Local Areas & All of Chester County
Jean’s December Analysis
What struck me when I gathered the statistics for December 2008 for the charts above was the difference between the Average Active List Price and the Average SOLD price…PRICE is 80% of the marketing of your home. Until the price is right, it WILL NOT sell!
Inventory accumulation: As a statistic, this is expressed in months averaged over a one year period and indicates the supply of homes for sale vs. homes sold. A 6-month’s supply of homes is a stable, even market. As you increase to 9-12 months, you are in a Buyer’s Market. Anything less than 6 months means you are moving toward a Seller’s Market. In 2004, there was a 1-3 month supply of homes on the market—a Seller’s Market. Some areas of Chester County are at a 6-month supply ranging upwards to an 18-month supply. Overall, Chester County’s inventory accumulation is 8 months.
