Welcome to the end of November. Better late than never, but here’s the Chester County real estate statistics for October, 2009. As always, here’s the chart first:
As you can see, under contract listings vs new listings rose again in October. The median and average price did take a bit of a dip again. I think most of that is the first time buyer credit. Buyers were anxious to take advantage of the prior deadline (11/30/2009) which meant lower priced homes targeted. Now that the extension was passed (more on that in another post), we’ll need to see how that affects sales. Days on market and residual inventory (as well as new listings) continued down. So what did this do to the county’s absorption rate? It went down to from 8 to 7.7 months of inventory. That makes the average since January around 9.25 vs all of last year at almost 11. Of course, if you look at some of the higher price ranges these numbers increase more dramatically. They are selling, but it’s going to take some time and, hopefully, as the lower price ranges pick up, the domino effect will help the upper ranges.
If you want information on your area, just contact me and I’ll be happy to pass along the information.
See the charts below:
Related posts:
- Chester County Statistics for October, 2008
- West Chester Statistics for October, 2008
- Chester County Statistics for August 2009
- Chester County Statistics for February 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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