The Long & Foster Market Minute

Focus On: Chester Springs and Exton Housing Market May 2018

Zip Code(s): 19425, 19341, 19421 and 19480
Units Sold
47
Active Inventory
113
Median Sale Price
$438,000
Days On Market
60
Down -2%
Vs. Year Ago
Down -20%
Vs. Year Ago
Up 6%
Vs. Year Ago
Up 28%
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 47 sold this month in Chester Springs and Exton Real Estate. This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 28 units or 20%. The total number of active inventory this May was 113 compared to 141 in May 2017. This month's total of 113 is higher than the previous month's total supply of available inventory of 103, an increase of 10%.

Median Sale Price
Last May, the median sale price for Chester Springs and Exton Homes was $413,750. This May, the median sale price was $438,000, an increase of 6% or $24,250 compared to last year. The current median sold price is 2% lower than in April.

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


New Listings
61
Current Contracts
40
Sold Vs. List Price
98.2%
Months of Supply
2.4
Down -34%
Vs. Year Ago
Down -29%
Vs. Year Ago
Down -0.8%
Vs. Year Ago
Down -18%
Vs. Year Ago

Months of Supply
In May, there was 2.4 months of supply available in Chester Springs and Exton, compared to 2.9 in May 2017. That is a decrease of 18% 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 61 homes newly listed for sale in Chester Springs and Exton compared to 92 in May 2017, a decrease of 34%. There were 40 current contracts pending sale this May compared to 56 a year ago. The number of current contracts is 29% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Chester Springs and Exton was 98.2% of the average list price, which is 0.8% lower than at this time last year.

Days on Market
This month, the average number of days on market was 60, higher than the average last year, which was 47, an increase of 28%.

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.