$7,363 Closing Credit*
$620,000
2,280 SqFt
3 Beds
•3 Full Baths
Brenda Smith, Listing Office: Engel & Volkers
Is West Chester, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, West Chester has remained a Seller's Market.
Key Takeaway
West Chester is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in West Chester, PA
How much do homes in West Chester, PA cost?
Median Sold Price
$562,223
$260/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$4,737(+0.8%)
Key Takeaway
Homes in West Chester have sold for 0.8% more than they did a year ago.
Summary: The median home sold price in West Chester was $562,223 in October 2024, up 0.8% from last year, and the median price per square foot was $260.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $229K | $234.5K | +2.4% |
| 2 Bedrooms | $347K | $360K | +3.7% |
| 3 Bedrooms | $509K | $512.3K | +0.7% |
| 4 Bedrooms | $700K | $720.6K | +3.0% |
| 5+ Bedrooms | $970K | $970.1K | 0.0% |
Summary: West Chester housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.4%, 2 bedroom homes increased by 3.7%, 3 bedroom homes increased by 0.7%, 4 bedroom homes increased by 3%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| West Goshen Township | $570.9K | $630K | +10.4% |
| West Chester | $557.4K | $562.2K | +0.8% |
Housing Supply in West Chester, PA
How many homes are available in West Chester, PA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 293 | 302 | +3.1% |
Summary: The West Chester real estate market had 302 homes for sale in October 2024, a 3.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 5 | -16.7% |
| 2 Bedrooms | 46 | 53 | +15.2% |
| 3 Bedrooms | 102 | 100 | -2.0% |
| 4 Bedrooms | 105 | 107 | +1.9% |
| 5+ Bedrooms | 34 | 37 | +8.8% |
Summary: The West Chester housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes increased by 15.2%, 3 bedroom homes decreased by 2%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes increased by 8.8%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 86 | 83 | -3.5% |
Asking Price vs. Sold Price
34 Homes Were Sold
Under Asking
19 Homes Were Sold
At Asking
30 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Chester, you may be able to get a good deal. 41% of homes here sold below asking price last month.
Summary: A total of 83 homes were sold or pending in West Chester in October 2024, down by 3.5% month-over-month. Of the 83 sold homes, 41% were sold under asking, 23% were sold at asking, and 36% were sold over asking.
Days on Market for West Chester, PA
How long does it take to sell a home in West Chester, PA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 12 Days | 21 Days | +68.6% |
Summary: Homes in West Chester had an average of 21 days on market in Oct 2024, up by 68.6% compared to last year.
Breakdown of Home Sale Times
70 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in West Chester are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 83 homes were sold in West Chester; 84% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
