About Chester County, PA

ALL REAL ESTATE MARKETS ARE LOCALIZED!

• 367 homes went under contract in January which is up 26.1% over last year.
• 274 homes actually went through with settlement. An increase of 13.2% over January 2011.
• Those 274 homes that sold totaled $88,000,000 is sales! Unfortunately that's about a 2.7% decrease over last year.
• Only 3,124 homes are currently for sale which is about a 9.1 month's supply of inventory.
• The Average Settled Price to Original Listing Price was about 90.7%. So if you listed your home for $100,000, this says you may sell it for around $90,700. All-in-all, it was a good way to start off 2012! The winter didn't slow us down as everyone usually predicts. A buyer's market generally has a 6-12 month supply of homes, so we are still within that range. However, homeowners are selling there homes! Don't believe the media when they tell you things are getting worse.

• 426 homes went under contract in January which is up 71.8% over last year.
• 296 homes actually went through with settlement. An increase of 28.7% over January 2011.
• Total volume of those homes that sold totaled $56,000,000 is sales! That's an increase of 1.1%!
• Only 2,755 homes are currently for sale which is about a 7.6 month's supply of inventory.
• The Average Settled Price to Original Listing Price was about 88.6%. So if you listed your home for $100,000, this says you may sell it for around $88,600. WOW NEW CASTLE COUNTY! Old Man Winter didn't slow us down at all! Remember, a buyer's market generally has a 6-12 month supply of homes, but a balanced market generally has 4-5 month's worth of inventory. Homeowners are selling there homes! Are we possibly heading for a balanced market once again?

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.

Interest rates are starting to climb a little. A 30 year fixed rate is about 3.875% and a 15 year fixed rate is around 3.5%. 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

Marketwatch Report - 2011:Q4 Report

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.

ChipPlumley.com

OK, it’s been great having temperatures in the 50’s this winter. But when it gets below 30 degrees and the wind blows so hard it keeps me awake at night, I need some respite for my weary mind. So I take myself back to Longwood Gardens in nearby Kennett Square, PA and recall the gorgeous orchids on display in the conservatory in the past.

I know it’s orchid time again, but until I can get myself over there (waiting for a warm and sunny day when the long walk from the visitors’ center won’t freeze my nose off), I will bask in the glory of these orchid photos I took a couple of years ago.

I love to sit Open Houses especially this time of year when people are getting out and about to see homes that are on the market. I chose to sit this home at 160 Sheldrake Drive in Paoli, PA 19301 this Sunday from 2-4 PM. It was the model home for the development when it was first built 49 years ago, and this is the first time it has been on the market since then. Situated on a nice lot of 0.64 acres it has a nice presence in the neighborhood.

It is a solid stone colonial, and I wrote about what is a colonial a few weeks ago, and this one is in excellent condition according to the listing agent, with deep window sills, hardwood floors, wood burning fireplace, built in book shelves and much more. I am looking forward to seeing the home. Taxes at $6483 last year are reasonable for this area for the size of the lot and the home. Whilst it is close to downtown Paoli, with its shops and train station, this neighborhood is not a high traffic area and the homes are set amid mature trees giving pleasant shade during hot summer days.

So stop on by and visit for a while at this home filled with character priced at $599,000, it will be open Sunday February 12th from 2-4 PM, this may just be your Valentine!

For those who live here, the condo association fee at first seems high but it covers lots of things.

Gas for the dryer, gas for cooking, gas for hot water, water, pool fee, tennis courts, exterior maintenance, trash collection, a club house and snow clearing, a host of social activities arranged for homeowners and those who rent here.

What it does not cover is the cost for the sewer, this is billed separately and this year it is $250, bills go out during February and are due March 1st, if you are later than March 10th there is a late fee. Like most places sewer bills are always in arrears, so you are actually paying for your 2011 fee.

Your other utilities cable either Verizon or Comcast are available is extra, gas for your heating and electricity are not included in your condo fee and are paid separately.

As I mentioned Old Forge has an active community, and some events taking place in the coming months are a Spring Brunch March 4th 11 - 1 PM to which you bring a dish to share.

March 16th St Patrick's Day Happy Hour at 5 PM in the Clubhouse

And the annual Old Forge Crossing Flea market and Crafts Fair Saturday April 28th from 8 - 1 PM. Contact the management office if you are interested in a table.

A good number to know if you live in Old Forge Crossing is the emergency hot line 610-687-5678 especially if you have a sewer or sink back up in the evening or over a weekend, call this number to avoid damage and stop any problems for your neighbors.

Old Forge Crossing is in a great location, it is a great place to live, either as a homeowner or as a tenant. Old Forge Crossing is an approved condo development for FHA loans making purchasing easier here than other condo developments not approved. If you need details on any available properties give me a call and we can help you.

The maximum sold price for a house was $2,354,000.

The minimum sold price for a house was $22,500.

The average sold price was $314,572.

The average amount of days on the market was 112.

290 residential houses sold in Chester County in January 2012.


(Information from Trend MLS)

Previous Reports for Chester County, Pennsylvania
(Missing a report you would like to see? Let us know)
First Quarter 2011 Chester County PA
Second Quarter 2011 Chester County PA

Chester County, Pennsylvania Real Estate - Houses Sold January 2012