Statewide The Housing Market Is Recovering
According to a recent Pennsylvania Association of Realtors® (PAR) market analysis report, the housing market across the state of Pennsylvania is showing signs of bouncing back from the housing slump. Closed sales were up 15 percent and new listings rose 12 percent in the third quarter of 2013 over the same quarter a year ago. The statistics are based on MLS data reported to PAR.
This trend is surpassed in the Wallingford PA market with closed sales increasing 41.9% in the 3rd quarter of 2013 over the same quarter 2012.
Across the Commonwealth median sale prices were up slightly with a 3 percent rise to $185,000 in the third quarter this year compared to the third quarter in 2012. Days on market continued to drop, down 14 percent to 80 days in the 3rd quarter, compared to the 3rd quarter 2012.
Pressured by rising interest rates and higher home prices the housing affordability index has fallen nearly 10 percent compared to the third quarter last year with the affordability index in the third quarter is at 165. An index of 120 means the median household income is 120 percent of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability.
Wallingford PA Real Estate – Wallingford, PA 19086
