The Long & Foster Market Minute

Focus On: Chester Springs and Exton Housing Market June 2019

Zip Code(s): 19425, 19341, 19421 and 19480
Units Sold
44
Active Inventory
100
Median Sale Price
$363,000
Days On Market
58
No Change
Vs. Year Ago
Down -10%
Vs. Year Ago
Down -13%
Vs. Year Ago
Up 87%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 44 sold this month in Chester Springs and Exton Real Estate, a decrease of 4%. 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 lower by 11 units or 10%. The total number of active inventory this June was 100 compared to 111 in June 2018. This month's total of 100 is lower than the previous month's total supply of available inventory of 110, a decrease of 9%.

Median Sale Price
Last June, the median sale price for Chester Springs and Exton Homes was $417,500. This June, the median sale price was $363,000, a decrease of 13% or $54,500 compared to last year. The current median sold price is 18% lower than in May.

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


New Listings
63
Current Contracts
56
Sold Vs. List Price
97.8%
Months of Supply
2.3
Down -10%
Vs. Year Ago
Up 4%
Vs. Year Ago
Down -1%
Vs. Year Ago
Down -10%
Vs. Year Ago

Months of Supply
In June, there was 2.3 months of supply available in Chester Springs and Exton, compared to 2.5 in June 2018. That is a decrease of 10% 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 63 homes newly listed for sale in Chester Springs and Exton compared to 70 in June 2018, a decrease of 10%. There were 56 current contracts pending sale this June compared to 54 a year ago. The number of current contracts is 4% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Chester Springs and Exton was 97.8% of the average list price, which is 1.0% lower than at this time last year.

Days on Market
This month, the average number of days on market was 58, higher than the average last year, which was 31, an increase of 87%.

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.