Is West Chester, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
Since last year, West Chester has remained a Seller's Market.
Key Takeaway
West Chester is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in West Chester, PA
How much do homes in West Chester, PA cost?
Median Sold Price
$563,400
$250/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Key Takeaway
Homes in West Chester have sold for 16.8% more than they did a year ago.
Summary: The median home sold price in West Chester was $563,400 in November 2023, up 16.8% from last year, and the median price per square foot was $250.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $235K | $229K | -2.6% |
| 2 Bedrooms | $343K | $350K | +2.0% |
| 3 Bedrooms | $452K | $511.6K | +13.2% |
| 4 Bedrooms | $594.5K | $700K | +17.7% |
| 5+ Bedrooms | $923K | $970K | +5.1% |
Summary: West Chester housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes decreased by 2.6%, 2 bedroom homes increased by 2%, 3 bedroom homes increased by 13.2%, 4 bedroom homes increased by 17.7%, and 5+ bedroom homes increased by 5.1%.
Median Sold Price Compared To Nearby Cities
| West Chester | $482.5K | $563.4K | +16.8% |
| West Goshen Township | $550K | $587.2K | +6.8% |
Housing Supply in West Chester, PA
How many homes are available in West Chester, PA?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 326 | 310 | -4.9% |
Summary: The West Chester real estate market had 310 homes for sale in November 2023, a 4.9% decrease compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 6 | 0.0% |
| 2 Bedrooms | 39 | 35 | -10.3% |
| 3 Bedrooms | 102 | 100 | -2.0% |
| 4 Bedrooms | 131 | 125 | -4.6% |
| 5+ Bedrooms | 48 | 44 | -8.3% |
Summary: The West Chester housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 10.3%, 3 bedroom homes decreased by 2%, 4 bedroom homes decreased by 4.6%, and 5+ bedroom homes decreased by 8.3%.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 79 | 78 | -1.3% |
Asking Price vs. Sold Price
28 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
38 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Chester, you could pay more than the asking price. 48.7% of homes here sold above asking price last month.
Summary: A total of 78 homes were sold or pending in West Chester in November 2023, down by 1.3% month-over-month. Of the 78 sold homes, 36% were sold under asking, 15% were sold at asking, and 49% were sold over asking.
Days on Market for West Chester, PA
How long does it take to sell a home in West Chester, PA?
Average Sale Time
| Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|
| 14 Days | 18 Days | +21.4% |
Summary: Homes in West Chester had an average of 18 days on market in Nov 2023, up by 21.4% compared to last year.
Breakdown of Home Sale Times
67 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in West Chester are selling fast, if you're buying plan to act quickly.
Summary: During November 2023, 78 homes were sold in West Chester; 86% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
