September's Tri-State Real Estate Market Report

When you watch the news and they give you the "National Real Estate Stats" don't let that bother you. Even the Case-Schiller Index doesn't include the best data. If you put garbage in, you get garbage out. ALL REAL ESTATE MARKETS ARE LOCALIZED!

Year over year, for Chester County, the number of settled units compared to 2010 are only down by 155 homes! That represents less than a 4.5% decline! The average sales price year to date is $362,000 and this time last year it was $369,000. When the media is saying that homes are off 5%, 10% and, I've even heard, 20% compared to 2010, keep in mind that this $7,000 difference is only a 1.9% decrease. So really what "Doom & Gloom" are we facing?

I strongly urge you to take a look at the reports straight from TrendMLS (the area's 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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