be a positive one.

Active Listings September 2009

Active Listings (Supply)

The number of active listings, or the supply available in this market, has been tracking just under what the supply was in the previous year. This is a positive sign. Unfortunately, the demand was also down for the first half of the year. It wasn’t until July and August that the demand has risen to the equal levels with 2008. If demand continues to stay higher through the rest of the year, and the supply remain lower than the previous year, this could be a sign that the market is flattening out. But, it is still too early to tell. Here are some facts to note:

  • Supply for the first half of the year was trending under the previous year.
  • In July and August the supply has risen to 2008 levels
  • A positive sign would be for the supply to fall below 2008 levels for the rest of this year and for the demand to be higher. We can only wait and see.

Average Sold Price September 2009

Average Sold Price

This graph is effected by the first two of Supply  and Demand. When supply is lower and demand is higher, prices go up. When demand is low and supply is high, prices go down. Economics 101. Because the demand the first half of the year was low we can see that the prices were tracking well under the 2008 levels. June, July and August saw increased level of demand, therefore the prices went up. Here are some facts to note:

  • Prices are at the lowest levels in the last 5 years. Great news for buyers, not so great for sellers
  • Prices, on average, are down almost 10% over 2008
  • Prices from August to September saw a fairly sharp decline. I don’t know the exact reason for this at the moment, but I am going to look into it.

Want specific data pertaining to your neighborhood? It would be my pleasure to help you. Just contact me to get the details!

Conclusion:

Want to sell your house more quickly than your competitor?

Get really good help from proven professionals and price your house accordingly!

To receive this data by email, please contact me to subscribe!

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Posted on: 10-7-2009
Posted in: Chester County, Market Update, Monthly Update

June 2009 Real Estate Market Update for Coatesville, PA 19320 Comments Off

Interpretation for the Coatesville, PA 19320 real estate market update: Coatesville has been the hardest hit area of Chester County, but luckily, the trends are showing some positive numbers. Start with the fact that the average Days On Market down by 16% compared to a year ago. Last month saw a decrease of 17% in the average time it took to sell a home in Coatesville. In addition the number of pendings is up 25% from 2008 and the average settled price saw an increase of 3%. Coatesville isn’t out of the woods yet, but there is some light showing.

Here are some Highlights:

  • All numbers are up, when comparing to last month, with the number of solds being the most significant at 34%
  • DOM are down, for the second month in a row, by 16% from last year
  • Average sale price actually WENT UP by 3% from $206,793 to $212,538
  • Number of pending homes were up by 25%

Here are the details:

June 2009 May 2009 % Ch June 2008 % Ch
Avg DOM 69 68 +1.5% 82 -16%
Orig. List $ $244,419 $230,505 +6% $233,610 +4.6%
Sold List $ $223,113 $216,696 +3.2% $219,986 +1.8%
Avg Settled $ $212,538 $207,479 +2.4% $206,793 +3%
List To Sale Ratio 95% 95.75% +.75% 94% +1%
# Pending 55 49 +11% 44 +25%
# Sold 58 43 +34.8% 59 -1%

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Posted on: 07-10-2009
Posted in: Chester County, Coatesville, Market Update, Monthly Update

June 2009 Real Estate Market Update for West Chester, PA 19380 Comments Off

Interpretation for the West Chester, PA 19380 real estate market update: June saw an increase in activity over May in both the number of pending sales and actual settled homes. Homes also took 20% less time to sell and received 12% more than the month before. Compared to the same month a year ago, not much changed terribly with the exception of how long homes took to sell (50% longer) and home many actually sold (14% more).

Here are some Highlights:

  • DOM changed from last month by 20% or 16 days
  • The average settled price in West Chester increased 12% to $376,066
  • DOM, when compared to last June, increased by 51%, from 52 to 79 days
  • Number of sold homes increased by 14% compared to June of 2008

Here are the details:


June 2009 May 2009 % Ch June 2008 % Ch
Avg DOM 79 95 -20% 52 +51%
Orig. List $ $406,292 $437,284 -8% $410,126 -1%
Sold List $ $403,399 $357,993 +12% $393,595 +2.5%
Avg Settled $ $376,066 $332,119 +12% $380,545 -1.1%
List To Sale Ratio 93.3% 92.7% +.5% 96.6% -3.3%
# Pending 100 87 +15% 101 -1%
# Sold 111 74 14.8% 97 +14%



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Posted on: 07-8-2009
Posted in: Chester County, Market Update, Monthly Update, West Chester
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