Chester County Real Estate Sales Statistics - Sept 2010
Despite economic uncertainty, 68 percent of those surveyed in the 2010 National Housing Pulse Survey, conducted by the National Association of Realtors, still believe now is a good time to buy a home; while that number is down from last year (75 percent), it’s up from 2008 (66 percent) and 2007 (59 percent). Lower home prices and record-low mortgage interest rates are attracting buyers to the housing market – more than one-fourth of renters said they are thinking more about buying a home than they were a year ago. Sixty-three percent of renter respondents said that owning a home is a priority in their future, and nearly 40 percent said it was one of their highest priorities.
Americans are seeing more stability in the real estate market. Nearly seven out of 10 believe that home values have stabilized in their area; the same number expects home sales to remain about the same through the end of the year.
While nearly seven out of 10 say it’s harder to sell a home in their area today than it was a year ago, it’s less of a concern from last year when the number was 10 percentage points higher. This is most likely the result of lower home inventories.
Take a look at how the Chester County real estate market fared in September.
Downingtown Area School District saw a 18% increase in active listings in September 2010, compared to September 2009. Pending listings have decreased by 48% and sold listings have decreased by 41%. There was a 16% increase in average sales price to $358,796, while market times decreased by 1 days.
|
Downingtown |
Active |
Pending |
Sold |
Average |
Average |
|
Sept 2010 |
98 |
28 |
33 |
$358,796 |
79 |
|
Sept 2009 |
80 |
54 |
56 |
$299,824 |
80 |
In the West Chester Area School District, there was an decrease in Sold listings of 13% when compared to September 2009. And pending sales decreased by 33% in September 2010 when compared to September 2009. Average sales price increased by 15% to $380,300 and active listings decreased by 6% from September 2009. Market times have increased by 3 days.
|
West Chester |
Active |
Pending |
Sold |
Average |
Average |
|
Sept 2010 |
139 |
65 |
71 |
$380,300 |
80 |
|
Sept 2009 |
148 |
97 |
82 |
$324,749 |
77 |
Active listing have decreased by 1% in the Coatesville Area School District in September 2010 when compared to September 2009. The average sales price decreased by 3% to $209,622 and sold listings decreased by 36%. The number of pending home sales decreased by 62% when compared to September 2009, while homes were on the market on average 5 days more than in September 2009.
|
Coatesville |
Active |
Pending |
Sold |
Average |
Average |
|
Sept 2010 |
103 |
29 |
39 |
$209,622 |
89 |
|
Sept 2009 |
104 |
79 |
61 |
$216,075 |
84 |
A word of caution...markets within a school district can be very different from neighborhood to neighborhood. For the latest Chester County PA real estate market conditions in your neighborhood, please call me at 610-564-SCOT or visit ChesterCountyHomeSource.com.
