September West Chester Borough Real Estate Market Report

5 of the 8 listings in West Chester Borough sold for over asking price in September.

The average days on the market for those 5 listings was 2.5 days, meaning they all sold in a weekend. Taking out the outlier, they sold on average for $12,000 over asking. So, buyers are making reasonable offers to get the home that they want - no more offering crazy over-asking (on most houses).

Now, there will always be one that can pop up in the borough that goes for a crazy amount over ask and we haven’t seen that in a few months. But in September, we saw this little bungalow sell for $146,000 over ask to tear down.

On the contrary, there were 3 homes that sold under asking price, and their average days on the market was 34 days. Just over a month. And they sold for an avg. of $53,000 under ask. This is why it is so important to price your home correctly from the start.

With those homes that have been on the market for a long time finally selling, there is much less stale inventory. New listings are popping up and going quickly again in the borough. If you are looking to buy or list but don’t know where to start, reach out to me today for your free guide!