Even though most people start their New Year’s resolutions on January 1, some people add resolutions as the year progresses. For some, that goal is realizing the dream of homeownership. Beginning the process of buying a home can be daunting, but it is easy enough to begin working on the first step – saving for a down payment. According to the National Association of REALTORS®' 2014 Profile of Home Buyers and Sellers, 65 percent of home buyers utilize their savings account for a down payment; however, buyers find many other ways to finance a down payment, including selling stocks or bonds, relying on gifts from friends or relatives, retirement funds or using the proceeds from another home sale.
Beginning to build savings should be a priority for potential buyers because it can take some time. According to NAR’s report, it took half of buyers a year or less to save for a down payment, while another 19 percent said it took between one and two years to build their savings account. Additionally, 29 percent said they needed more than two years to save.
Take a look at January’s real estate sales broken down by school district.
Downingtown School District
The number of homes selling in the Downingtown school district in January 2015 dropped by 1.85% when compared to January 2014. The average selling price increased less than 1% to $355,000. The median selling price increased by 2.94% while the average market time increased by 15 days.
| Date |
Sold
Listings |
Average
Selling Price
|
Median
Selling Price |
Average
Days On Market |
| Jan 2015 |
53 |
$355,000 |
$350,000 |
66 |
| Jan 2014 |
54 |
$354,439 |
$340,000 |
51 |
West Chester School District
The number of homes selling in the West Chester school district in January 2015 decreased by 15.71% when compared to January 2014. The average selling price increased by 1.05% to $347,531. The median selling price decreased by 2.88% while the average market time increased by 7 days.
| Date |
Sold
Listings |
Average
Selling Price
|
Median
Selling Price |
Average
Days On Market |
| Jan 2015 |
59 |
$347,531 |
$320,000 |
66 |
| Jan 2014 |
70 |
$343,909 |
$329,500 |
59 |
Coatesville School District
The number of homes selling in the Coatesville school district in January 2015 dropped by 7.5% when compared to January 2014. The average selling price increased 3.51% to $223,125. The median selling price decreased 6.6% while the average market time grew by 14 days.
| Date |
Sold
Listings |
Average
Selling Price
|
Median
Selling Price |
Average
Days On Market |
| Jan 2015 |
37 |
$223,125 |
$200,875 |
102 |
| Jan 2014 |
40 |
$215,565 |
$215,069 |
88 |
Great Valley School District
The number of homes selling in the Great Valley school district in January 2015 decreased by 19.05% when compared to January 2014. The average selling price increased 8.1% to $474,719. The median selling price increased by 7.9% to $437,000, while the average market time decreased by 19 days.
| Date |
Sold
Listings |
Average
Selling Price
|
Median
Selling Price |
Average
Days On Market |
| Jan 2015 |
17 |
$474,719 |
$437,000 |
64 |
| Jan 2014 |
21 |
$439,151 |
$405,000 |
83 |
Unionville School District
The number of homes selling in the Unionville school district in January 2015 increased by 41.67% when compared to January 2014. The average selling price increased 19.76% to $499,500. The median selling rose 37.4% while the average market time increased by 47 days.
| Date |
Sold
Listings |
Average
Selling Price
|
Median
Selling Price |
Average
Days On Market |
| Jan 2015 |
17 |
$499,500 |
$450,000 |
115 |
| Jan 2014 |
12 |
$417,083 |
$327,500 |
68 |
Tredyffrin-Easttown School District
The number of homes selling in the Tredyffrin-Easttown school district in January 2015 increased by 7.69% when compared to January 2014. The average selling price increased 2.16% to $435,893. The median selling price dropped 5.59% while the average market time increased by 10 days.
| Date |
Sold
Listings |
Average
Selling Price
|
Median
Selling Price |
Average
Days On Market |
| Jan 2015 |
28 |
$435,893 |
$380,000 |
58 |
| Jan 2014 |
26 |
$426,673 |
$402,500 |
48 |
Owen J Roberts School District
The number of homes selling in the Owen J Roberts school district in January 2015 increased by 5.26% when compared to January 2014. The average selling price decreased by 4.72% to $308,095. The median selling price dropped 10% while the average market time decreased by 1 day.
| Date |
Sold
Listings |
Average
Selling Price
|
Median
Selling Price |
Average
Days On Market |
| Jan 2015 |
20 |
$308,095 |
$256,500 |
116 |
| Jan 2014 |
19 |
$323,373 |
$285,000 |
117 |
Phoenixville School District
The number of homes selling in the Phoenixville school district in January 2015 decreased by 21.21% when compared to January 2014. The average selling price increased 2.74% to $279,169. The median selling price increased by 14.19% while the average market time decreased by 5 days.
| Date |
Sold
Listings |
Average
Selling Price
|
Median
Selling Price |
Average
Days On Market |
| Jan 2015 |
26 |
$279,169 |
$244,375 |
64 |
| Jan 2014 |
33 |
$271,718 |
$214,000 |
69 |
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