Housing Report — County Data
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The volume of sales in 2021 increased significantly from 2020, to the highest number of sales since 2005. The 2021 sales volume of 9,049 marks a return to the peaks seen from 1999 to 2005, when sales were in excess of 9,000 units per year. Sales decreased post the 2008 recession, but have since rebounded and are continuing to trend upwards. An increase of sales is thought to have occurred due to buyers desiring increased space due to COVID-19 in both 2020 and 2021.
| Year | Number of Sales |
Percent Change |
Median Sale Price |
Percent Change |
Median Sale Price Inflation Adjusted to 2020 |
Percent Change |
|---|---|---|---|---|---|---|
| 2021 | 9,049 | 21.0% | $420,000 | 18.3% | $420,000 | 9.0% |
| 2020 | 7,532 | 0.7% | $375,064 | 5.7% | $401,455 | 3.1% |
| 2019 | 7,337 | -1.9% | $355,000 | 4.4% | $385,155 | 2.1% |
| 2018 | 7,480 | 5.6% | $340,000 | 0.9% | $377,310 | -1.0% |
| 2017 | 7,080 | 3.0% | $337,000 | 6.5% | $381,124 | 4.3% |
| 2016 | 6,871 | 1.5% | $316,500 | 2.1% | $365,489 | 0.0% |
| 2015 | 6,772 | 7.6% | $310,000 | -1.6% | $365,410 | -2.3% |
| 2014 | 6,293 | -9.7% | $315,000 | 6.1% | $374,013 | 5.3% |
| 2013 | 6,967 | 14.8% | $297,000 | 5.1% | $355,308 | 3.6% |
| 2012 | 6,067 | 22.5% | $282,500 | -2.6% | $343,037 | -4.3% |
| 2011 | 4,952 | -4.5% | $290,000 | -1.7% | $358,275 | -4.5% |
| 2010 | 5,188 | -4.2% | $295,000 | 6.6% | $375,249 | 5.0% |
| 2009 | 5,413 | -8.4% | $276,700 | -7.8% | $357,235 | -10.2% |
| 2008 | 5,911 | -19.4% | $300,000 | -4.0% | $397,857 | -4.1% |
| 2007 | 7,335 | -12.0% | $312,500 | 3.2% | $414,813 | -0.8% |
| 2006 | 8,336 | -10.7% | $302,800 | 2.6% | $418,341 | 0.1% |
| 2005 | 9,333 | -1.7% | $295,000 | 11.3% | $417,920 | 7.6% |
| 2004 | 9,492 | -7.3% | $265,000 | 8.2% | $388,242 | 4.8% |
| 2003 | 10,240 | 11.2% | $245,000 | 8.9% | $370,627 | 6.9% |
| 2002 | 9,212 | 1.4% | $224,900 | 12.5% | $346,615 | 9.8% |
| 2001 | 9,083 | -1.7% | $200,000 | 6.4% | $315,565 | 4.8% |
| 2000 | 9,241 | -0.5% | $188,000 | 5.0% | $301,234 | 1.6% |
| 1999 | 9,290 | 7.9% | $179,000 | 5.3% | $296,527 | 2.5% |
| 1998 | 8,613 | 18.7% | $170,000 | 0.6% | $289,178 | -1.0% |
| 1997 | 7,257 | 19.1% | $169,000 | 8.2% | $292,111 | 6.3% |
| 1996 | 6,095 | 6.9% | $156,250 | 0.8% | $274,671 | -2.4% |
| 1995 | 5,702 | -8.9% | $155,000 | 0.0% | $281,526 | -2.5% |
| 1994 | 6,256 | -3.4% | $155,000 | 2.6% | $288,673 | -0.0% |
| 1993 | 6,475 | 3.0% | $151,000 | 0.7% | $288,746 | -2.0% |
| 1992 | 6,289 | 33.1% | $150,000 | 2.7% | $294,717 | -0.2% |
| 1991 | 4,725 | -7.5% | $146,000 | -2.0% | $295,178 | -4.9% |
| 1990 | 5,109 | -15.6% | $149,000 | 2.8% | $293,167 | N/A |
There were 9,049 total sales in 2021. Home sales peaked in 2003 at 10,240, before declining to a low of 4,952 sales in 2011. Sales have been generally increasing since the 2011 low. The number of 2021 sales was a significant increase (21%) from 2020.
Both raw and inflation adjusted median sales prices saw significant increases during the early 2000s, then decreased from 2008 to 2009, likely due to the 2008 recession. The raw median home sale price continued to increase from 2010 to 2021.
The inflation adjusted median sales price had been remaining steady from 2010 to 2019, but increased in 2020 and again in 2021. The 2021 median home sale price, both raw and inflation adjusted to 2022 dollars, was the highest it has ever been 30 years.
Home sales under $250,000, the most affordable range, continued to decrease in 2021, for the third year in a row. In 2021, the $250,000-$499,999 range remained the range with the largest number of home sales at 48.9% of Chester County homes sales. The number of homes sales over $750,000 increased to 10.8% in 2021, up from 7.1% in 2020.
| Home Sale Price Range | 2020 All Sales | 2020 Percent of All Sales | 2021 All Sales | 2021 Percent of All Sales |
|---|---|---|---|---|
| Less than $250,000 | 1,395 | 18.5% | 1,347 | 14.9% |
| $250,000 - $499,999 | 4,085 | 54.2% | 4,422 | 48.9% |
| $500,000 - $749,999 | 1,517 | 20.1% | 2,300 | 25.4% |
| $750,000 - $899,999 | 207 | 2.8% | 502 | 5.5% |
| $900,000 - $1,499,999 | 245 | 3.3% | 405 | 4.5% |
| $1,500,000 and over | 41 | 0.5% | 73 | 0.8% |
| Total | 7,532 | 100.0% | 9,049 | 100.0% |
The share of home sales increased in higher price ranges from 2020 to 2021. The $250,000-$499,999 range decreased in share by 5.4%, $500,000-$749,999 increased by 5.3%. The most affordable, less than $250,000 range, decreased in share by 3.6%.
