Welcome to my December real estate market report! In this monthly series, I examine the real estate market data, school district by school district, here in Chester County. This month’s real estate market report focuses on the Avon Grove School District along the southeast boundary of Chester County. Sprawling agrarian fields reach down towards Delaware in this beautiful school district through the Brandywine Valley.
National headlines, averages, and talking points make for entertaining coverage, but often fall flat when it comes to capturing your neighborhood’s unique character. That’s where local, real-time information comes in. Even this snapshot of a school district in our county casts a wide net. All the same, this picture can help build a foundation for those more focused comparisons and conversations with real estate agents.
In this month’s market report, we start with a high-level overview of the month’s real estate market data before going into my practical advice for buyers and sellers.
Data Source
This month’s real estate market data was put together by Lauren Davis at Tri-County Suburban Realtors, pulling data from the BrightMLS. Lauren has very thorough presentations of the entire county, with everything from interactive graphs to .pdf downloads showing the most interesting market statistics from across our region.
A Look at the Market
The statistics for Avon Grove School District this month reflect the seasonality we expect for November while demonstrating how data-driven insights are only as valuable as the data they pull from. Across the board, numbers were down in Avon Grove during November, including total transactions. With fewer transactions to compare, it’s difficult to paint a picture of the market activity and home values without digging deeper into the details.
This isn’t the first time we’ve seen examples of monthly market data telling an insufficient story, and it won’t be the last time. Data analytics are helpful – to a point – but real local knowledge and expertise fill in the gaps. In markets whose transaction volume is so much lower than usual, having a skilled real estate agent on your side will go further than any algorithm’s suggestion.
With all this in mind, my advice this month will be a bit more abstract than usual. Inventory is down, transactions are down, and even DOM are down, so it’ll be ever more important to be ready to take advantage of any opportunities that pop up.
Advice for Buyers
Buyers in the Avon Grove School District should be ever vigilant in their home hunt. Transactions and inventory are both down, so buyers must be ready to jump when the right opportunity comes along. While being prepared with financing and logistics is an important preparation for any home buying experience, there’s no way to anticipate how long your active hunt may last, so be patient. That 1 in 100 home of your dreams could come to market just as your hunt begins, or you could be watching and waiting for 3 months.
The good news is that homes at all price points are coming to the market, so it’s a matter of time until a home that fits your dreams is available. Then comes the next big challenge: other buyer competition. Just because sellers are slowing down doesn’t mean buyers have stopped searching. Chances are good that you won’t be the only one watching for that home of your dreams to come to market.
All this to say: be prepared, stay vigilant, and work with a skilled REALTOR® if you’re hoping to buy a home in Avon Grove School District this winter.
Advice for Sellers
Many sellers might look at the low inventory and think that’s a sign of a strong seller’s market. While sellers do have a strong negotiating position right now, there have been so few transactions that pricing a home is more an art than a science. Given the prevalence of algorithmic pricing websites, you could be facing an uphill battle just to get what your home is actually worth.
Once again, this is where working with a skilled REALTOR® who knows the market well is your best play. While most real estate agents can help you list your home and get it ready for showings, a true local expert will be invaluable in developing a pricing, marketing, and timing plan to get you the most for your home.
Listing your house at the right price and right time may be the biggest hurdle, but it won’t be the final one. Decreased inventory means increased buyer attention – and competition. Once offers start coming in, the challenge will be cutting through the contracts to figure out the best time, terms, and price for you. That’s where your agent comes in again, and why it’s so important to work with someone skilled.
Conclusion
The Avon Grove School District embodies the agrarian culture of Chester County within easy commute range of Wilmington. As 2024 winds down, the real estate market continues to present as many challenges as opportunities. Be patient and be ready to move. The holiday season is in full swing, but real estate never takes a vacation.
Thanks for reading this month’s real estate market report! I hope you found it both interesting and informative. Do you like the interactive charts on Tri-County’s website? Please let me know! I always make time to talk, and would love to hear your opinions!
