Here’s the latest real estate statistics for Chester County for May 2009.
As you can see, the units sold in May picked up compared to April in Chester County. That number is still down compared to last year, but we have seen a steady rise since the beginning of the year. Average and sold prices have remained pretty consistent throughout 2009. Units under contract continues to rise, especially as first time buyers have jumped off the fence with the government’s first time buyer credit. This will allow those people selling these homes to move on to their next home.
What has the increased units sold and under contract numbers done to the absorption rate? It’s reduced it even further to just below 9 months of inventory. As a reminder, a “normal” market is considered between 5 to 8 months. As we hit the summer months we will see a bit of a slow down, but I’m expecting steady sales, especially in the first time buyer market.
Feel free to contact me if you would like similar information for your area.
If you want even more detail, the graphs and numbers are below:
Related posts:
- Downingtown Real Estate Statistics for May 2009
- Chester County Statistics for June 2009
- Chester County Statistics for August 2009
- Chester County Statistics for September 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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