Yesterday I posted about home sales in Chester County below $200K. Today we continue the series and, as the title says, we look at the $200K to $400K home price range.
First a summary of the action:
As you can see, this is another range where prices have not dropped significantly, if at all really. The residual inventory is lower and as a percentage to under contract listings has held for 2 months at 20%. That percentage has climbed during the year and after a year or two of averaging about 15% (under contract/residual listings) is at one of it’s highest points. What about the absorption rate for this price range? Well that’s holding around 6.2 months of inventory for this time of year. Also, 2 months of consistent “normal” market conditions in this range. The first time buyer credit is also involved in this price range as well, which is helping.
As always the full charts for this information is below. They are only different as they are for the past year and not the last two, but looking at the last two really doesn’t change the numbers on a month to month basis.
Related posts:
- Chester County Statistics (a break down) – $400K to $600K
- Chester County Statistics (a break down) – Less than $200K
- Chester County Statistics (a break down) – ($600 to $800K)
- Chester County Statistics (a break down) – $1M to $1.5M
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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