Chester Springs appreciation rates and housing market information

Chester Springs housing market information

With a population of 7,645, 2,361 total housing units (homes and apartments), and a median house value of $698,920, Chester Springs house prices are not only among the most expensive in Pennsylvania, Chester Springs real estate also is some of the most expensive in all of America.

single-family detached homes are the single most common housing type in Chester Springs, accounting for 91.06% of the town's housing units. Other types of housing that are prevalent in Chester Springs include row houses and other attached homes (7.12%), duplexes, homes converted to apartments, or other small apartment buildings (1.27%), and a few large apartment complexes or high rise apartments (0.55%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Chester Springs. Owner-occupied housing accounts for 88.73% of Chester Springs's homes, and 74.29% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Chester Springs built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Chester Springs built from 1940-1969 (21.47%). A lesser amount of the housing stock also hails from 1995 and later (19.10%), and some were built from 1939 and earlier (19.10%).

Chester Springs home appreciation rates

In the last 10 years, Chester Springs has experienced some of the highest home appreciation rates of any community in the nation. Chester Springs real estate appreciated 108.25% over the last ten years, which is an average annual home appreciation rate of 10.82%, putting Chester Springs in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Chester Springs definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Chester Springs appreciation rates have trailed the rest of the nation. In the last twelve months, Chester Springs's appreciation rate has been -1.54%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Chester Springs were at -0.06%, which equates to an annual appreciation rate of -0.24%.

Relative to Pennsylvania, our data show that Chester Springs's latest annual appreciation rate is higher than 20% of the other cities and towns in Pennsylvania.