The Long & Foster Market Minute

Focus On: Chester Springs and Exton Housing Market February 2019

Zip Code(s): 19425, 19341, 19421 and 19480
Units Sold
21
Active Inventory
92
Median Sale Price
$485,000
Days On Market
91
No Change
Vs. Year Ago
Up 5%
Vs. Year Ago
Up
Vs. Year Ago
Up
Vs. Year Ago

Units Sold
There was an increase in total units sold in February, with 21 sold this month in Chester Springs and Exton Real Estate, an increase of 11%. This month's total units sold is similar compared to a year ago.

Active Inventory
Versus last year, the total number of homes available this month is higher by 4 units or 5%. The total number of active inventory this February was 92 compared to 88 in February 2018. This month's total of 92 is lower than the previous month's total supply of available inventory of 104, a decrease of 12%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last February, the median sale price for Chester Springs and Exton Homes was $399,900. This February, the median sale price was $485,000, an increase of $85,100 compared to last year. The current median sold price is higher than in January.

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


New Listings
47
Current Contracts
39
Sold Vs. List Price
90.8%
Months of Supply
4.4
Up 12%
Vs. Year Ago
Up 22%
Vs. Year Ago
Down
Vs. Year Ago
Up 5%
Vs. Year Ago

Months of Supply
In February, there was 4.4 months of supply available in Chester Springs and Exton, compared to 4.2 in February 2018. That is an increase of 5% 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 47 homes newly listed for sale in Chester Springs and Exton compared to 42 in February 2018, an increase of 12%. There were 39 current contracts pending sale this February compared to 32 a year ago. The number of current contracts is 22% higher than last February.

Sale Price to List Price Ratio
In February, the average sale price in Chester Springs and Exton was 90.8% of the average list price, which is lower than at this time last year.

Days on Market
This month, the average number of days on market was 91, higher than the average last year, which was 53. 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.