After 6 months of upward movement, July 2009 was the first down month for Chester County since December. Here’s the chart:
To be fair, July tends to slow (along with August) as people take vacations. As you can see from the charts below prices for July are down about 3-4% over the past 2 years. So I would call this the cyclical summer slow down. Homes are selling though, in my experience. There have been multiple offer situations on homes priced properly. Days on market remains steady at around 80 days.
So what do these numbers mean for the absorption rate? Well it did go up to around 10 months of inventory from 8 months.
Want to make your own conclusions? Then, see the charts below. And as always, feel free to contact me to get charts like these for your area.
Related posts:
- Chester County Statistics for August 2009
- Chester County Statistics for September 2009
- West Chester Statistics for July 2008
- Market Statistics for Malvern/Paoli in July 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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