The Long & Foster Market Minute

Focus On: Chester Springs and Exton Housing Market December 2019

Zip Code(s): 19425, 19341, 19421 and 19480
Units Sold
31
Active Inventory
60
Median Sale Price
$439,900
Days On Market
53
Up
Vs. Year Ago
Down -43%
Vs. Year Ago
Up
Vs. Year Ago
Up 13%
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in December, with 31 sold this month in Chester Springs and Exton Real Estate. This month's total units sold was higher than at this time last year, an increase from December 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 46 units or 43%. The total number of active inventory this December was 60 compared to 106 in December 2018. This month's total of 60 is lower than the previous month's total supply of available inventory of 99, a decrease of 39%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last December, the median sale price for Chester Springs and Exton Homes was $335,000. This December, the median sale price was $439,900, an increase of $104,900 compared to last year. The current median sold price is lower than in November.

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


New Listings
14
Current Contracts
26
Sold Vs. List Price
97.0%
Months of Supply
1.9
Down -50%
Vs. Year Ago
Up 4%
Vs. Year Ago
Down -1.7%
Vs. Year Ago
Down -62%
Vs. Year Ago

Months of Supply
In December, there was 1.9 months of supply available in Chester Springs and Exton, compared to 5.0 in December 2018. That is a decrease of 62% 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 14 homes newly listed for sale in Chester Springs and Exton compared to 28 in December 2018, a decrease of 50%. There were 26 current contracts pending sale this December compared to 25 a year ago. The number of current contracts remained stable as compared to last December.

Sale Price to List Price Ratio
In December, the average sale price in Chester Springs and Exton was 97.0% of the average list price, which is 1.7% 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 47, an increase of 13%.

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.