The Long & Foster Market Minute

Focus On: West Chester Housing Market October 2021

Zip Code(s): 19382, 19380 and 19395
Units Sold
148
Active Inventory
132
Median Sale Price
$484,050
Days On Market
14
Up 11%
Vs. Year Ago
Down -27%
Vs. Year Ago
Up 10%
Vs. Year Ago
Down -33%
Vs. Year Ago

Units Sold
There was an increase in total units sold in October, with 148 sold this month in West Chester Real Estate versus 147 last month, an increase of 1%. This month's total units sold was higher than at this time last year, an increase of 11% versus October 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 48 units or 27%. The total number of active inventory this October was 132 compared to 180 in October 2020. This month's total of 132 is lower than the previous month's total supply of available inventory of 145, a decrease of 9%.

Median Sale Price
Last October, the median sale price for West Chester Homes was $439,000. This October, the median sale price was $484,050, an increase of 10% or $45,050 compared to last year. The current median sold price is 2% 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
152
Current Contracts
146
Sold Vs. List Price
101.0%
Months of Supply
0.9
Down -3%
Vs. Year Ago
Down -1%
Vs. Year Ago
Up 0.8%
Vs. Year Ago
Down -34%
Vs. Year Ago

Months of Supply
In October, there was 0.9 months of supply available in West Chester, compared to 1.4 in October 2020. That is a decrease of 34% 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 152 homes newly listed for sale in West Chester compared to 157 in October 2020, a decrease of 3%. There were 146 current contracts pending sale this October compared to 148 a year ago. The number of current contracts is 1% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in West Chester was 101.0% of the average list price, which is 0.8% higher than at this time last year.

Days on Market
This month, the average number of days on market was 14, lower than the average last year, which was 21, 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.