Is Chester County, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Chester County has remained a Seller's Market.
Key Takeaway
Chester County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Chester County, PA
How much do homes in Chester County, PA cost?
Median Sold Price
$511,000
$229/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Chester County have sold for 6% more than they did a year ago.
Summary: The median home sold price in Chester County was $511,000 in June 2024, up 6% from last year, and the median price per square foot was $229.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $225K | $229.9K | +2.2% |
| 2 Bedrooms | $325.2K | $350K | +7.6% |
| 3 Bedrooms | $409.4K | $434.6K | +6.2% |
| 4 Bedrooms | $590K | $649.9K | +10.2% |
| 5+ Bedrooms | $865K | $886.6K | +2.5% |
Summary: Chester County housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.2%, 2 bedroom homes increased by 7.6%, 3 bedroom homes increased by 6.2%, 4 bedroom homes increased by 10.2%, and 5+ bedroom homes increased by 2.5%.
Median Sold Price Compared To Nearby Counties
| Lancaster County | $300.7K | $328.9K | +9.4% |
| Chester County | $482.1K | $511K | +6.0% |
| New Castle County | $330.4K | $350K | +5.9% |
| Montgomery County | $410K | $432.9K | +5.6% |
| Delaware County | $317.9K | $335.3K | +5.5% |
Housing Supply in Chester County, PA
How many homes are available in Chester County, PA?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 1,549 | 1,556 | 0.5% |
Summary: The Chester County real estate market had 1,556 homes for sale in June 2024, a 0.5% increase compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 14 | 13 | -7.1% |
| 2 Bedrooms | 110 | 96 | -12.7% |
| 3 Bedrooms | 622 | 614 | -1.3% |
| 4 Bedrooms | 599 | 621 | +3.7% |
| 5+ Bedrooms | 204 | 212 | +3.9% |
Summary: The Chester County housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 7.1%, 2 bedroom homes decreased by 12.7%, 3 bedroom homes decreased by 1.3%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes increased by 3.9%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 442 | 484 | +9.5% |
Asking Price vs. Sold Price
103 Homes Were Sold
Under Asking
83 Homes Were Sold
At Asking
298 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Chester County, you could pay more than the asking price. 61.6% of homes here sold above asking price last month.
Summary: A total of 484 homes were sold or pending in Chester County in June 2024, up by 9.5% month-over-month. Of the 484 sold homes, 21% were sold under asking, 17% were sold at asking, and 62% were sold over asking.
Days on Market for Chester County, PA
How long does it take to sell a home in Chester County, PA?
Average Sale Time
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 14 Days | 16 Days | +8.6% |
Summary: Homes in Chester County had an average of 16 days on market in Jun 2024, up by 8.6% compared to last year.
Breakdown of Home Sale Times
429 Homes Were Sold
Under 30 Days
40 Homes Were Sold
In 30 - 90 Days
15 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Chester County are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 484 homes were sold in Chester County; 89% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
The multiple listing information is provided by West Penn Multi-List, Inc. Information deemed reliable, but not guaranteed. IDX info provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale, change, or withdrawal. Listings displaying the IDX logo belong to brokers other than this broker. Neither the listing broker(s) nor this broker or the MLS shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless.