Housing Report 2020

Number of sales and median sales price in Chester County, 1990-2020

The volume of sales in 2020 increased modestly from 2019, to the highest number of sales since 2006. From 1999 to 2005, sales were at peak levels in excess of 9,000 units per year. Sales decreased after the 2008 recession, but have been rebounding and trending upwards. An increase of sales is thought to have occurred due to COVID-19 purchasing trends. This trend is expected to continue through 2021.

Year	Number of Sales	Percent Change	Median Sale Price	Percent Change	Median Sale Price Inflation Adjusted to 2019	Percent Change
2020	7,532	0.7%	$375,064	5.7%	$375,064	3.1%
2019	7,337	-1.9%	$355,000	4.4%	$363,827	2.8%
2018	7,480	5.6%	$340,000	0.9%	$353,860	-1.2%
2017	7,080	3.0%	$337,000	6.5%	$357,999	3.9%
2016	6,871	1.5%	$316,500	2.1%	$344,628	0.7%
2015	6,772	7.6%	$310,000	-1.6%	$342,185	-1.5%
2014	6,293	-9.7%	$315,000	6.1%	$347,393	4.4%
2013	6,967	14.8%	$297,000	5.1%	$332,714	3.5%
2012	6,067	22.5%	$282,500	-2.6%	$321,518	-5.4%
2011	4,952	-4.5%	$290,000	-1.7%	$339,708	-3.3%
2010	5,188	-4.2%	$295,000	6.6%	$351,204	3.9%
2009	5,413	-8.4%	$276,700	-7.8%	$338,067	-7.8%
2008	5,911	-19.4%	$300,000	-4.0%	$366,644	-7.9%
2007	7,335	-12.0%	$312,500	3.2%	$398,269	1.1%
2006	8,336	-10.7%	$302,800	2.6%	$393,916	-1.3%
2005	9,333	-1.7%	$295,000	11.3%	$399,064	8.1%
2004	9,492	-7.3%	$265,000	8.2%	$369,127	6.1%
2003	10,240	11.2%	$245,000	8.9%	$347,842	6.2%
2002	9,212	1.4%	$224,900	12.5%	$327,598	11.2%
2001	9,083	-1.7%	$200,000	6.4%	$294,656	2.6%
2000	9,241	-0.5%	$188,000	5.0%	$287,314	2.2%
1999	9,290	7.9%	$179,000	5.3%	$281,052	3.6%
1998	8,613	18.7%	$170,000	0.6%	$271,380	-1.0%
1997	7,257	19.1%	$169,000	8.2%	$274,023	5.0%
1996	6,095	6.9%	$156,250	0.8%	$261,062	-1.9%
1995	5,702	-8.9%	$155,000	0.0%	$266,038	-2.7%
1994	6,256	-3.4%	$155,000	2.6%	$273,499	0.1%
1993	6,475	3.0%	$151,000	0.7%	$273,167	-2.5%
1992	6,289	33.1%	$150,000	2.7%	$280,200	0.1%
1991	4,725	-7.5%	$146,000	-2.0%	$279,820	-7.3%
1990	5,109	-15.6%	$149,000	2.8%	$293,167	N/A

Number of sales in Chester County, 1990-2020

There were 7,532 total sales in 2020. Home sales peaked in 2003 at 10,240, before declining to a low of 4,952 sales in 2011. Sales have been generally increasing since the 2011 low. The number of 2020 sales was a slight increase (0.7%) from 2019.

Median sale price in Chester County, Raw and Inflation Adjusted 1990-2020

Both raw and inflation adjusted median sales prices saw significant increases during the early 2000s, then decreased from 2008 to 2009, likely due to the 2008 recession. The raw median home sale price continued to increase from 2010 to 2020.

The inflation adjusted median sales price had been remaining steady from 2010 to 2019, but increased in 2020. Inflation adjusted median home sale prices since 1990 have only been higher than 2020 in 2005 and 2007.

Sales and percent of total sales in Chester County, 2019 & 2020

Home sales under $250,000, the most affordable range, continued to decrease in 2020. In 2020, the $250,000 to $499,999 range remained the range with the largest number of home sales at 54.2% of Chester County homes sales. The number of homes sales over $750,000 increased to 7.1% in 2020, up from 5.8% in 2019.

Home Sale Price Range	2019 All Sales	2019 Percent of All Sales	2020 All Sales	2020 Percent of All Sales
Less than $250,000	1,697	23.1%	1,395	18.5%
$250,000 - $499,999	3,880	52.9%	4,085	54.2%
$500,000 - $749,999	1,335	18.2%	1,517	20.1%
$750,000 - $899,999	207	2.8%	249	3.3%
$900,000 - $1,499,999	197	2.7%	245	3.3%
$1,500,000 and over	21	0.3%	41	0.5%
Total	7,337	100.0%	7,532	100.0%

Share of total home sales in Chester County 2019 & 2020

The share of home sales increased in higher price ranges from 2019 to 2020. The $250,000-$499,999 range increased in share by 1.4%, $500,000-$749,999 increased by 1.9%. The most affordable, less than $250,000, range decreased in share by 4.6%.