When looking at the year-to-month actual statistics (using the most recently completed month of March vs. January) for Chester County, the results for residential homes on the market, sold, average price and days for sale before close is charted as follows:
Yr Ending | Units Listed | Units Sold | % Sold | Sold Avg. | Avg. |
| 03/2008 | 11540 | 5556 | 48 | $380,116 | 70 |
01/2008 | 11581 | 5776 | 50 | $379,938 | 69 |
See previous article for prior year 01/200X year-to-date comparison.
This shows that while the trend is still downward, it is slowing and hopefully will soon start to level and even reverse direction.
The current inventory is 3925, with an average monthly Sold of 428, yielding a backlog of 9 months to sell off the inventory at current rates of sale.
Copyright 2008 by Lawrence Yerkes. All Rights Reserved.
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