Chester County Market Statistics – October 2011

By John Lauber On October 29, 2011 · Leave a Comment

Chester County Market Statistics for October, 2011

As the end of the October approaches and everyone is running around finalizing their Halloween costumes, we thought it would be good time to get the October statistics posted. It’s really not so scary in this area.

As you can see in the above slide there are currently 3861 residential listings active. Our days on market have increased by 10 from this time last year, and the number of sold listings is down about that many too. The current absorption rate is running around 10 months of inventory. List to sale price, while not shown on this chart, has been hovering around 92%, on average from the same time last year.

Overall, we’ve been fairly consistent throughout the year from an inventory, sales, and the number of pending homes. These numbers fluctuate in this same manner, every year, similarly, for at least the past 5 years. Are prices down? Yes. Are the number of solds down? Maybe. However, homes that have been priced correctly, for today’s market, are selling. It may not happen as quickly as sellers, and agents, would like, but they are selling. The days on market, in the chart, definitely reflects that.

So as we close October, already(?), things are not so gloomy. We wish you a happy Halloween and if your buying or selling, or thinking about buying or selling, feel free to contact us to discuss your current situation.

We’re here to help!