August Real Estate Market Report for West Chester Area School District
34% homes that sold in West Chester Area School District in August sold for under $500,000.
That is the highest number of homes sold at that price point all year. For comparison, only 22% of homes sold under $500,000 in July.
Throughout June, July, and August, West Chester saw just over 100 home sales per month making it a busy summer market. However, August brought the lowest monthly average home sale price at $677,886, down almost $37,000 from July. We also saw 31 homes sell for under asking price, the highest number all year.
While West Chester’s Real Estate market has been the very strong all year, this is the first time that we are seeing the trends that we have seen in other markets affect WC as well, such as more homes selling below asking price.
It is still a great seller’s market, but buyers have more chances of finding ‘deals’ amongst the overpriced homes that have been sitting on the market. It’s also a great time for buyers to take advantage of the interest rates coming down.
