“How’s the market?” is one of the most common questions we hear as real estate agents. The chart below shows the past year, ending in June, 2010. As you can see, Uwchlan township, which Liongate is a part of, has had steady sales for the past year. With the activity in March and April, as the tax credit ended, shows an increase in listings and eventually solds (see June) as sellers tried to get their home on the market and let buyers take advantage. Those under contract listings, became June’s solds as the original settlement date of June 30, 2010 approached (note: that was recently extended for settlements only to the end of September, 2010).
The days on market has remained remarkably low compared to Chester County and it could be considered a “normal” market, as the current absorption rate for Uwchlan township is only 6 months of inventory (i.e. 6 months to sell all current inventory with no new listings). Anything between 5 and 8 is generally considered a normal market. Chester County is still tilted towards a buyer’s market.
If you would like even more detailed information regarding your property, especially as it pertains to the Liongate community, feel free to contact us.
Check out the chart below: