The Long & Foster Market Minute

Focus On: Chester Springs and Exton Housing Market August 2022

Zip Code(s): 19425, 19341, 19421 and 19480
Units Sold
52
Active Inventory
32
Median Sale Price
$605,000
Days On Market
12
Down -21%
Vs. Year Ago
Down -38%
Vs. Year Ago
Up 15%
Vs. Year Ago
Down -25%
Vs. Year Ago

Units Sold
There was an increase in total units sold in August, with 52 sold this month in Chester Springs and Exton Real Estate versus 47 last month, an increase of 11%. This month's total units sold was lower than at this time last year, a decrease of 21% versus August 2021.

Active Inventory
Versus last year, the total number of homes available this month is lower by 20 units or 38%. The total number of active inventory this August was 32 compared to 52 in August 2021. This month's total of 32 is lower than the previous month's total supply of available inventory of 40, a decrease of 20%.

Median Sale Price
Last August, the median sale price for Chester Springs and Exton Homes was $525,000. This August, the median sale price was $605,000, an increase of 15% or $80,000 compared to last year. The current median sold price is 2% lower than in July.

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


New Listings
32
Current Contracts
29
Sold Vs. List Price
101.3%
Months of Supply
0.6
Down -32%
Vs. Year Ago
Down -28%
Vs. Year Ago
Down -0.9%
Vs. Year Ago
Down -22%
Vs. Year Ago

Months of Supply
In August, there was 0.6 months of supply available in Chester Springs and Exton, compared to 0.8 in August 2021. That is a decrease of 22% 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 32 homes newly listed for sale in Chester Springs and Exton compared to 47 in August 2021, a decrease of 32%. There were 29 current contracts pending sale this August compared to 40 a year ago. The number of current contracts remained stable as compared to last August.

Sale Price to List Price Ratio
In August, the average sale price in Chester Springs and Exton was 101.3% of the average list price, which is 0.9% lower than at this time last year.

Days on Market
This month, the average number of days on market was 12, lower than the average last year, which was 16, a decrease of 25%.

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.