The Long & Foster Market Minute

Focus On: Chester Springs and Exton Housing Market August 2018

Zip Code(s): 19425, 19341, 19421 and 19480
Units Sold
47
Active Inventory
124
Median Sale Price
$430,000
Days On Market
27
Down -11%
Vs. Year Ago
Down -7%
Vs. Year Ago
No Change
Vs. Year Ago
Down -34%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in August, with 47 sold this month in Chester Springs and Exton Real Estate versus 49 last month, a decrease of 4%. This month's total units sold was lower than at this time last year, a decrease of 11% versus August 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 10 units or 7%. The total number of active inventory this August was 124 compared to 134 in August 2017. This month's total of 124 is higher than the previous month's total supply of available inventory of 121, an increase of 2%.

Median Sale Price
Last August, the median sale price for Chester Springs and Exton Homes was $431,350. This August, the median sale price was $430,000, which is similar compared to a year ago. The current median sold price is 1% lower than in July.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
52
Current Contracts
34
Sold Vs. List Price
97.5%
Months of Supply
2.6
Up 27%
Vs. Year Ago
Down -3%
Vs. Year Ago
Down -1.3%
Vs. Year Ago
Up 4%
Vs. Year Ago

Months of Supply
In August, there was 2.6 months of supply available in Chester Springs and Exton, compared to 2.5 in August 2017. That is an increase of 4% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 52 homes newly listed for sale in Chester Springs and Exton compared to 41 in August 2017, an increase of 27%. There were 34 current contracts pending sale this August compared to 35 a year ago. The number of current contracts is 3% lower than last August.

Sale Price to List Price Ratio
In August, the average sale price in Chester Springs and Exton was 97.5% of the average list price, which is 1.3% lower than at this time last year.

Days on Market
This month, the average number of days on market was 27, lower than the average last year, which was 41, a decrease of 34%.

The Long & Foster Market Minute Chester Springs and Exton are defined as properties listed in zip code/s 19425, 19341, 19421 and 19480.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by TREND and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of TREND or Long & Foster Real Estate, Inc.