Quarter one: Chester County Real Estate Market Rewind

The Greater Philadelphia suburbs real estate market in Quarter 1 has been nothing short of a rollercoaster ride. With varying effects still from the pandemic and various economic factors, the market has taken unexpected twists and turns. In particular, the demand for homes continues to increase, while the inventory remains historically low.

The beginning of the quarter had a slow start. Interest rates fluctuated, families were in visiting or out traveling for the holidays, and let's not forget the cold and the end of football season. This caused there to be less buyers out actively searching and fewer homeowners listing during this time. Right after the super bowl, however we started to see signs that we were in for another competitive spring market.

After the super bowl (that featured our very own, Philadelphia Eagles), inventory has begun to increase from the winter months, however with that there was also an increase in competition per property (if priced properly/ strategically). With this we are noticing that the number of properties that get multiple offers and the number of offers on those properties have begun to increase as well. This means that buyers are having to be more creative on their terms as far as pricing, contingencies, and settlement timelines again. This does not mean that now is a bad time to buy, it just means that who you work with matters more than ever. 

We are committed to being the local resource for all things Real Estate to our community and clients. At the Moore Maguire Real Estate Team, we actively research and work throughout Chester, Montgomery, Delaware, and Philadelphia counties to make sure we have up to date data in real time. We have created systems and guides that can ensure that our clients truly understand the process and how the current market affects them directly.

If you are thinking about buying, selling, or investing in real estate don't hesitate to reach out to the Moore Maguire Real Estate Team. With our extensive knowledge of the local market, we can help you navigate the market with confidence and find your perfect match. Contact us today to schedule a FREE, non-committal consultation and start your journey toward the home of your dreams.