Is West Chester, 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, 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
$563,811
$252/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in West Chester have sold for 9.5% more than they did a year ago.
Summary: The median home sold price in West Chester was $563,811 in April 2024, up 9.5% from last year, and the median price per square foot was $252.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $215K | $229K | +6.5% |
| 2 Bedrooms | $352K | $358.5K | +1.8% |
| 3 Bedrooms | $480K | $513.6K | +7.0% |
| 4 Bedrooms | $645K | $711K | +10.2% |
| 5+ Bedrooms | $850K | $960K | +12.9% |
Summary: West Chester housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.5%, 2 bedroom homes increased by 1.8%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 10.2%, and 5+ bedroom homes increased by 12.9%.
Median Sold Price Compared To Nearby Cities
| West Chester | $515K | $563.8K | +9.5% |
| West Goshen Township | $553.7K | $588.7K | +6.3% |
Housing Supply in West Chester, PA
How many homes are available in West Chester, PA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 204 | 252 | +23.5% |
Summary: The West Chester real estate market had 252 homes for sale in April 2024, a 23.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 10 | +25.0% |
| 2 Bedrooms | 37 | 33 | -10.8% |
| 3 Bedrooms | 68 | 82 | +20.6% |
| 4 Bedrooms | 65 | 89 | +36.9% |
| 5+ Bedrooms | 26 | 38 | +46.2% |
Summary: The West Chester housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes decreased by 10.8%, 3 bedroom homes increased by 20.6%, 4 bedroom homes increased by 36.9%, and 5+ bedroom homes increased by 46.2%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 53 | 72 | +35.8% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
48 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Chester, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 72 homes were sold or pending in West Chester in April 2024, up by 35.8% month-over-month. Of the 72 sold homes, 17% were sold under asking, 17% were sold at asking, and 67% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 11 Days | 14 Days | +26.2% |
Summary: Homes in West Chester had an average of 14 days on market in Apr 2024, up by 26.2% compared to last year.
Breakdown of Home Sale Times
64 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
4 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 April 2024, 72 homes were sold in West Chester; 89% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
