The real estate market in the 23831 and 23836 Zip Codes has dipped a little from this time last year, but only by about 1 percent. Seventy-five homes were sold in June, while inventory is down about 13 percent from a year ago. That means homes are selling, leaving fewer on the market.
Sales prices are up, which is good for all who are selling their homes. The median sale price, half above and half below, has jumped to about $239,000, which is an increase from last year of about 4 percent.
As school begins, many homeowners have put their houses on the market. Up 36 percent since last year, new listings have increased from about 85 in June 2015 to 113 new listings last month.
Contracts are up as well, with a 49 percent gain since last year.
The good news for sellers in the real estate market is that the supply of houses for sale has decreased about 12 percent since this time last year. Less supply means there are better chances for those who have their house currently on the market.
In June, the average sale price in Chester was 99.0 percent of the average list price, which is similar to a year ago. Most buyers did not have to haggle much last month.
Another reason for sellers to jump for joy, although it is just the opposite for buyers, is the amount of time homes for sale are on the market. Currently a house for sale is on the market for about 40 days, which takes the worry off the seller and causes the buyer to work fast.