The Long & Foster Market Minute

Focus On: Chester Springs and Exton Housing Market October 2018

Zip Code(s): 19425, 19341, 19421 and 19480
Units Sold
22
Active Inventory
119
Median Sale Price
$437,000
Days On Market
53
Down
Vs. Year Ago
Down -13%
Vs. Year Ago
Down -3%
Vs. Year Ago
Up 6%
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in October, with 22 sold this month in Chester Springs and Exton Real Estate. This month's total units sold was lower than at this time last year, a decrease from October 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 18 units or 13%. The total number of active inventory this October was 119 compared to 137 in October 2017. This month's total of 119 is lower than the previous month's total supply of available inventory of 124, a decrease of 4%.

Median Sale Price
Last October, the median sale price for Chester Springs and Exton Homes was $452,750. This October, the median sale price was $437,000, a decrease of 3% or $15,750 compared to last year. The current median sold price is 7% higher than in September.

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


New Listings
54
Current Contracts
31
Sold Vs. List Price
96.8%
Months of Supply
5.4
Up 38%
Vs. Year Ago
Down -9%
Vs. Year Ago
Down -2.1%
Vs. Year Ago
Up 74%
Vs. Year Ago

Months of Supply
In October, there was 5.4 months of supply available in Chester Springs and Exton, compared to 3.1 in October 2017. That is an increase of 74% 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 54 homes newly listed for sale in Chester Springs and Exton compared to 39 in October 2017, an increase of 38%. There were 31 current contracts pending sale this October compared to 34 a year ago. The number of current contracts is 9% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Chester Springs and Exton was 96.8% of the average list price, which is 2.0% lower than at this time last year.

Days on Market
This month, the average number of days on market was 53, higher than the average last year, which was 50, an increase of 6%.

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 BRIGHTMLS 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 BRIGHTMLS or Long & Foster Real Estate, Inc.