Housing Report — New Housing Units Sales
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From 2022 to 2023 the number of new home sales decreased by 32%, and the median sale price increased by 1%.
New housing unit sales are presented from 2004, the year the Planning Commission began calculating data for new housing. Adjusting for inflation, median new sale price decreased by 2% from 2022 to 2023
| Year | Number of Sales |
Percent Change |
Median Sale Price |
Percent Change |
Median Sale Price Inflation Adjusted (2023) |
Percent Change |
|---|---|---|---|---|---|---|
| 2004 | 1,471 | N/A | $317,100 | N/A | $511,136 | N/A |
| 2005 | 1,363 | -7% | $371,600 | 17% | 579,201 | 13% |
| 2006 | 1,353 | -1% | $399,100 | 7% | 606,652 | 5% |
| 2007 | 1,151 | -15% | $426,200 | 7% | 622,442 | 3% |
| 2008 | 1,019 | -11% | $372,800 | -13% | 543,957 | -13% |
| 2009 | 668 | -34% | $308,300 | -17% | 437,927 | -19% |
| 2010 | 598 | -10% | $350,100 | 14% | 489,973 | 12% |
| 2011 | 533 | -11% | $353,400 | 1% | 480,361 | -2% |
| 2012 | 593 | 11% | $365,000 | 3% | 487,639 | 2% |
| 2013 | 716 | 21% | $376,000 | 3% | 494,902 | 1% |
| 2014 | 613 | -14% | $386,000 | 3% | 504,250 | 2% |
| 2015 | 475 | -23% | $347,450 | -10% | 450,603 | -11% |
| 2016 | 451 | -5% | $411,000 | 18% | 522,187 | 16% |
| 2017 | 720 | 60% | $432,305 | 5% | 537,910 | 3% |
| 2018 | 898 | 25% | $444,305 | 3% | 542,480 | 1% |
| 2019 | 805 | -10% | $454,936 | 2% | 543,050 | 0% |
| 2020 | 686 | -15% | $447,056 | -2% | 526,473 | -3% |
| 2021 | 1157 | 69% | $536,124 | 20% | 589,859 | 12% |
| 2022 | 1125 | -3% | $590,000 | 10% | 609,778 | 3% |
| 2023 | 782 | -32% | $596,938 | 1% | 596,938 | -2% |
Of 73 municipalities in Chester County, 19% sold more than 20 new units, 10% added 10-20, 32% added 1-10, and 40% had no new units. Spring City had the highest number of new units, with 81 new units sold in 2023.
For median sales prices of municipalities with over three new home sales, 1% were under $300,000, 1% were $300,000 to $399,999 , and 36% were over $400,000. Three municipalities had median sales prices of over one million dollars for new homes (Easttown, Tredyffrin, and West Goshen).
New home sales in 2023 decreased by 32%.
New unit home sale median prices have been trending upwards since 2008. In 2023 the median sales price for new homes increased even further to $596,938, an all time high.
Of the 1,125 new unit home sales in Chester County, 28% were sold between $250,000-$499,999. The number of new unit sales in the most affordable price range of ‹$250,000 decreased from 11 units in 2022 to 10 in 2023, remaining at 1% of total new sales.
| Price Range | 2021 Number All Sales |
2021 Percent All Sales |
2022 Number All Sales |
2022 Percent All Sales |
|---|---|---|---|---|
| Less than $250,000 | 11 | 1% | 10 | 1% |
| $250,000 - $499,999 | 331 | 29% | 217 | 28% |
| $500,000 - $749,999 | 527 | 47% | 349 | 45% |
| $750,000 - $899,999 | 144 | 13% | 118 | 15% |
| $900,000 - $1,499,999 | 94 | 8% | 68 | 9% |
| $1,500,000 and over | 18 | 2% | 20 | 3% |
| Total | 1125 | 100% | 782 | 100% |
Median sales price for municipalities with three or fewer sales of new homes in 2023 were omitted. Spring City, Sadsbury, and Honey Brook had the highest increases in the number of new housing sales. Phoenixville, West Goshen, and Upper Uwchlan had the largest decreases in number of new home sales.
Tredyffrin, Easttown, and West Whiteland all had the highest increases in median sales price for new units. Willistown, East Nottingham, and East Bradford had the largest decrease in median home sale price for new homes.
