All Indicators Point to a Healthy Housing Market in Chester County

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A number of indicators in the first six months of the year point to a healthy housing market in the Philadelphia region, particularly in Chester County. Above, a Victorian Gothic home at 409 S. Church Street in West Chester.

A number of indicators in the first six months of the year point to a healthy housing market in the Philadelphia region, writes Natalie Kostelni of the Philadelphia Business Journal.

Generally speaking, prices rose. Sales increased. And the number of days on the market shrank.

According to Kostelni, real estate agents were prepared heading into the spring. They saw early in the year that low interest rates combined with a dwindling inventory had already turned it into a market where sellers had the upper hand.

Chester County logged the highest median sale price at $309,000, an increase of 1.3 percent from the same period last year.

Two Chester County towns saw the biggest bumps in prices. Easttown had the highest price at $588,700, a 13.5 percent increase over last year, and West Pikeland at $567,500, a 19.5 percent increase.

Montgomery County experienced the highest number of single-family houses sold in the first six months of 2016 at 3,080, an 8.8 percent increase from the first six months of 2015.

The Main Line, which has struggled at the very high-end of the market, saw some relief. In all, 1,468 homes were sold in the first half of 2016, up 17.7 percent and median home prices rose just by 1.5 percent to $396,000.

Click here to read more about the regional real estate from the Philadelphia Business Journal.

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