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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Chester County is a seller's market

Buyer's
Market

Difference Since October 2021

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.

How much do homes in Chester County, PA cost?

Median Sold Price

$446,289

$202/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2021

+$36,728(+9.0%)

Key Takeaway

Homes in Chester County have sold for 9% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2021Oct 2022%
1 $188K$210K
+11.7%
2 $260.1K$280K
+7.6%
3 $344.9K$374.9K
+8.7%
4 $504.1K$564.6K
+12.0%
5+ $725K$816K
+12.6%

Median Sold Price Compared To Nearby Counties

Lancaster County
+11.8%
New Castle County
+10.3%
Chester County
+9.0%
Cecil County
+7.6%
Delaware County
+6.0%

How many homes are available in Chester County, PA?

Number of Homes For Sale

Sep 2022Oct 2022%
1,5881,432-9.8%

Homes For Sale By Bedroom Count

# BEDSSep 2022Oct 2022%
1 53
-40.0%
2 123114
-7.3%
3 671574
-14.5%
4 594559
-5.9%
5+ 195182
-6.7%

Number of Homes Sold

Sep 2022Oct 2022%
488364-25.4%

Asking Price vs. Sold Price

124 Homes Were Sold
Under Asking

68 Homes Were Sold
At Asking

172 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Chester County, you could pay more than the asking price. 47.3% of homes here sold above asking price last month.

Average Sale Time

Oct 2021Oct 2022%
16 Days17 Days+10.1%

Breakdown of Home Sale Times

301 Homes Were Sold
Under 30 Days

55 Homes Were Sold
In 30 - 90 Days

8 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

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

About Chester County, PA

Number of homes for sale in Chester County, PA real estate market have reached 1,432. The number of homes for sale in Chester County, PA decreased by 9.8% between September 2022 and October 2022. While the average time on the market in October 2022 was 17 days, the median list price was $446,289. Between September 2022 and October 2022, listing prices of homes in this real estate market have seen the following changes: prices of 1 bedroom properties increased by 11.7%, the cost of 2 bedrooms properties went up by 7.6%, 3 bedrooms properties became 8.7% more expensive, 4 bedrooms properties prices increased by 12%, prices of 5 bedrooms properties increased by 12.6%. The following changes in the number of homes for sale were observed in this housing market: 1 bedroom homes inventory decreased by 40%, 2 bedrooms homes inventory decreased by 7.3%, volume of 3 bedrooms homes went down by 14.5%, number of 4 bedrooms homes decreased by 5.9%, 5 bedrooms homes inventory decreased by 6.7%. While more than 172 listings in Chester County, PA in October 2022 were sold above asking price, there were more than 68 listings sold at asking price, and more than 124 were sold below.

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