The Long & Foster Market Minute

Focus On: Chester Housing Market June 2021

Zip Code(s): 23831 and 23836
Units Sold
Active Inventory
Median Sale Price
Days On Market
Up 13%
Vs. Year Ago
Down -50%
Vs. Year Ago
Up 16%
Vs. Year Ago
Down -65%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 111 sold this month in Chester Real Estate versus 92 last month, an increase of 21%. This month's total units sold was higher than at this time last year, an increase of 13% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 83 units or 50%. The total number of active inventory this June was 83 compared to 166 in June 2020. This month's supply remained stable as compared to last month.

Median Sale Price
Last June, the median sale price for Chester Homes was $277,025. This June, the median sale price was $320,000, an increase of 16% or $42,975 compared to last year. The current median sold price is 2% lower than in May.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
Up 19%
Vs. Year Ago
Up 17%
Vs. Year Ago
Up 2.6%
Vs. Year Ago
Down -56%
Vs. Year Ago

Months of Supply
In June, there was 0.7 months of supply available in Chester, compared to 1.7 in June 2020. That is a decrease of 56% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 129 homes newly listed for sale in Chester compared to 108 in June 2020, an increase of 19%. There were 109 current contracts pending sale this June compared to 93 a year ago. The number of current contracts is 17% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Chester was 102.9% of the average list price, which is 2.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 9, lower than the average last year, which was 26, a decrease of 65%.

The Long & Foster Market Minute Chester are defined as properties listed in zip code/s 23831 and 23836.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by CVRMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of CVRMLS or Long & Foster Real Estate, Inc.