Tredyffrin/Easttown School District Real Estate Market Report

Welcome to this month’s school district housing market report! I’m taking a look at the Tredyffrin/Easttown School District, focused around January’s numbers. Will we see a strong start for 2024, or is another year buried under interest rates forecast by the data?

For a look at how different school districts around the county performed in 2023, check out my previous school district market reports. Likewise, please head over to my Glossary of Terms for a breakdown of the various industry terms used in my market reports.

Join me as I explore one of the barometers used to forecast real estate activity!

Statistics

Above, we can see a month-over-month comparison of real estate transactions in the T/E School District. It focuses on a time period traditionally considered slow, December and January. We can see that December was slow, as expected, and that the market started taking off in January. The average sale price remained steady, with the increase in volume sold mirroring the increase in units sold. Likewise, the increase in Units Listed mirrors that of the increase in DOM and MSI.

This table shows a year-over-year comparison for T/E School District, focused on the month of January. Compared to last year, less homes sold at a higher average price, a trend we’ve seen across the county. Coupled with higher prices, the increase in listings shows us that more homeowners are confident in the market this January than they were last year.

What Do These Numbers Mean for Me?

An overview like this, focused though it is on a single school district over a single month of activity, can be useful in a lot of ways. For anyone living in the school district, an overview like this can be a quick way to get an idea of what properties in your area are selling for. The 18% increase in average sale price year-over-year, for example, could be a reminder to homeowners that they may require additional insurance coverage. Likewise, a look at the average sale price provides a “horseshoes and hand grenades” accurate insight into what you could get for your home in that area.

Looking at sales pace and inventory, we can get an equally (in)accurate idea of how long a home sale process could take. For example, we see the average days on market for home sales in January 2024 was 41 days. While this is still lightning-fast when we look at the data for the past 20 years, that’s higher than we’ve seen in months. Being fully prepared before you enter the market is still very important, though you may finally have breathing room in negotiations.

Conclusion

For the first time in a few months, we’re seeing historically predictable patterns in our monthly market report. January started strong in the Tredyffrin/Easttown School District with more real estate inventory than we’ve seen, selling at continuingly higher prices. Regardless of predictions of mortgage rate changes, the market is moving and the proof is in the pudding that we’re already facing a new reality.

Is this a sign of a return to the type of real estate market projected on idealistic graphs, or is this a reprieve between waves of change? Regardless, it’s clear that those who aren’t waiting around to find out are making the moves they want and profiting from the situation.

Thank you so much for reading to the end! I hope this has been informative and interesting. If you know anyone who might be interested in this, please share my article! As a professional agent, I use this data, plus so much more, to help you achieve your real estate dreams. If you want to dive deeper into my market report or better understand your property's position, let's chat!

*All data ©BrightMLS - Information deemed reliable but not guaranteed.