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Chester County PA Real Estate Market Trends -July 2015

Friday, August 28, 2015
by Scott Darling

Take a look at July's Chester County PA real estate sales broken down by school district.

Downingtown School District

The number of homes selling in the Downingtown school district in July 2015 dropped by 3.62% when compared to July 2014. The average selling price increased by 16% to $412,524. The median selling price rose by 5.6%, while the average market time decreased by 15 days.

Date Sold
Listings

Average
Selling Price

 Median
Selling Price		 Average
Days On Market
July 2015 130 $382,254 $372,500 42
July 2014 105 $386,067 $360,000 46

 

West Chester School District

The number of homes selling in the West Chester school district in July 2015 decreased by less than 1% when compared to July 2014. The average selling price decreased by 13.88% to $384,244. The median selling price decreased by 11.8% while the average market time decreased by 13 days.

Date Sold
Listings

Average
Selling Price

 Median
Selling Price		 Average
Days On Market
July 2015 138 $370,058 $355,000 36
July 2014 137 $429,687 $402,487 49

 

Coatesville School District

The number of homes selling in the Coatesville school district in July 2015 increased by 25% when compared to July 2014. The average selling price decreased by 3.64% to $231,849. The median selling price decreased 6.25%, while the average market time rose by 4 days.

Date Sold
Listings

Average
Selling Price

 Median
Selling Price		 Average
Days On Market
July 2015 75 $225,503 $217,500 56
July 2014 60 $234,019 $232,000 52

 

Great Valley School District

The number of homes selling in the Great Valley school district in July 2015 increased by 6.38% when compared to July 2014. The average selling price decreased by 10.03% to $524,687. The median selling price dropped by 6.48%, while the average market time decreased by 3 days.

Date Sold
Listings

Average
Selling Price

 Median
Selling Price		 Average
Days On Market
July 2015 50 $524,687 $411,500 43
July 2014 47 $583,155 $440,000 46



Unionville School District

The number of homes selling in the Unionville school district in July 2015 increased by 12.2% when compared to July 2014. The average selling price decreased by 9.54% to $533,715. The median selling decreased 3.6% while the average market time increased by 8 days.

Date Sold
Listings

Average
Selling Price

 Median
Selling Price		 Average
Days On Market
July 2015 46 $533,715 $481,250 56
July 2014 41 $590,018 $600,000 48



Tredyffrin-Easttown School District

The number of homes selling in the Tredyffrin-Easttown school district in July 2015 increased 16.67% when compared to July 2014. The average selling price increased by 10.71% to $614,428. The median selling price increased by 15.47%, while the average market time decreased by 4 days.

Date Sold
Listings

Average
Selling Price

 Median
Selling Price		 Average
Days On Market
July 2015 84 $614,428 $574,450 34
July 2014 72 $554,967 $497,500 38

 

Owen J Roberts School District

The number of homes selling in the Owen J Roberts school district in July 2015 increased by 33.33% when compared to July 2014. The average selling price increased by 13.14% to $385,075. The median selling price rose by 10.77% while the average market time increased by 6 days.  

Date Sold
Listings

Average
Selling Price

 Median
Selling Price		 Average
Days On Market
July 2015 40 $385,075 $360,000 80
July 2014 3048 $340,353 $325,000 74

 

Phoenixville School District

The number of homes selling in the Phoenixville school district in July 2015 increased by 9.09% when compared to July 2014. The average selling price increased by 17.44% to $247,520. The median selling price rose by 13.9%, while the average market time dropped by 7 days.

Date Sold
Listings

Average
Selling Price

 Median
Selling Price		 Average
Days On Market
July 2015 60 $247,520 $276,200 51
July 2014 55 $295,919 $242,500 58

 

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Questions You May Be Asked At an Open House

Thursday, August 20, 2015
by Scott Darling

Summer is the perfect time for Realtors to have open houses.  If you are in the market for a new house, don't be scared to attend open houses in your area.  As long as you go armed with the knowledge of what might be asked of open houseyou at an open house you should be ready to answer without worry or hesitation. Keep in mind that Realtors who hold open houses are not like used car salesmen, they are there to help you find the home of your dreams. Be polite and remember your open house etiquette when touring an open house. 

  • You may be asked at an open house how long you have been looking for a home.  This question is only asked to find out just how serious you are about purchasing a home and in what time frame you are planning to do so.  For example if you have already been looking for a few months then you are most likely more than ready to hone in on exactly what type of house you are looking for.  Be very specific with your answer to this question.
  • Another question you may be asked at an open house is if you already have an agent you are working with.  This question is asked because the Realtor wants to know if they can represent you in your search for a new home.  You may be asked who your agent is if you already have one.  Don't hesitate to give out names because all the Realtor wants to do is call your agent for feedback instead of bothering you with such things.  By answering this question you are keeping yourself from having to give out any of your own personal information.  This way you have a buffer between you and the Realtor who is holding the open house.
  • You may be asked if you are looking to buy in the specific neighborhood in which the open house is being held.  The Realtor is not trying to get all into your business by asking this question, he or she is just trying to find out if you really are serious about making a home purchase and what area you are interested in.  Just be honest with your answer, there is no right or wrong answer here. 

