The Long & Foster Market Minute

Focus On: Chester Springs and Exton Housing Market December 2020

Zip Code(s): 19425, 19341, 19421 and 19480
Units Sold
43
Active Inventory
33
Median Sale Price
$470,000
Days On Market
16
Up 34%
Vs. Year Ago
Down -52%
Vs. Year Ago
Up 7%
Vs. Year Ago
Down -71%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in December, with 43 sold this month in Chester Springs and Exton Real Estate versus 48 last month, a decrease of 10%. This month's total units sold was higher than at this time last year, an increase of 34% versus December 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 36 units or 52%. The total number of active inventory this December was 33 compared to 69 in December 2019. This month's total of 33 is lower than the previous month's total supply of available inventory of 50, a decrease of 34%.

Median Sale Price
Last December, the median sale price for Chester Springs and Exton Homes was $437,450. This December, the median sale price was $470,000, an increase of 7% or $32,550 compared to last year. The current median sold price is 4% higher 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
28
Current Contracts
35
Sold Vs. List Price
100.7%
Months of Supply
0.8
Up 100%
Vs. Year Ago
Up 46%
Vs. Year Ago
Up 3.5%
Vs. Year Ago
Down -64%
Vs. Year Ago

Months of Supply
In December, there was 0.8 months of supply available in Chester Springs and Exton, compared to 2.2 in December 2019. That is a decrease of 64% 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 28 homes newly listed for sale in Chester Springs and Exton compared to 14 in December 2019, an increase of 100%. There were 35 current contracts pending sale this December compared to 24 a year ago. The number of current contracts is 46% higher than last December.

Sale Price to List Price Ratio
In December, the average sale price in Chester Springs and Exton was 100.7% of the average list price, which is 3.4% higher than at this time last year.

Days on Market
This month, the average number of days on market was 16, lower than the average last year, which was 56, a decrease of 71%.

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.