The Long & Foster Market Minute

Focus On: Chester County Housing Market December 2021

Units Sold
659
Active Inventory
446
Median Sale Price
$425,000
Days On Market
23
Down -10%
Vs. Year Ago
Down -43%
Vs. Year Ago
Up 8%
Vs. Year Ago
Down -23%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in December, with 659 sold this month in Chester County Real Estate versus 676 last month, a decrease of 3%. This month's total units sold was lower than at this time last year, a decrease of 10% versus December 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 342 units or 43%. The total number of active inventory this December was 446 compared to 788 in December 2020. This month's total of 446 is lower than the previous month's total supply of available inventory of 642, a decrease of 31%.

Median Sale Price
Last December, the median sale price for Chester County Homes was $391,832. This December, the median sale price was $425,000, an increase of 8% or $33,168 compared to last year. The current median sold price is 2% lower than in November.

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


New Listings
350
Current Contracts
428
Sold Vs. List Price
99.2%
Months of Supply
0.7
Down -26%
Vs. Year Ago
Down -6%
Vs. Year Ago
Down -0.6%
Vs. Year Ago
Down -36%
Vs. Year Ago

Months of Supply
In December, there was 0.7 months of supply available in Chester County, compared to 1.1 in December 2020. That is a decrease of 37% 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 350 homes newly listed for sale in Chester County compared to 474 in December 2020, a decrease of 26%. There were 428 current contracts pending sale this December compared to 455 a year ago. The number of current contracts is 6% lower than last December.

Sale Price to List Price Ratio
In December, the average sale price in Chester County was 99.2% of the average list price, which is 0.6% lower than at this time last year.

Days on Market
This month, the average number of days on market was 23, lower than the average last year, which was 30, a decrease of 23%.

The Long & Foster Market Minute
*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.