Is Chester Springs, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Chester Springs has remained a Seller's Market.
Housing Prices in Chester Springs, PA
How much do homes in Chester Springs, PA cost?
Median Sold Price
$670,000
$221/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Chester Springs was $670,000 in May 2024, up 0.4% from last year, and the median price per square foot was $221.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $325K | $350K | +7.7% |
3 Bedrooms | $540K | $551K | +2.0% |
4 Bedrooms | $760K | $827.5K | +8.9% |
5+ Bedrooms | $900K | $1.0M | +16.7% |
Summary: Chester Springs housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 2%, 4 bedroom homes increased by 8.9%, and 5+ bedroom homes increased by 16.7%.
Median Sold Price Compared To Nearby Cities
Exton | $530.5K | $565K | +6.5% |
West Vincent Township | $710K | $730K | +2.8% |
Chester Springs | $667.5K | $670K | 0.4% |
West Pikeland Township | $800K | $760K | -5.0% |
Housing Supply in Chester Springs, PA
How many homes are available in Chester Springs, PA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
62 | 81 | +30.6% |
Summary: The Chester Springs real estate market had 81 homes for sale in May 2024, a 30.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 7 | 10 | +42.9% |
3 Bedrooms | 24 | 29 | +20.8% |
4 Bedrooms | 23 | 32 | +39.1% |
5+ Bedrooms | 8 | 10 | +25.0% |
Summary: The Chester Springs housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 42.9%, 3 bedroom homes increased by 20.8%, 4 bedroom homes increased by 39.1%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
9 | 19 | +111.1% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Summary: A total of 19 homes were sold or pending in Chester Springs in May 2024, up by 111.1% month-over-month. Of the 19 sold homes, 16% were sold under asking, 21% were sold at asking, and 63% were sold over asking.
Days on Market for Chester Springs, PA
How long does it take to sell a home in Chester Springs, PA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
34 Days | 30 Days | -11.3% |
Summary: Homes in Chester Springs had an average of 30 days on market in May 2024, down by 11.3% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 19 homes were sold in Chester Springs; 79% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.