Over the last three months, closing out the end of 2010 sales in Chesterbrook have been slower than normal. 9 Townhomes sold and 10 apartments sold over this period.
Interestingly, the price per sq foot for both came to $142, however the townhomes gained a little more in ratio to their asking prices at 96% of asking price whilst apartments reached 93%. This implies there is a little more interest in the townhomes than apartments.
Garages in the townhomes did not affect price significantly, which in the past those with a garage obtained higher prices. Currently there are 12 townhomes on the market, of these 1 is under offer and 7 more are pending. There are 11 apartments for sale, with 4 of these under agreement and 3 more pending as well. This implies that the market seems to have picked up in the last monthand we have noticed more interest among buyers to get off the fence and take action with the concern that interest rates might rise in the near future.
Days on market for the townhomes was an average of 88 although this was a little skewed by two homes that had been on the market a long time, so if priced right and prepared for sale the actual days on market could be lower. For apartments it was an average of 103 days to market a property.
If you need help finding a home in Chesterbrook, or in getting your home sold, feel free to contact us or go to www.homesinchesterbrook.com for more information.
If you are buying or selling on or around Tredyffrin Easttown or along the Main Line we can help you, contact us or connect
Feel free to subscribe to our blog to stay up to date with our latest posts and information on the Tredyffrin Easttown and Main Line Real Estate Market.