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| Focus On: Chester County Housing Market | October 2022 | ||
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| Units Sold 445 |
Active Inventory 654 |
Median Sale Price $470,000 |
Days On Market 18 |
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| Down Vs. Year Ago |
Down -23% Vs. Year Ago |
Up 9% Vs. Year Ago |
No Change Vs. Year Ago |
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Units Sold
There was a decrease in total units sold in October, with 445 sold this month in Chester County Real Estate. This month's total units sold was lower than at this time last year. |
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Active Inventory
Versus last year, the total number of homes available this month is lower by 198 units or 23%. The total number of active inventory this October was 654 compared to 852 in October 2021. This month's total of 654 is lower than the previous month's total supply of available inventory of 716, a decrease of 9%. |
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Median Sale Price
Last October, the median sale price for Chester County Homes was $430,000. This October, the median sale price was $470,000, an increase of 9% or $40,000 compared to last year. The current median sold price is 4% 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. |
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| New Listings 530 |
Current Contracts 476 |
Sold Vs. List Price 101.2% |
Months of Supply 1.5 |
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| Down -25% Vs. Year Ago |
Down -30% Vs. Year Ago |
Down -0.5% Vs. Year Ago |
Up 23% Vs. Year Ago |
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Months of Supply
In October, there was 1.5 months of supply available in Chester County, compared to 1.2 in October 2021. That is an increase of 23% 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. |
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New Listings & Current Contracts
This month there were 530 homes newly listed for sale in Chester County compared to 708 in October 2021, a decrease of 25%. There were 476 current contracts pending sale this October compared to 681 a year ago. The number of current contracts is 30% lower than last October. |
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Sale Price to List Price Ratio
In October, the average sale price in Chester County was 101.2% of the average list price, which is 0.5% lower than at this time last year. Days on Market
This month, the average number of days on market was 18, which is similar compared to a year ago. | |||
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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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