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Wallingford PA Real Estate – March 8, 2021 To March 14, 2021

March 16, 2021 by admin

A weekly review of recently sold homes in Wallingford PA and current market statistics.

There are 21 homes listed for sale – 12 Active listings and 9 Active Under Contract listings – in Wallingford PA and Nether Providence Township on March 16, 2021 with an average asking price of $505,195.

The McMansion, which was popular in the 1980s and ’90s, is having a renaissance as demand surges during the pandemic for larger properties with expansive yards. Homes that are 4,000 square feet or more sold 70% faster than smaller homes nationwide in February, according to realtor.com®.

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Wallingford Market Snapshot – 21 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$505,195	$462,000	$139,900	$999,500	35

Single Home Market Snapshot – 15 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$601,573	$575,000	$214,400	$999,500	36

Condo Market Snapshot – 4 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$213,925	$208,400	$139,900	$298,900	11

Townhouse Market Snapshot – 2 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$364,900	$364,900	$329,900	$399,900	66

*DOM = Days On Market

7 Wallingford PA homes went under contract

7 new listings came onto the market

No listings were withdrawn from the market

No listings were temporarily taken off the market

No listings expired

24 homes are Under Contract at this time

2 Wallingford PA homes sold last week

**Wallingford Homes Sold March 8, 2021 To March 14, 2021**
ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
199 Elm Road	SNG	3	1.0	$300,000	03/12/21	4
760B Putnam Blvd	CONDO	2	1.0	$115,000	03/10/21	27
AVERAGE				$207,500		16

199 Elm Road sold with a$1,450 Seller Assist:

Wallingford PA Real Estate – Wallingford, PA 19086

Wallingford PA Real Estate – March 1, 2021 To March 7, 2021

March 9, 2021 by admin

A weekly review of recently sold homes in Wallingford PA and current market statistics.

There are 16 homes listed for sale – 13 Active listings and 3 Active Under Contract listings – in Wallingford PA and Nether Providence Township on March 9, 2021 with an average asking price of $561,644.

In Denver, real estate pros are reporting that some listings are seeing more than 100 showings in one weekend and are then receiving more than 20 offers. Buyers are being told to expect going 20% above the list price if they want a home. Markets across the country are reporting the same.

The spring home buying season is expected to be fierce for house hunters.

Here’s the reason: More than 200,000 new listings have been absent from the U.S. housing market during the first two months of 2021 compared to levels seen over the last four years. Buyer demand is surging and there aren’t enough homes for sale. Inventory woes were common in markets even prior to the pandemic, but they’ve worsened since.

There are nearly 50% fewer homes for sale this year than last year, according to realtor.com®’s newly released Monthly Housing Trends Report.

In the Philadelphia Metro area there are 46.0% fewer homes on the market than this time last year, and in Wallingford there were 28 homes listed during the first week of March 2020, now there are just 16 – a 43.0% drop.

Extreme winter weather nationwide pushed new listings to a record low in February, and realtor.com® warns it will be difficult to dig out from the low number of sales this spring.

What’s more, home buyers are seeing prices quickly rise. The median listing price in February increased nearly 14% over last year to $353,000.

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Wallingford Market Snapshot – 16 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$561,644	$397,450	$179,900	$1,069,000	39

Single Home Market Snapshot – 11 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$640,618	$600,000	$214,500	$1,069,000	44

Condo Market Snapshot – 2 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$217,400	$217,400	$179,900	$254,900	11

Townhouse Market Snapshot – 3 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$394,900	$399,900	$329,900	$454,900	40

*DOM = Days On Market

6 Wallingford PA homes went under contract

3 new listings came onto the market

No listings were withdrawn from the market

No listings were temporarily taken off the market

2 listings expired

20 homes are Under Contract at this time

3 Wallingford PA homes sold last week

**Wallingford Homes Sold March 1, 2021 To March 7, 2021**
ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
401 Crumwald Lane	SNG	5	4.1	$850,000	03/01/21	11
71 Fairhill Road	SNG	3	1.1	$420,500	03/04/21	121
27 Willow Road	SNG	3	2.0	$285,000	03/05/21	14
AVERAGE				$518,500		49

2 homes sold with a Seller Assist:

– 401 Crumwald Lane – $6,225

– 27 Willow Road – $5,000

Wallingford PA Real Estate – Wallingford, PA 19086

Wallingford Real Estate – February 2021

March 5, 2021 by admin

Media Walk - new home construction along Wallingford Avenue - Wallingford, PA

Media Walk – New Homes Under Construction Along Wallingford Avenue

There were 10 closed transactions in Wallingford during February which represents a drop of over 50% compared to last year. The average selling price fell 7.1% to $366,450.

Five single family homes sold for an average price of $523,800 during the month and averaged 84 Days On the Market. Last February recorded 14 singles homes selling for an average price of $427,786 and spent an average of 66 Days On the Market.

17 Kershaw Road had the highest selling price of the month at $920,000.

Six listings went under contract during the month – 5 single family homes and 1 townhouse – with an average asking price of $538,583 and an average of 10 Days On the Market.

There are 13 future settlements scheduled – 6 in March, 5 in April, 1 in May, and 1 in June.

