Is Chester Springs, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Chester Springs has remained a Buyer's Market.
Key Takeaway
Chester Springs is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Chester Springs, PA
How much do homes in Chester Springs, PA cost?
Median Sold Price
$669,000
$219/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
The sold price of homes in Chester Springs has remained the same since last year.
Summary: The median home sold price in Chester Springs was $669,000 in March 2024, down 0.2% from last year, and the median price per square foot was $219.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $300K | $340.5K | +13.5% |
| 3 Bedrooms | $526K | $535K | +1.7% |
| 4 Bedrooms | $730K | $827.5K | +13.4% |
| 5+ Bedrooms | $905K | $1.1M | +21.5% |
Summary: Chester Springs housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 13.5%, 3 bedroom homes increased by 1.7%, 4 bedroom homes increased by 13.4%, and 5+ bedroom homes increased by 21.5%.
Median Sold Price Compared To Nearby Cities
| West Vincent Township | $705K | $778.5K | +10.4% |
| Exton | $525K | $565K | +7.6% |
| Chester Springs | $670.5K | $669K | -0.2% |
Housing Supply in Chester Springs, PA
How many homes are available in Chester Springs, PA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 83 | 94 | +13.3% |
Summary: The Chester Springs real estate market had 94 homes for sale in March 2024, a 13.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 13 | 12 | -7.7% |
| 3 Bedrooms | 35 | 37 | +5.7% |
| 4 Bedrooms | 21 | 28 | +33.3% |
| 5+ Bedrooms | 14 | 17 | +21.4% |
Summary: The Chester Springs housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 7.7%, 3 bedroom homes increased by 5.7%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 21.4%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 9 | +125.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Chester Springs, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in Chester Springs in March 2024, up by 125.0% month-over-month. Of the 9 sold homes, 22% were sold under asking, 22% were sold at asking, and 56% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 55 Days | 25 Days | -54.9% |
Summary: Homes in Chester Springs had an average of 25 days on market in Mar 2024, down by 54.9% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Chester Springs are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 9 homes were sold in Chester Springs; 78% 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.
