Chester County Housing Market Data

There was an increase in total units sold in May, with 615 sold this month in Chester County Real Estate versus 508 last month, an increase of 21%. This month's total units sold was higher than at this time last year, an increase of 23% versus May 2012.

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Versus last year, the total number of homes available this month is lower by 741 units or 20%. The total number of active inventory this May was 3,017 compared to 3,758 in May 2012. This month's total of 3,017 is higher than the previous month's total supply of available inventory of 2,885, an increase of 5%.

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Last May, the median sale price for Chester County Homes was $285,000. This May, the median sale price was $297,940, an increase of 5% or $12,940 compared to last year. The current median sold price is 3% higher than in April.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

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In May, there was 4.9 months of supply available in Chester County, compared to 7.5 in May 2012. That is a decrease of 35% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

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This month there were 998 homes newly listed for sale in Chester County compared to 931 in May 2012, an increase of 7%. There were 549 current contracts pending sale this May compared to 531 a year ago. The number of current contracts is 3% higher than last May.

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Click here to compare the current contracts of this area against other locations.

In May, the average sale price in Chester County was 96.7% of the average list price, which is 0.6% higher than at this time last year.

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This month, the average number of days on market was 74, lower than the average last year, which was 96, a decrease of 23%.

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Focus On: Chester County Housing Market			May 2013
Units Sold 615	Active Inventory 3,017	Median Sale Price $297,940	Days On Market 74

Up 23% Vs. Year Ago	Down -20% Vs. Year Ago	Up 5% Vs. Year Ago	Down -23% Vs. Year Ago

iCharts		Units Sold There was an increase in total units sold in May, with 615 sold this month in Chester County Real Estate versus 508 last month, an increase of 21%. This month's total units sold was higher than at this time last year, an increase of 23% versus May 2012. Click here to compare the units sold of this area against other locations.
Active Inventory Versus last year, the total number of homes available this month is lower by 741 units or 20%. The total number of active inventory this May was 3,017 compared to 3,758 in May 2012. This month's total of 3,017 is higher than the previous month's total supply of available inventory of 2,885, an increase of 5%. Click here to compare the active inventory of this area against other locations.		iCharts
iCharts		Median Sale Price Last May, the median sale price for Chester County Homes was $285,000. This May, the median sale price was $297,940, an increase of 5% or $12,940 compared to last year. The current median sold price is 3% higher than in April. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median. Click here to compare the median sale price of this area against other locations.



New Listings 998	Current Contracts 549	Sold Vs. List Price 96.7%	Months of Supply 4.9

Up 7% Vs. Year Ago	Up 3% Vs. Year Ago	Up 0.6% Vs. Year Ago	Down -35% Vs. Year Ago

iCharts		Months of Supply In May, there was 4.9 months of supply available in Chester County, compared to 7.5 in May 2012. That is a decrease of 35% versus a year ago. Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand. Click here to compare the months of supply of this area against other locations.
New Listings & Current Contracts This month there were 998 homes newly listed for sale in Chester County compared to 931 in May 2012, an increase of 7%. There were 549 current contracts pending sale this May compared to 531 a year ago. The number of current contracts is 3% higher than last May. Click here to compare the new listings of this area against other locations. Click here to compare the current contracts of this area against other locations.		iCharts
iCharts		Sale Price to List Price Ratio In May, the average sale price in Chester County was 96.7% of the average list price, which is 0.6% higher than at this time last year. Click here to compare the sale price to list price ratio of this area against other locations.
Days on Market This month, the average number of days on market was 74, lower than the average last year, which was 96, a decrease of 23%. Click here to compare the days on market of this area against other locations.		iCharts



*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
Information included in this report is based on data supplied by TReND and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of TReND or Long & Foster Real Estate, Inc.