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| Focus On: Chester County Housing Market | August 2023 | ||
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| Units Sold 589 |
Active Inventory 598 |
Median Sale Price $537,500 |
Days On Market 18 |
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| Down -16% Vs. Year Ago |
Down -9% Vs. Year Ago |
Up 13% Vs. Year Ago |
Up 20% Vs. Year Ago |
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Units Sold
There was an increase in total units sold in August, with 589 sold this month in Chester County Real Estate versus 498 last month, an increase of 18%. This month's total units sold was lower than at this time last year, a decrease of 16% versus August 2022. |
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Active Inventory
Versus last year, the total number of homes available this month is lower by 61 units or 9%. The total number of active inventory this August was 598 compared to 659 in August 2022. This month's total of 598 is higher than the previous month's total supply of available inventory of 589, an increase of 2%. |
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Median Sale Price
Last August, the median sale price for Chester County Homes was $475,000. This August, the median sale price was $537,500, an increase of 13% or $62,500 compared to last year. The current median sold price is 3% higher than in July. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median. |
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| New Listings 556 |
Current Contracts 453 |
Sold Vs. List Price 102.5% |
Months of Supply 1.0 |
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| Down -4% Vs. Year Ago |
Down -15% Vs. Year Ago |
Up 0.9% Vs. Year Ago |
No Change Vs. Year Ago |
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Months of Supply
In August, there was 1.0 months of supply available in Chester County. The amount of supply is similar compared to 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. |
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New Listings & Current Contracts
This month there were 556 homes newly listed for sale in Chester County compared to 577 in August 2022, a decrease of 4%. There were 453 current contracts pending sale this August compared to 535 a year ago. The number of current contracts is 15% lower than last August. |
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Sale Price to List Price Ratio
In August, the average sale price in Chester County was 102.5% of the average list price, which is 0.9% higher than at this time last year. Days on Market
This month, the average number of days on market was 18, higher than the average last year, which was 15, an increase of 20%. | |||
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| *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. | |||
 Information 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. |
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