Chester County PA Real Estate Market Trends Report - February 2016
Homeowners looking to sell and move to a new place are in a great position; according to the National Association of REALTORS®’ 2015 Profile of Home Buyers and Sellers, sellers are seeing the sales price of their home creep up closer to list price—the median sales price as a percent of the listing price is 98 percent. Just a few years ago, in 2011, owners were selling their home for 95 percent of the list price. The amount of time a property sits on the market also matters in the sales price compared to the listing price. For homes that lasted less than a week on the market, half were sold for full listing price, while another 19 percent were sold for more than that price. The sale-to-list price ratio falls as time goes on (for example, homes that are on the market for 5-8 weeks are only sold for 100 percent of the listing price 17 percent of the time and more than listing price only 3 percent of the time).
Take a look at how many successful home sellers there were in our market in February:
Chester County PA Real Estate Market Trends for February 2016
2,416 Chester County PA single family homes for sale in February 2016 which is a 4,67% increase from February 2015. 276 homes sold in February with a median sales price of $305,000, a 6.72% decrease from February 2015.
The supply of inventory is 4.5 compared to 4.9 in February 2015 and the Sales vs List Price is 93.2%.
| Date | Homes For Sale |
Months Supply Inventory |
Homes Sold |
Median Sales Price |
Sales Price vs List Price |
| Feb 2016 | 2,416 | 4.5 | 276 | $305,000 | 93.2% |
| Feb 2015 | 2,308 | 4.9 | 276 | $327,000 | 94.6% |
Curious about the value of your home? Get your home's value here!
