The Long & Foster Market Minute

Focus On: Chester Springs and Exton Housing Market February 2023

Zip Code(s): 19425, 19341, 19421 and 19480
Units Sold
Active Inventory
Median Sale Price
Days On Market
Vs. Year Ago
Down -20%
Vs. Year Ago
Up 10%
Vs. Year Ago
Down -39%
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in February, with 11 sold this month in Chester Springs and Exton Real Estate. This month's total units sold was lower than at this time last year, a decrease from February 2022.

Active Inventory
Versus last year, the total number of homes available this month is lower by 5 units or 20%. The total number of active inventory this February was 20 compared to 25 in February 2022. This month's total of 20 is lower than the previous month's total supply of available inventory of 24, a decrease of 17%.

Median Sale Price
Last February, the median sale price for Chester Springs and Exton Homes was $580,940. This February, the median sale price was $639,000, an increase of 10% or $58,060 compared to last year. The current median sold price is 3% lower 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
Current Contracts
Sold Vs. List Price
Months of Supply
Up 14%
Vs. Year Ago
Up 11%
Vs. Year Ago
Down -4.1%
Vs. Year Ago
Up 60%
Vs. Year Ago

Months of Supply
In February, there was 1.8 months of supply available in Chester Springs and Exton, compared to 1.1 in February 2022. That is an increase of 60% 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 24 homes newly listed for sale in Chester Springs and Exton compared to 21 in February 2022, an increase of 14%. There were 21 current contracts pending sale this February compared to 19 a year ago. The number of current contracts is 11% higher than last February.

Sale Price to List Price Ratio
In February, the average sale price in Chester Springs and Exton was 97.4% of the average list price, which is 4.2% lower than at this time last year.

Days on Market
This month, the average number of days on market was 17, lower than the average last year, which was 28, a decrease of 39%.

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.