During the pandemic, Chester County proved to be a hot spot for people moving out of densely populated areas. Relocators sought larger homes, rolling hills, and spaces more conducive to social distancing. The residential real estate market continues to churn, writes Kennedy Rose for the Philadelphia Business Journal.

Holly Gross, a realtor with Berkshire Hathaway HomeServices Fox & Roach, has not seen a market like this in four decades of selling properties.

“Chester County has never experienced a market like this ever in its history,” she said.

Inventory is low, and homes continue to receive multiple offers. In August, just under 800 homes were listed, a decline of 3.5 percent from 2020.

Houses spend a median of six days on the market. In fact, inventory is so depleted that homes that would usually spend 6-18 months on the market are selling immediately.

Also, the number of closed sales dropped by just three percent year-over-year for August, and the median sales price rose by 7.5 percent above last year to $430,000.

Read more about the residential real estate market in the Philadelphia Business Journal.