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| As 2022 comes to a close, it's time to indulge in the festive spirit. Whether you're spending time with friends and family, strolling snow-covered streets, or celebrating in your own way, we hope you have an amazing December! This end-of-year edition features a review of Chester County's 2022 housing market, some real estate industry news, a few seasonal articles, and more trivia! |
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| Chester County 2022 Review |
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| Cumulative Days on Market |
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Homes sold very quickly in 2022. With an annual average Cumulative days on Market of 6.25, most homes in 2022 were sold in less than a week. |
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| Number of Sales vs Median Sale Price |
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With an average annual median home sale price of $465,738 and a median appreciation of 12.5% throughout the year, the quantity of homes being sold has not dramatically impacted the stability of home pricing. When looking at this graph, keep in mind that a majority of December settlements have not yet finalized. |
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| Inventory compared to Market Tipping Point |
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Conventional wisdom expects 6 months of inventory in a normal market. Greater than 6 months of inventory is considered a buyer's market. By this metric, all of 2022 has favored sellers. Once again, when looking at this graph, keep in mind that a majority of December settlements have not yet finalized. |
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Cumulative Inventory by the Numbers |
| Cumulative Sales vs Cumulative New Listings |
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Available inventory has remained consistently low throughout 2022. Low inventory is anticipated to continue into 2023. |
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| Want to know what these statistics, and more, mean for you? |
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| Global Trends Impacting Real Estate in 2023 |
| Looking ahead to the new year, the annual report from PwC highlights the top factors that will drive changes to real estate. Macro forces of today will result in changes for real estate in 2023—from the sales pace and buyer preferences to city infrastructure and investor demand. Check out the article to read about it all, and get an inside peek at the top markets to watch. |
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| Lifestyle Tips and Tricks |
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7 Best National Parks to Visit in Winter |
| Many people consider a National Park visit an essential summer trip—but don’t sleep on the same parks in the winter. Break out your winter gear and journey to these winter wonderlands. |
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How to Make Holiday Dinner Cleanup a Breeze |
| Do you ever feel like you spend more time cleaning up after a holiday meal than you do enjoying it? You’re not alone. Set yourself up for an efficient clean up and spend more time with friends and family. Try out these tips during the holiday season, and even use them for parties all year long. |
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| How to Get Your Home Ready for Winter |
| It's past time to winterize your home to keep it safe. Here are a few more tips in this video to stay cozy in your home all season. Check out my article for more winterizing tips! |
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Thanks for reading and subscribing! Ready to achieve your next real estate goal? |
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| | | What is the top liquor in Chester County, according to the PA Liquor Board? Q: What is the home record of the Phillies during playoffs? |
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Associate Broker/REALTOR® ABR, CRS, CSP, ePRO, GRI, MCNE |
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Office: 610-822-3356 Compass RE is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. |
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