August's Tri-State Real Estate Market Report - Better Than Anticipated!

If you are like me and love to boat and fish, you know how true that saying goes. It even applies to real estate! The red sky mornings are OVER and NOW it's clear red sky's at night for Chester County!

Year over year, for Chester County, the number of units that went pending in August where up 22.5% and the total number of units that settled where up 24.6%! Every market that I service has had an increase in the number of pending and settled units, yet the media is still shouting gloom and doom in this "economic turmoil".

I strongly urge you to take a look at the reports straight from TrendMLS (the Multiple Listing Service) and determine your own opinion of what the market is truly like. The numbers speak for themselves!

Please click on your County below for the detailed PDF of your market area. Please keep in mind that some of the numbers before June are skewed because of the Federal Tax Credit offered in the first 6 months of 2010.

Interest rates are starting to climb a little. A 30 year fixed rate is about 4.125% and a 15 year fixed rate is around 3.125%. There is a possibility of getting a lower rate with points too. Great time to buy and sell!

Chester County

Delaware County

New Castle County

Tri-State Area Year-To-Date Market Snapshot

Chip Plumley can be reached at (610) 444-9090 or (610) 357-8635. Prudential Fox & Roach is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company. Equal Housing Opportunity.

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