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This week new statistics were released for Chester, Delaware and New Castle counties.  These stats measure # of sales, median sales price, days on market and sales price vs. original asking price from January 1, 2008 thru the end of August 2008 compared to the same time period last year-2007.  After reading below, you will see that we are fortunate in this area to not have a dramatic decrease or slide in our activity levels or pricing.  Chester County has performed the best when compared to Delaware and New Castle Counties.

Chester County

# Of Sales-                                     -20%

Median Sales Price-                         -1.6%

Days on Market-                              + 7 Days

Sales Price vs. Orig. Price-              -1.7% (94.22%)

Delaware County

# of Sales-                                        -25%

Median Sales Price-                           -2.1%

Days on Market-                                + 10 Days

Sales Price vs. Orig Price-                  -1.51% (93.79%)

New Castle County

# of Sales-                                        -30%

Median Sales Price-                           -1.7%

Days on Market                                  + 13 Days

Sales Price vs. Orig Price-                  -3.49% (85.39%)

So it makes sense to me that in Chester County, sales are 20% down, which means 1 out of 5 buyers that bought last year are not this year.  This is reflective of the fact that mortgages are harder to qualify for and the point is that 4 out of 5 buyers are still in the marketplace this year compared to last year and that is a very good thing.  It is wise to know these numbers and I can break these down by a specific area for my Buyers or Sellers that can be used in negotiating.  Please contact me for further details.