Is Chester, PA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Chester is a buyer's market

Buyer's
Market

Difference Since February 2023

Since last year, Chester has remained a Buyer's Market.

Key Takeaway

Chester is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Chester, PA

How much do homes in Chester, PA cost?

Median Sold Price

$115,000

$85/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$15,000(+15.0%)

Key Takeaway

Homes in Chester have sold for 15% more than they did a year ago.

Summary: The median home sold price in Chester was $115,000 in February 2024, up 15% from last year, and the median price per square foot was $85.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $89.9K-
N/A
2 $75K$94K
+25.3%
3 $99.9K$115K
+15.0%
4 $168.4K$132.5K
-21.4%
5+ $135K$182.5K
+35.2%

Summary: Chester housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 25.3%, 3 bedroom homes increased by 15%, 4 bedroom homes decreased by 21.4%, and 5+ bedroom homes increased by 35.2%.

Median Sold Price Compared To Nearby Cities

Chester
+15.0%
Upland
+8.7%
Chester Township
-26.5%

Housing Supply in Chester, PA

How many homes are available in Chester, PA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
144164+13.9%

Summary: The Chester real estate market had 164 homes for sale in February 2024, a 13.9% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 22
0.0%
2 1519
+26.7%
3 97110
+13.4%
4 2831
+10.7%
5+ 22
0.0%

Summary: The Chester housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 26.7%, 3 bedroom homes increased by 13.4%, 4 bedroom homes increased by 10.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
10100.0%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Chester, you may be able to get a good deal. 60% of homes here sold below asking price last month.

Summary: A total of 10 homes were sold or pending in Chester in February 2024, the same as the previous month. Of the 10 sold homes, 60% were sold under asking, 10% were sold at asking, and 30% were sold over asking.

Days on Market for Chester, PA

How long does it take to sell a home in Chester, PA?

Average Sale Time

Feb 2023Feb 2024CHANGE
51 Days34 Days-32.9%

Summary: Homes in Chester had an average of 34 days on market in Feb 2024, down by 32.9% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Chester are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 10 homes were sold in Chester; 50% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

Newest Listings in Chester, PA

Nearby Markets to Chester, PA

What housing markets are near Chester, PA?