The Long & Foster Market Minute

Focus On: West Chester Housing Market April 2022

Zip Code(s): 19382, 19380 and 19395
Units Sold
99
Active Inventory
76
Median Sale Price
$595,000
Days On Market
9
Down -7%
Vs. Year Ago
Down -33%
Vs. Year Ago
Up 28%
Vs. Year Ago
Down -47%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in April, with 99 sold this month in West Chester Real Estate versus 111 last month, a decrease of 11%. This month's total units sold was lower than at this time last year, a decrease of 7% versus April 2021.

Active Inventory
Versus last year, the total number of homes available this month is lower by 38 units or 33%. The total number of active inventory this April was 76 compared to 114 in April 2021. This month's total of 76 is higher than the previous month's total supply of available inventory of 64, an increase of 19%.

Median Sale Price
Last April, the median sale price for West Chester Homes was $466,188. This April, the median sale price was $595,000, an increase of $128,812 compared to last year. The current median sold price is higher than in March.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
138
Current Contracts
115
Sold Vs. List Price
102.8%
Months of Supply
0.8
Down -26%
Vs. Year Ago
Down -31%
Vs. Year Ago
Up 0.5%
Vs. Year Ago
Down -29%
Vs. Year Ago

Months of Supply
In April, there was 0.8 months of supply available in West Chester, compared to 1.1 in April 2021. That is a decrease of 29% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 138 homes newly listed for sale in West Chester compared to 186 in April 2021, a decrease of 26%. There were 115 current contracts pending sale this April compared to 166 a year ago. The number of current contracts is 31% lower than last April.

Sale Price to List Price Ratio
In April, the average sale price in West Chester was 102.8% of the average list price, which is 0.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 9, lower than the average last year, which was 17, a decrease of 47%.

The Long & Foster Market Minute West Chester are defined as properties listed in zip code/s 19382, 19380 and 19395.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.