As I said in my mid-June update post, I would be starting a series today on Chester County statistics across price ranges. Today’s price range is properties less than $200K.
First a quick summary:
As you can see prices in this range has remained fairly steady throughout the past year. Even going up a bit over the last 6 months. Though versus June, 2008, the prices are down between 2 and 5 percent. While for sales listings are up (3% year over year), what’s really significant is the number of under contract listings which shot up 21% versus last year with 91 listings (highest in the past year) under contract. Surely, the first time buyer credit is helping matters in this range. Oddly, the number of sold listings remained almost identical.
So what’s the absorption rate for this price range? It’s down to a 5.6 months of inventory. An average market is between 5 and 8 months, so that puts us in the middle ground between buyer’s and seller’s markets in this area and price range. Whether for investment or personal use, this range continues to sell at a steady pace with only a small loss of value in the past year.
Tune in tomorrow for the $200 to $400K price range. If you haven’t, be sure to subscribe using the buttons on the right or at the bottom of this post.
I’ve included the 3 charts I used to get these numbers below. Feel free to contact me if you’d like to discuss this or see these numbers for your area.
Related posts:
- Chester County Statistics (a break down) – $200 to $400K
- Chester County Statistics (a break down) – ($600 to $800K)
- Chester County Statistics (a break down) – $1M to $1.5M
- Chester County Statistics (a break down) – $400K to $600K
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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