West Chester Borough Real Estate Report for June
Although the weather was hot in June, the West Chester borough real estate market cooled drastically.
There were only 9 home sales in June, which was almost half of the 17 sales we saw in May. The sales volume also took a drastic dip to just over $5,000,000, after we saw more than double that number in May at 11,000,000. While the number of home sales obviously contributes largely to that number, we also saw the avg. home sale price plummet by just over $80,000, from $655,311 to $575,277.
While there were fewer homes on the market, the competition was still fierce, with 6 of the 9 homes selling over asking price by an avg. of $43,583. It’s still a great time to list your home as there is less competition on the market. Buyers can take advantage of homes that are over-priced and sitting on the market by making offers on those homes with no competition.
