Real Estate Information Archive

Blog

Displaying blog entries 1-3 of 3

Chester County PA Real Estate Market Trends for July 2019

Wednesday, August 21, 2019
by Scott Darling

Chester County PA Real Estate Market Trends for July 2019

Chester County PA single-family homes saw pending sales increase by 6.2% in July 2019 when compared to July 2018. 681 homes sold in July with a median sales price of $374,000.  The average sales price increased by 5,8%, and homes were on the market 5 days more.

If you are thinking about selling your home get a free instant home evaluation Learn More. 

Add Comment

Chester County Real Estate Market Trends for January 2015

Wednesday, March 4, 2015
by Scott Darling

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

Curious about the value of your home? Get your home's value here!

Add Comment

What's Up In 2015 for Real Estate?

Friday, January 16, 2015
by Scott Darling

A new year has begun and it seems to me that time goes faster and faster each day. The economy is predicted to grow around 3% in 2015 and as you can guess that is good news for the real estate business!  The real estate market holds a few more predictions for 2015…

  • 2015Interest rates are still low compared to what they have been in years passed but Freddie Mac is predicting that interest rates will rise above the low 4% they had dipped to in 2014 to up to 5% by the end of 2015.  Still these interest rates are extremely low so if you are in the market for a new house you should go ahead and plan on making a purchase sometime in the year of 2015. 
  • Prices for houses by the end of 2015 are predicted to be a little higher than in years passed but not so high that they won’t still be affordable.  Home appreciation will likely move to 4.5 percent instead of 9.3 percent as in 2014.  It may be that home appreciation will drop to 3 percent by the end of 2015.
  • If building a home is in your plans then you are apparently on target with a lot of other folks. The building of new homes is expected to rise 20 percent from 2014.  If you don’t find the house that fits your every need this coming year on the market, it will be a great year to build it to your own specifications. 
  • Not as many folks will be refinancing in 2015.  As a matter of fact refinances will drop to make up only about 23 percent of single family orientations this coming year.  In 2014 refinances made up roughly more than half of single family orientations. 
  • It will be a bit easier to get a loan for your new home purchase in 2015 as some of the restrictions that were once placed on new home buyers will be eased.  Funding sources will grow for new home buyers in 2015 as well. 

As you can see there is a lot of good news for the real estate market in 2015.  If you are considering buying a home, don’t wait another day longer…get on the phone and give me a call today to get you started in the right direction. 

Information courtesy of Chester County PA Realtor Scott Darling.

Add Comment

Displaying blog entries 1-3 of 3

Syndication

Categories

Archives