Boy does time seem to fly. I can’t believe we’ve already finished half the year. Here’s how the numbers look for June (and looking at the slides below the last 2 years) in Chester County.
The first number that jumped out at me for June was the large increase in homes under contract for June. I’m going to make an educated guess that the number is too high. I hope I’m wrong, but it seems awfully high. Numbers are still be entered for June, however. I’m going to do a larger breakdown of the Chester County market later this month (so subscribe now if you haven’t). Checking these numbers directly in the MLS (I use a tool that does more number crunching than our MLS) the units under contract are closer to 416, not 908.
The other numbers look more in line with the my MLS numbers, so let’s look at those. Days on market crept up a bit, as did sold and average prices (from May 2009). New listings tapered a bit as we June begins our annual summer slow down. What has this done to the absorption rate? Well because the number above is a bit high, I’m using a more realistic number of 12 months of inventory. Yes, that’s a higher than last month, but as I said before it’s expected as we slow during the summer. Looking at the sales board in my office, there are no shortage of homes going under contract. I still see homes, priced correctly for today’s market, selling quickly.
As I said above, look for a greater breakdown later this month of home sales in Chester County. If you would like statistics for your township, etc. feel free to contact me. I have many ways to break the data supplied down further.
See the charts below for more detail about the last 2 years in Chester County.
Related posts:
- Chester County Statistics for June 2008
- Chester County Stats – June 2008 Mid-Month Check
- Chester County Real Estate Statistics for March, 2009
- Chester County Statistics for January 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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