The Long & Foster Market Minute

Focus On: Chester Springs and Exton Housing Market September 2019

Zip Code(s): 19425, 19341, 19421 and 19480
Units Sold
37
Active Inventory
102
Median Sale Price
$412,000
Days On Market
61
Down -14%
Vs. Year Ago
Down -22%
Vs. Year Ago
Up 3%
Vs. Year Ago
Up 5%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 37 sold this month in Chester Springs and Exton Real Estate versus 49 last month, a decrease of 24%. This month's total units sold was lower than at this time last year, a decrease of 14% versus September 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 28 units or 22%. The total number of active inventory this September was 102 compared to 130 in September 2018. This month's total of 102 is lower than the previous month's total supply of available inventory of 110, a decrease of 7%.

Median Sale Price
Last September, the median sale price for Chester Springs and Exton Homes was $400,000. This September, the median sale price was $412,000, an increase of 3% or $12,000 compared to last year. The current median sold price is 4% higher than in August.

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


New Listings
57
Current Contracts
40
Sold Vs. List Price
96.4%
Months of Supply
2.8
Up 27%
Vs. Year Ago
Up 54%
Vs. Year Ago
No Change
Vs. Year Ago
Down -9%
Vs. Year Ago

Months of Supply
In September, there was 2.8 months of supply available in Chester Springs and Exton, compared to 3.0 in September 2018. That is a decrease of 9% 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 57 homes newly listed for sale in Chester Springs and Exton compared to 45 in September 2018, an increase of 27%. There were 40 current contracts pending sale this September compared to 26 a year ago. The number of current contracts is 54% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Chester Springs and Exton was 96.4% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 61, higher than the average last year, which was 58, an increase of 5%.

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.