2022 Housing Report Released
Posted April 21, 2023
As part of the ongoing implementation of Landscapes3, the Chester County Planning Commission collects and reports data on housing prices, housing affordability, and new housing units constructed across the county each year.
CCPC's Senior Housing & Economic Planner, Libby Horwitz, recently presented the results from the 2022 Housing Report, drawing focus to some of the recent data such as the highest median home value in Chester County's history.
With the effects of the pandemic still lingering, much of the country experienced a smaller available housing stock in 2022, therefore creating a sellers' market and contributing to the higher housing prices.
In fact, Chester County's median housing price saw a record breaking high (even when adjusting for inflation) at $466,480. While the number of lower priced homes decreased by 3.3% over the past year, the number of sales in higher price ranges ($750,000+) increased. Because of these high housing costs, housing has become much less affordable in Chester County.
Easttown and Birmingham townships saw the highest median sales prices for homes in 2022, while the City of Coatesville and Parkesburg Borough saw the lowest. Additionally, the county's lower cost homes sales were largely seen in Coatesville, Phoenixville, East Goshen and Downingtown/Exton areas, with the highest sales occurring in Tredyffrin, Easttown, and Willistown. In terms of diversity of home sale prices, Tredyffrin Township took the lead for the third year in a row.
When it comes to new home sales, the county saw a 3% decrease in the number of new homes sold from 2021 to 2022, for a total of 1,125 sales. Of these sales, Phoenixville had the highest number of new units at 110.
Additionally, there were 2,537 new housing units constructed throughout Chester County in 2022. While this number is lower than 2021 (due to fewer new apartment units constructed), it's relatively higher than the number of units built from 2008 to 2020.
The information in the annual Housing Report is based on data provided by the Chester County Assessment Office.
View the findings of the report — including county data, municipal data, new housing units sales, and new housing units built.