The West Chester real estate market remains vibrant, with consistent sales volume and strong demand for homes across various price points. November 2024 highlights quick sales and increasing price per square foot, reflecting the area’s continued desirability.
Join Tim Reeder from the Tim Reeder Team at Coldwell Banker Media for a comprehensive analysis of this month’s trends and year-over-year comparisons.
📹 Watch the Market Update
📊 November 2024 Market Highlights
- Homes Sold: 25
- Median Sale Price: $585,000
- Average Sale Price: $622,800
- Median Days on Market: 5 (Fastest sale: 0 days; Longest sale: 63 days)
- Price Range: $325,000 – $1,100,000
- Average Price per Sq. Ft.: $316
- Average Home Size: 2,085 sq ft (Range: 980 – 3,967 sq ft)
Year-Over-Year Market Comparison
- Number of Homes Sold:
- November 2023: 25
- November 2024: 25
Sales volume remains steady.
- Average Sale Price:
- November 2023: $673,700
- November 2024: $622,800
A 7.6% adjustment in average sale prices.
- Average Home Size:
- November 2023: 2,410 sq ft
- November 2024: 2,085 sq ft
This year’s homes were typically more compact.
- Price per Square Foot:
- November 2023: $292
- November 2024: $316
An 8.2% increase in value per square foot.
- Price Range:
- November 2023: $325,000 – $926,000
- November 2024: $325,000 – $1,100,000
An expansion in the upper-end price range.
Key Market Insights
- For Buyers:
West Chester continues to offer a variety of homes across a wide price range, but quick sales and above-list-price performance indicate a competitive market. Be prepared to act swiftly and strategically. - For Sellers:
Homes are selling quickly, often within days, and for an average of 101.5% of their list price. Proper pricing and preparation can maximize returns in this active market.
Market Opportunities
The West Chester market showcases stability and strong demand, with increasing price per square foot underscoring property value appreciation. While average sale prices have adjusted slightly, the quick sales pace reflects the area’s ongoing desirability.
✓ Contact the Tim Reeder Team at Coldwell Banker Media to explore how these market trends can help you achieve your real estate goals in West Chester. Let’s make your next move a success!