The Long & Foster Market Minute

Focus On: West Chester Housing Market October 2023

Zip Code(s): 19382, 19380 and 19395
Units Sold
Active Inventory
Median Sale Price
Days On Market
Down -17%
Vs. Year Ago
Up 18%
Vs. Year Ago
Up 13%
Vs. Year Ago
Down -33%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 83 sold this month in West Chester Real Estate versus 94 last month, a decrease of 12%. This month's total units sold was lower than at this time last year, a decrease of 17% versus October 2022.

Active Inventory
Versus last year, the total number of homes available this month is higher by 21 units or 18%. The total number of active inventory this October was 139 compared to 118 in October 2022. This month's total of 139 is lower than the previous month's total supply of available inventory of 150, a decrease of 7%.

Median Sale Price
Last October, the median sale price for West Chester Homes was $545,000. This October, the median sale price was $615,000, an increase of 13% or $70,000 compared to last year. The current median sold price is 24% higher than in September.

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

New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
Down -3%
Vs. Year Ago
Down -4%
Vs. Year Ago
No Change
Vs. Year Ago
Up 42%
Vs. Year Ago

Months of Supply
In October, there was 1.7 months of supply available in West Chester, compared to 1.2 in October 2022. That is an increase of 42% 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 96 homes newly listed for sale in West Chester compared to 99 in October 2022, a decrease of 3%. There were 86 current contracts pending sale this October compared to 90 a year ago. The number of current contracts is 4% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in West Chester was 101.8% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 12, lower than the average last year, which was 18, a decrease of 33%.

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.