The Long & Foster Market Minute

Focus On: Chester Springs and Exton Housing Market October 2021

Zip Code(s): 19425, 19341, 19421 and 19480
Units Sold
33
Active Inventory
44
Median Sale Price
$586,000
Days On Market
13
Down
Vs. Year Ago
Down -30%
Vs. Year Ago
Up 16%
Vs. Year Ago
Down
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in October, with 33 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 October 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 19 units or 30%. The total number of active inventory this October was 44 compared to 63 in October 2020. This month's total of 44 is lower than the previous month's total supply of available inventory of 57, a decrease of 23%.

Median Sale Price
Last October, the median sale price for Chester Springs and Exton Homes was $506,750. This October, the median sale price was $586,000, an increase of 16% or $79,250 compared to last year. The current median sold price is 8% higher than in September.

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


New Listings
34
Current Contracts
40
Sold Vs. List Price
101.1%
Months of Supply
1.3
Down -48%
Vs. Year Ago
Down -18%
Vs. Year Ago
Up 1.9%
Vs. Year Ago
Up 22%
Vs. Year Ago

Months of Supply
In October, there was 1.3 months of supply available in Chester Springs and Exton, compared to 1.1 in October 2020. That is an increase of 23% 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 34 homes newly listed for sale in Chester Springs and Exton compared to 66 in October 2020, a decrease of 48%. There were 40 current contracts pending sale this October compared to 49 a year ago. The number of current contracts is 18% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Chester Springs and Exton was 101.1% of the average list price, which is 1.9% higher than at this time last year.

Days on Market
This month, the average number of days on market was 13, lower than the average last year, which was 47. This decrease 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.