The main thing I would suggest to you when attending an open house is that you go in with an open mind.  Be willing to open up and answer any questions you might be asked with a clear honest answer.   You never know you may just be walking right in to your new dream home!

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Adding Value To Your Home With Outdoor Spaces

Wednesday, August 12, 2015
by Scott Darling

There are many reasons to consider adding an outdoor living area to your home! The benefits are many and personal. But, one added benefit is the value it can add.

A recent article in RISMedia, a real estate information leader, highlighted 5 reasons to invest in outdoor spaces. According to IBISWorld, a market research firm, “investing in outdoor living provides a good return on investment for most people, making it an ideal home improvement project.”

outdoor kitchen

Here are some benefits to consider:

  1. Personal enjoyment. Why spend money on home improvements unless they provide personal enjoyment for your family? This can range from providing a space to relax and unwind, to providing a place to simply enjoy each other and have fun, to providing fun for the kids.
     
  2. Save money by having an enjoyable place for your recreation right in your own backyard. Having outdoor spaces at your home means that it is custom made to your desires and you don’t have to get in your car to go somewhere else. The money saved in gas or fees to join a club can be better spent on your own space.
     
  3. Entertaining opportunities abound with your own private outdoor space. Imagine your indoor entertaining space flowing to the outdoors with a place for a fireplace or outdoor barbecue kitchen. It creates more opportunities for adults to have a space to talk and for the kids to have their own recreation opportunities.
     
  4. Benefits of nature. Lot’s of research demonstrates the benefits of spending time outdoors, including stress reduction and improved mental clarity and concentration. Stepping out of your indoor environment into a relationship with nature in any form transforms our ability to relax.
     
  5. Resale value of your home will be enhanced almost immeasurably by creating outdoor spaces. You shouldn’t necessarily count on recuperating 100% of the cost, but HGTV claims that homeowners recoup 65%-90% of their investment just by adding a deck! Meantime you and your family enjoy the added benefits of the outdoor living, and when you decide to sell there is an intangible added attraction for potential buyers.

Bob Dallas, CEO of UltraOutdoors.com, explains “not only is it good for the value of your home, but it’s a solid investment for…giving your family a relaxing area where they can re-charge their batteries.”

Research the many options including outdoor fireplaces, kitchens, water features, decks, sitting areas, and landscaping. The possibilities literally range from the extravagant to the very modest. Consider seeking the help of a design professional. The key is finding just the right combination of possibilities for the enjoyment of your family.

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Paint Color Tips for Selling Your Home

Friday, August 7, 2015
by Scott Darling

A new paint color in your home  can do wonders for your mood and it can also do wonders for helping to sell your home.  Paint colors can change your mood from happy to sad to relaxed or even make you angry.  Why not do your part to make selling your home as easy as you possibly can by choosing the right paint colors.  Below are some color ideas to get you started in the right direction.

  • paintBlue is a nice color for a home if you are looking for a peaceful feeling.  Many people choose to paint the walls in their bedroom blue so that they will be more able to get a good night’s sleep.  Some people like to paint a spa blue in their bathrooms to make it have a spa like feel.  You can’t go wrong with blue paint when it comes to getting your home ready to sell. 
     
  • Another color that gives a good tranquil feeling to everyone who enters your home is green.  Green is associated with nature and nature is typically peaceful.  You can use green in almost any room of your house where you want to feel calm and peaceful.  Some folks use light green paint in their bathrooms while others use darker earth tone greens in their family rooms. 
     
  • Yellow is a good color to paint in your home if you are interested in selling it because it makes folks feel happy and joyful.  What better feeling would you want your prospective buyers to feel than joy and happiness as they enter your home.  Typically yellows are used in hallways or large foyer areas.  It is best however to stick with soft yellow colors and not get too carried away by attempting such as a mustard yellow color.  Yellow paint done in the right way will appeal to most people. 
     
  • Be careful with painting grey in your home if you are trying to sell it because sometimes although you may be going for a warm inviting feel you may end up with a cold harsh feel and that is not something you want your buyers to pick up on.  Grey done right can be very relaxing and inviting.  Perhaps talking with a paint expert at your local hardware store might be a good idea before using grey.
     
  • Brown is a typical staple color in a lot of homes.  If you choose to paint beige which is a light form of brown in your home, you will likely find that it can be very warm and inviting to guests or potential buyers. 

I would suggest not using orange or red in your home as a new paint color if you are going to be putting your house on the market anytime soon.  These colors tend to make people feel anxious and or angry.  Painting your home in a few new colors is a perfect way to get it ready for a great showing!  Happy selling!

Information courtesy of Chester County PA Realtor Scott Darling.

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