Well, almost tax time (only 8 days left to file), and we’ve already finished the first quarter of 2009. Wow, time really flies when you’re not paying attention. Below is the Chester County real estate statistics summary for March, 2009.
As you can see the numbers improved steadily from February to March in Chester County. We’ve been seeing a steady improvement area since December. I’ve seen homes priced right going under contract in a week, and in some cases, multiple offers. Most agents that I speak with, including myself, are noting a steady increase in phone calls as the year has progressed. Rates have remained near 5% for a while, but I wouldn’t bet on them going too much lower from what I’m being told.
So what do the numbers show? Well days on market is still getting stretched out a bit, but the number of homes going under contract continues to increase monthly. The absorption rate for Chester County, in turn, has now dropped back to the single digit range and is now between 9 and 10 months of inventory. While certainly not at the levels of last years market, it is improving. A normal market is in the 5 to 8 months of inventory, so Chester County is still favoring the buyer a bit in regards to choices. However, homes are selling if they show well and are priced correctly.
If you would like to discuss your options in this market, with no obligation, feel free to contact me and I’ll be happy to set up a meeting with you.
Below you’ll find the statistic charts and numbers for the last 2 years. I’ve switched to slideshare.net for their presentation. Click the “projector screen” icon in the bottom right to view them full size.
Related posts:
- Exton PA Real Estate Statistics for March 2009
- Chester County Statistics for June 2009
- Downingtown Real Estate Statistics for May 2009
- Chester County Statistics for April, 2009
Article by John Lauber
My name is John Lauber and I'm a Realtor in Chester County, PA. I love living and working in this area as there is so much to do here. If you have any questions feel free to contact me. I'm happy to help.
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