Welcome to my January real estate market report! In this monthly series, I examine real estate market data, school district by school district, here in Chester County. This month’s real estate market report focuses on the Owen J. Roberts School District, the northern-most school district in Chester County.
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.
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
When we look at the statistics for the Owen J. Roberts School District this month, we see a story of a recovering market. Compared to last year, there were more listings leading to more sales at overall higher prices. Even with more sales than the year before, inventory was up at the end of the month. All good signs of the market improving.
An even better sign of recovery and rebalancing, rather than a jump in the market, is that December of this year saw less activity than November. Seeing the expected seasonal cooling of the market with improvement compared to the previous year lets us know the market isn’t rebounding wildly, but is instead working its way back to balance.
Advice for Buyers
Buyers in the Owen J. Roberts School District should keep in mind that the market is rebalancing. You’ve got more negotiating power than last year and the year before, but the market is still firmly in the sellers’ favor. While you shouldn’t get high and mighty now that you can afford to take a breath between seeing a property and getting your offer in, you do have that breath now.
Inventory still isn’t great - the market is recovering, after all. You still want to be as ready to submit that offer as possible before you see the property. But stay your ground when it comes to following the process. We’re not out of the woods entirely, but the days of waiving all contingencies just to be considered are waning.
This time of the year, you should keep in mind scheduling while house hunting. Unlike the summer months, we don’t have a lot of daylight in the evenings. Buying a home is one of the largest financial decisions of your life; I always advise against making such a big choice in the dark. So, if you’re serious about finding your next home now, prepare to take time out of your day to go see properties.
Opportunities are popping up everywhere, will you be ready to knock? Having a plan and working with your trusted REALTOR® is still the best advice I can give to any buyer serious about finding their place in the world.
Navigating real estate can be daunting, but no one has to do it alone. If someone in your circle is buying a home, connecting them with an expert you trust like me can make all the difference. I’d love the opportunity to help your friends and family make confident, informed decisions about their next steps.
Advice for Sellers
Sellers have their own set of concerns in this recovering market. With recovering inventory, it’s easier to figure out how to price your home, but that also means buyers have more ammunition to negotiate with. The increased inventory also brings more motivated buyers to the market, but that means more competition. Some sellers who are in less of a rush may try experimenting with pricing, only to be overlooked for more competitive options.
In the Owen J. Roberts School District, there’s great opportunities for sellers who position their homes well. Each home has its own charm, quirks, and unique characteristics that don’t compare evenly with any other property. Figuring out how best to market and price your home is an involved collaboration between you and your agent. Working with a skilled real estate agent who knows the market well is your best bet.
As your real estate agent, I use a 3-phased marketing strategy that draws from proven tactics used by professional real estate developers, homebuilders, and luxury marketers. Similar to how Hollywood launches multiple trailers to build anticipation for a movie premiere, the Compass 3-Phased Marketing Strategy allows us to launch your listing multiple times to build similar excitement and demand. This pre-marketing approach extends your marketing runway, helping ensure your home enters the public market with maximum demand and a refined pricing and positioning strategy — setting the stage for the best possible sale outcome.
Conclusion
The Owen J. Roberts School District showed us a textbook example of a recovering real estate market with this month’s market report. Numbers are up compared to the year before, and the seasonal cooldown arrived on schedule. Inventory is climbing back up to a healthy point, prices continue to climb, and the spring market hasn’t even begun. What a window of opportunity for anyone who’s ready!
Thanks for reading this month’s real estate market report! I hope you found it both interesting and informative. Do you look at the other school districts’ data each month on the Tri-County website? Please let me know! I always make time to talk, and would love to hear your opinions!
