Is Chester County, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$503,054
$225/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Chester County have sold for 7% more than they did a year ago.
Summary: The median home sold price in Chester County was $503,054 in April 2024, up 7% from last year, and the median price per square foot was $225.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $218K | $226.5K | +3.9% |
| 2 Bedrooms | $319.9K | $340.7K | +6.5% |
| 3 Bedrooms | $399.9K | $429.5K | +7.4% |
| 4 Bedrooms | $585.6K | $626.5K | +7.0% |
| 5+ Bedrooms | $857K | $887.7K | +3.6% |
Summary: Chester County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.9%, 2 bedroom homes increased by 6.5%, 3 bedroom homes increased by 7.4%, 4 bedroom homes increased by 7%, and 5+ bedroom homes increased by 3.6%.
Median Sold Price Compared To Nearby Counties
| Lancaster County | $299.9K | $325.3K | +8.5% |
| Chester County | $469.9K | $503K | +7.0% |
| Delaware County | $317.2K | $334.5K | +5.5% |
| New Castle County | $329.8K | $345K | +4.6% |
| Montgomery County | $409.6K | $425.2K | +3.8% |
Housing Supply in Chester County, PA
How many homes are available in Chester County, PA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1,082 | 1,319 | +21.9% |
Summary: The Chester County real estate market had 1,319 homes for sale in April 2024, a 21.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 16 | 17 | +6.3% |
| 2 Bedrooms | 113 | 103 | -8.8% |
| 3 Bedrooms | 454 | 543 | +19.6% |
| 4 Bedrooms | 360 | 482 | +33.9% |
| 5+ Bedrooms | 139 | 174 | +25.2% |
Summary: The Chester County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 6.3%, 2 bedroom homes decreased by 8.8%, 3 bedroom homes increased by 19.6%, 4 bedroom homes increased by 33.9%, and 5+ bedroom homes increased by 25.2%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 283 | 325 | +14.8% |
Asking Price vs. Sold Price
72 Homes Were Sold
Under Asking
50 Homes Were Sold
At Asking
203 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Chester County, you could pay more than the asking price. 62.5% of homes here sold above asking price last month.
Summary: A total of 325 homes were sold or pending in Chester County in April 2024, up by 14.8% month-over-month. Of the 325 sold homes, 22% were sold under asking, 15% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 19 Days | 17 Days | -8.5% |
Summary: Homes in Chester County had an average of 17 days on market in Apr 2024, down by 8.5% compared to last year.
Breakdown of Home Sale Times
281 Homes Were Sold
Under 30 Days
26 Homes Were Sold
In 30 - 90 Days
18 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 April 2024, 325 homes were sold in Chester County; 86% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
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