Sorry, for the delay, but finally had a chance to sit down and run the numbers for September. Here’s the latest statistics for September, 2009 in Chester County. First the graph:
Looking at the numbers and the slides located below, both median and average prices in September dropped 17% versus the same time in September, 2007. I added trend lines to help illustrate what prices have been doing. As you can see we had gradual rise and then drop through 2008. Over the last few months it appears to be trending upwards, or at the very least somewhat level.
Price, however isn’t the whole picture and as you can see, in the other two slides that inventory is has come gone up slightly along with a drop in new listings. Under contracts, compared to 2 years ago, has definitely risen, and this has been a general trend since the beginning of the year. Compared to August, they were up as well while new listings stayed the same. So what did this do to the absorption rate? Well, it went down a bit to 8 months of inventory. I’m sure the first time credit helped with the increase and helped some people who were waiting.
Speaking of the first time credit, there is a VERY small window (currently) to find, purchase and settle on a home by November 30. No one’s sure if and in what form the first time credit could or could not become. As I’ve stated before, if there’s an issue on November 30, you could lose out. So that means the number of days is even shorter. Especially, with Thanksgiving coming.
Back to the statistics though. If you would like these statistics for a township, zip code or in another form, just contact me. I’ll be happy to help.
Here is even more data along with the trend lines I discussed above.
Related posts:
- Chester County Statistics for September, 2008
- Chester County Statistics for August 2009
- West Chester Statistics for September, 2008
- Chester County Statistics for 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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