March West Chester Borough Real Estate Update
The real estate market in West Chester Borough remained quiet in March, with just six closed home sales—a number that may seem low but is actually right on par for the season. Why the slowdown? It’s all about timing: the homes that closed in March likely went under contract in January and February, months that are notoriously low on inventory.
But low inventory doesn’t mean low demand.
In fact, five out of the six homes sold in just three days or less, and the average time in escrow was 37 days. That kind of speed tells us buyers are ready to pounce—and sellers are getting strong offers.
The average sale price landed at $595,916, and for those homes that sparked bidding wars, sellers came out ahead: three properties sold above asking, by an average of $46,833.
Looking ahead, if the pattern from last year holds, we’re about to see a spring surge. March 2023 had 7 sales, which nearly doubled to 13 in April. We’re expecting a similar jump this time around as more inventory hits the market and buyers come out in full force.
