FOR IMMEDIATE RELEASE February 24, 2006
Chester County Housing Prices Jumped 7.5 Percent in the Fourth
Quarter of 2005
The county also saw a 10.9 percent decrease in the number of
residential homes sold
DEVON, PA - Chester County median home prices jumped 7.5 percent
to $295,500 in the fourth quarter of 2005, according to
Prudential Fox & Roach REALTORS HomExpert Market Report
©. The median sale price of homes in the fourth quarter of 2004
was $275,000.
In the fourth quarter of 2005, the county saw 1,595 homes sold,
a 10.9 percent decrease, compared to 1,791 homes sold in 2004.
The average number of days a home remained on the market
increased from 32 days in the fourth quarter of 2004 to 35 days
in the fourth quarter of 2005.
The median price of new listings of homes in Chester County also
increased in the fourth quarter by 3.3 percent to $329,950 in
2005 from $319,425 in 2004, according to the HomExpert Market
Report.
Chester County averaged 3,362 homes per month available for sale
in the fourth quarter of 2005, an increase of 13.6 percent from
2,960 homes per month during the same time in 2004.
Other fourth quarter HomExpert Market Report© findings:
- Chester County led with the highest median sale price in the
five-county region at $295,500, followed by Bucks County
($287,658), Montgomery County ($265,000), Delaware County
($198,500) and Philadelphia County ($131,000).
- Philadelphia County led the five-county region in median price
increase with a jump of 19.1 percent. Bucks County posted an
increase of 10.6 percent followed by Delaware County at 9.5
percent, Montgomery County at 8.2 percent and Chester County at
7.5 percent.
- Philadelphia County sold 4,564 homes in the fourth quarter of
2005, a decrease of 6.5 percent. Montgomery County sold 2,767
homes, a decrease of 2.2 percent, Delaware County sold 1,936
homes a decrease of 5.8 percent, Bucks County sold 1,785 a
decrease of 8.7 percent, and Chester County sold 1,595, a
decrease of 10.9 percent.
About Prudential Fox and Roach REALTORS Prudential Fox and
Roach, REALTORS®, the nation's fourth largest provider of home
services, is an independently owned and operated member of the
Prudential Real Estate Affiliate, Inc. and the largest
Prudential affiliate in the country. As the Tri-State area's
real estate leader, the company has more than 64 sales locations
and 3,700 associates. Through its affiliate, the Trident Group,
the company provides one-stop shopping and facilitated services
to its clients including mortgage financing and title, property
and casualty insurance.
About HomExpert The 2006 HomExpert Market Report is a product
of the Prudential Fox & Roach Realtors' Research Division.
Findings were compiled using the company's exclusive HomExpert
service, which analyzes TreND Multiple Listing Service (MLS)
data and provides up-to-the-minute statistics. HomExpert offers
exclusive analysis of real estate activity regionally, by
county, MLS area or zip code across the Prudential Fox & Roach
service area.
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