Day 3 of our series breaking down home sales among the various price ranges in Chester County, PA brings us to the $400K to $600K price range.
As always, first the chart:
This is really where we start to see the “move up buyer”, or those people looking to move to a larger home. This has been a “difficult” range (or one of them). Without sales below, which have been good, homes starting in this range take longer to sell. June, 2009 was an uptick, but compared to last year is down a bit. Median and Average prices have remained about the same but took a bit longer to sell. The other numbers have moved “normally”, if you will, through the yearly real estate cycle.
What does this mean for the absorption rate for this range? As of June, it’s 8.5 months of inventory. This number is a low, except for May, for the year (starting June 2008). Most months have been 10 months or more, with a high of 21.4 months back in November, 2008. It’s steadily dropped since then and I hope it continues. I would say probably still in the “buyer’s market” area for this price range.
Feel free to dive deeper into the numbers in the charts below. Of course, if you would like more specific information feel free to contact me.
Stay tuned for tomorrow, where we move to the $600K to $800K price range.
Related posts:
- Chester County Statistics (a break down) – $200 to $400K
- 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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