Here we are at Day 4 in my series on Chester County PA real estate statistics, with a break down, by price range. As the title says, today’s price range is from $600K to $800K.
Here’s the summary chart:
Well, what I can add that the numbers don’t already say? If yesterday’s numbers were the start of the home sale bottleneck, then this is the next rung on the ladder. Median and Average prices (as a percentage compared to last year) are only down 4% and 1%, respectively. However, the more significant drop is the homes sold (48% down compared to June 2008). Under contract listings have remained about the same (with the exception of July 2008 which spiked higher). For the most part, under contract listings vs residual listings as a percentage has averaged about 6.5%.
All this affects the absorption, and that number is at 15 months of inventory. The average for the year is around 21 months of inventory. That number has lowered, since January 2009, and let’s hope the trend continues here. It is, regardless, considered a buyer’s market and until people decide it’s time to move up there won’t be too much more action than what we’re seeing.
The full charts for the year are below. Here’s the links to the rest of the series: Day 3, Day 2, Day 1.
Related posts:
- Chester County Statistics (a break down) – $800K to $1M
- Chester County Statistics (a break down) – $400K to $600K
- Chester County Statistics (a break down) – $200 to $400K
- Chester County Statistics (a break down) – Less than $200K
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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