1st Quarter Wallingford Homes Sales Incresase 38% Over Last Year
Sales of Wallingford PA homes posted a strong showing in the 1st quarter of 2012 when compared to the same period of last year in terms of number of homes sold – 25 this year versus 18 in the 1st Quarter of 2011.
Condominium and townhouse sales activity in the quarter was very weak. There was one 1 condominium unit at Crum Creek Valley sold, and no townhouses sold in the first 3 months of this year.
The interest in local townhouses in Putnam and Weston Villages has been noticeably low for quite some time now. The inability of buyers to obtain FHA financing for local townhouse communities plays a big factor here. Weston Village lost it’s FHA approval last summer, and sales have suffered as a result.
The average price of Wallingford PA homes for the period of January through March, showed a steep drop of 22.2% over the same time last year.
Much of this decline can be attributed a larger number than usual of homes selling at $100,000 or lower. Last year there were 2 homes in this category, this year there were 6. This was also reflected in the median price in the 1st Quarter 2011 registering at $212,000 versus $253,900 in 2011.
Days On Market was just slightly higher than last year, 181 compared to 172 last year.
Interest rates remained at record low levels, and the affordability of homes has also reached record levels, but these favorable conditions have not generated the anticipated buyer interest.
There were 6 Wallingford PA homes sold in January 2012, 9 in February 2012, and 10 sold in March 2012 to finish up the quarter.
Home prices ranged from a low of $45,100 to a high mark of $545,000 for the quarter.
| SALES | AVERAGE | DOM | STL TO ORIG | STL TO LAST | |
| 2011 | 18 | $285,900 | 172 | 87.06% | 93.55% |
| 2012 | 25 | $222,298 | 181 | 83.07% | 92.86% |
| 38.8% | -22.2% | 5.2% | -3.99% | -0.69% |
