April West Chester Borough Real Estate Market Update
After a very quiet start to the year, the West Chester housing market came roaring back in April.
Home Sales Jumped in April
A total of 14 homes sold in April, up from just 4 sales in March. That’s a huge increase and marks the strongest April for home sales in the Borough since 2018.
New Listings and Inventory Held Steady
April was also active for new listings:
14 homes were listed for sale
12 homes went under contract
12 homes remained on the market at the end of the month
Inventory stayed exactly the same as it was at the end of March, which is a good sign that buyer demand is keeping pace with new listings.
Well-Priced Homes Sold Fast
Of the 14 homes that sold:
8 homes went under contract in less than one week
7 of those homes were under contract in two days or less
All 8 sold for above asking price
The average sale price was $22,262 over asking
This continues to show that well-priced homes in desirable locations are attracting strong competition.
Homes That Sat Longer Sold Below Asking
Not every home saw bidding wars.
4 homes sold below asking price
They sold for an average of $46,175 under asking
These homes spent an average of 26 days on the market
The takeaway is simple: pricing and presentation matter. Homes that miss the mark are taking longer to sell and often require price reductions.
Average Sale Price Rebounded Sharply
The average home sale price in April was $650,715.
That represents an increase of more than $200,000 compared to March, showing just how much stronger the market was this month.
Looking Ahead to May
After a slower-than-usual first quarter, April brought the market back to life. With inventory levels holding steady and buyer activity remaining strong, May is shaping up to be another active month in the Borough.
If you're thinking about buying or selling in West Chester, this market continues to reward sellers who price correctly and buyers who are prepared to move quickly. Reach out to me below to start your journey.
