The Long & Foster Market Minute

Focus On: Chester Springs and Exton Housing Market May 2022

Zip Code(s): 19425, 19341, 19421 and 19480
Units Sold
35
Active Inventory
31
Median Sale Price
$595,000
Days On Market
11
Down
Vs. Year Ago
Down -38%
Vs. Year Ago
Up 10%
Vs. Year Ago
Up 38%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in May, with 35 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 May 2021.

Active Inventory
Versus last year, the total number of homes available this month is lower by 19 units or 38%. The total number of active inventory this May was 31 compared to 50 in May 2021. This month's total of 31 is lower than the previous month's total supply of available inventory of 32, a decrease of 3%.

Median Sale Price
Last May, the median sale price for Chester Springs and Exton Homes was $540,400. This May, the median sale price was $595,000, an increase of 10% or $54,600 compared to last year. The current median sold price is 23% higher 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
47
Current Contracts
42
Sold Vs. List Price
105.3%
Months of Supply
0.9
Down -22%
Vs. Year Ago
Down -26%
Vs. Year Ago
Up 2.8%
Vs. Year Ago
Down -22%
Vs. Year Ago

Months of Supply
In May, there was 0.9 months of supply available in Chester Springs and Exton, compared to 1.1 in May 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 47 homes newly listed for sale in Chester Springs and Exton compared to 60 in May 2021, a decrease of 22%. There were 42 current contracts pending sale this May compared to 57 a year ago. The number of current contracts is 26% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Chester Springs and Exton was 105.3% of the average list price, which is 2.8% higher than at this time last year.

Days on Market
This month, the average number of days on market was 11, higher than the average last year, which was 8, an increase of 38%.

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.