Delaware Valley Overlook

When looking at the year-to-month (using the most recently completed month of January) actual home sales statistics by year for Chester County, the results by year, for residential homes on the market, sold, average price and days for sale before close is charted as follows:

Yr Ending January	Units Listed	Units Sold	% Sold	Sold Avg.	Avg.  Dom
2008	11581	5776	50	$379,938	69
2007	12548	6614	53	$376,062	56
2006	11633	7161	62	$359,788	46
2005	10892	7504	69	$326,548	46
2004	9452	7031	74	$294,147	49

This shows some interesting trends in the number of units going on sale (listed), despite the decreased demand, which eventually begins to push down the price and extend the average days on market, the average sold price is still increasing, although the rate of increase in slowing.

The current Chester County inventory is 3470, with an average monthly Sold of 444, yielding a backlog of 7 months to sell off the inventory at current rates of sale.

Copyright 2008 by Lawrence Yerkes. All Rights Reserved.