The Long & Foster Market Minute

Focus On: Chester Springs and Exton Housing Market April 2019

Zip Code(s): 19425, 19341, 19421 and 19480
Units Sold
28
Active Inventory
102
Median Sale Price
$410,000
Days On Market
61
Up 33%
Vs. Year Ago
Down -6%
Vs. Year Ago
Down -8%
Vs. Year Ago
Up
Vs. Year Ago

Units Sold
There was a decrease in total units sold in April, with 28 sold this month in Chester Springs and Exton Real Estate versus 38 last month, a decrease of 26%. This month's total units sold was higher than at this time last year, an increase of 33% versus April 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 7 units or 6%. The total number of active inventory this April was 102 compared to 109 in April 2018. This month's total of 102 is higher than the previous month's total supply of available inventory of 101, an increase of 1%.

Median Sale Price
Last April, the median sale price for Chester Springs and Exton Homes was $445,000. This April, the median sale price was $410,000, a decrease of 8% or $35,000 compared to last year. The current median sold price is 7% higher than in March.

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


New Listings
70
Current Contracts
52
Sold Vs. List Price
98.3%
Months of Supply
3.6
Up 30%
Vs. Year Ago
Up 8%
Vs. Year Ago
Up 1.8%
Vs. Year Ago
Down -30%
Vs. Year Ago

Months of Supply
In April, there was 3.6 months of supply available in Chester Springs and Exton, compared to 5.2 in April 2018. That is a decrease of 30% 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 70 homes newly listed for sale in Chester Springs and Exton compared to 54 in April 2018, an increase of 30%. There were 52 current contracts pending sale this April compared to 48 a year ago. The number of current contracts is 8% higher than last April.

Sale Price to List Price Ratio
In April, the average sale price in Chester Springs and Exton was 98.3% of the average list price, which is 1.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 61, higher than the average last year, which was 30. This increase was impacted by the limited number of sales.

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.