West Chester Home Values Update: September 2024

If you’ve been wondering about home values in our area, you’ll be interested to know that West Chester’s housing market remains stable and strong. Let’s look at what’s happening in our community and what it means for your home’s value.

What Are Homes Selling For?

The numbers tell an encouraging story about our local market:

  • The typical (median) home sold for $530,000
  • On average, homes sold for $647,703
  • The lowest sale was $215,000
  • The highest sale was $1,578,156

How Does This Compare to Last Year?

When we compare to September 2023, we see some important changes:

  • Home values have grown significantly – the average sale price increased from $455,300 last year to $647,703 this year
  • Homes are still selling quickly – typically in 4 days compared to 5 days last year
  • The number of homes sold stayed the same at 25 properties
  • Homes continue to sell above their asking price

What Types of Homes Are Selling?

West Chester continues to attract buyers interested in all types of homes:

  • Smaller homes starting at 768 square feet
  • Larger family homes up to 4,308 square feet
  • Homes with 2 to 6 bedrooms
  • Properties with various features like updated kitchens and finished basements

What This Means for Your Home

If you’ve owned your home for several years, you may be pleasantly surprised by its current value. Here’s what we’re seeing:

  • Homes are generally selling for about 3% above their asking price
  • The market remains stable with consistent sales
  • Buyers are still actively looking in our area
  • All price ranges are seeing good activity

A Notable Sale in Our Community

One interesting sale worth mentioning happened at 900 Marina Court. This home sold for $1,578,156, which was significantly above its original asking price. While this is at the higher end of our market, it shows the continued appeal of West Chester properties.

Important Points for Homeowners

  • Home values have increased considerably since last year
  • Homes are selling quickly when priced appropriately
  • Buyers are still willing to pay above asking price for well-maintained homes
  • All types of homes, from smaller to larger properties, are finding buyers

Looking Ahead

The West Chester market continues to be a stable, desirable area for homeowners. Whether you’re thinking about selling or just want to know about your home’s value, these strong market conditions suggest that your investment in West Chester real estate remains sound.

What If You’re Thinking of Selling?

If you’re considering selling your home, here are a few key points to keep in mind:

  • Homes are selling quickly – typically in just 4 days
  • Buyers are still active in our market
  • Properties in all price ranges are selling
  • Well-maintained homes continue to attract strong interest

Need More Information?

Everyone’s home and situation is unique. While these general market trends are helpful, your home may have special features or circumstances that affect its value. For a more detailed discussion about your specific property, you’re welcome to contact our team at Skyline Real Estate/Coldwell Banker in Media.