Sales year to date are behind the pace of last year by 9 homes, with 31 closed transactions for the first 2 months of 2021 compared to 40 last year. The average selling price of $384,972 is a 15.4% increase compared to last year.

**Wallingford PA Closed Transactions February 2021**
ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
504 Vernon Street	TWIN	3	2.1	$395,000	02/03/21	13
100 Westminster Drive	SNG	3	2.1	$393,000	02/04/21	11
800 Avondale Road #6G	CONDO	2	2.0	$135,500	02/09/21	1
17 Kershaw Road	SNG	3	3.0	$920,000	02/09/21	107
216 Highland Avenue	SNG	6	4.1	$500,000	02/11/21	290
208 Emerald Lane	TWIN	3	1.1	$325,000	02/12/21	9
719 Pennsylvania Avenue	TWIN	2	1.0	$65,000	02/12/21	28
811 Pine Road	SNG	3	2.0	$267,000	02/16/21	8
616 Morris Lane	SNG	4	2.0	$489,000	02/23/21	6
715 Pennsylvania Avenue	SNG	3	1.1	$115,000	02/23/21	22
AVERAGE				$365,450		50

* DOM = Days On Market

1 of 10 transactions had a Seller Assist:

– 17 Kershaw Road – $9,000

Financing Methods

– Conventional Mortgage – 7 transactions

– Cash – 3 transactions

216 Highland Avenue and 715 Pennsylvania Avenue were reported as Short Sales.

**WALLINGFORD SINGLE HOMES – FEBRUARY 2021 – 5 SALES**
Avg Price	Median Price	Low	High	DOM*
$523,800	$489,000	$267,000	$920,000	84

**WALLINGFORD TWINS – FEBRUARY 2021 – 3 SALES**
Avg Price	Median Price	Low	High	DOM*
$261,667	$325,000	$65,000	$395,000	17

**WALLINGFORD CONDOS – FEBRUARY 2021 – 1 SALE**
Avg Price	Median Price	Low	High	DOM*
$135,500	$135,500	$135,500	$135,500	1

**WALLINGFORD ROW HOMES – FEBRUARY 2021 – 1 SALE**
Avg Price	Median Price	Low	High	DOM*
$115,000	$115,000	$115,000	$115,000	22

**WALLINGFORD – FEBRUARY 2020 VS FEBRUARY 2021**
	SALES	AVERAGE	DOM*	% ORIG LIST	% LAST LIST
2020	21	$394,643	51	94.3%	94.3%
2021	10	$366,450	50	99.3%	99.1%
	-52.4%	-7.1%	-1.9%	5.0%	4.8%

Wallingford PA Real Estate – Wallingford, PA 19086

Wallingford PA Real Estate – February 22, 2021 To February 28, 2021

March 2, 2021 by admin

A weekly review of recently sold homes in Wallingford PA and current market statistics.

There are 13 homes listed for sale – 12 Active listings and 1 Active Under Contract listings – in Wallingford PA and Nether Providence Township on March 3, 2021 with an average asking price of $527,388.

The 30-year fixed-rate mortgage came off its recent all-time lows to average near 3% this week. The 10-year Treasury yield, which mortgage rates closely follow, hit its highest level in the past year, prompting the increase in rates.

Rates continue to remain near historic lows, said Sam Khater, Freddie Mac’s chief economist. The all-time low for the 30-year fixed-rate mortgage was set in January, averaging 2.65%.

Freddie Mac reports the following national averages with mortgage rates for the week ending Feb. 25:

30-year fixed-rate mortgages: averaged 2.97%, with an average 0.6 point, up from last week’s 2.81% average. Last year at this time, 30-year rates averaged 3.45%.
15-year fixed-rate mortgages: averaged 2.34%, with an average 0.6 point, rising from last week’s 2.21% average. A year ago, 15-year rates averaged 2.95%.
5-year hybrid adjustable-rate mortgages: averaged 2.99%, with an average 0.1 point, rising from last week’s 2.77% average. A year ago, 5-year ARMs averaged 3.20%.

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Wallingford Market Snapshot – 13 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$527,388	$399,900	$137,900	$1,069,000	28

Single Home Market Snapshot – 8 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$694,113	$774,700	$214,500	$1,069,000	31

Condo Market Snapshot – 3 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$190,900	$179,900	$137,900	$254,900	3

Townhouse Market Snapshot – 2 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$364,900	$364,900	$329,900	$399,900	52

2 Wallingford PA homes went under contract

1 new listing came onto the market

No listings were withdrawn from the market

No listings were temporarily taken off the market

1 listing expired

14 homes are Under Contract at this time

2 Wallingford PA homes sold last week

**Wallingford Homes Sold February 22, 2021 To February 28, 2021**
ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
616 Morris Lane	SNG	4	2.0	$489,000	02/23/21	6
715 Pennsylvania Avenue	SNG	3	1.1	$115,000	02/23/21	22
AVERAGE				$302,000		14

Wallingford PA Real Estate – Wallingford, PA 19086

Wallingford PA Real Estate – February 15, 2021 To February 21, 2021

February 23, 2021 by admin

A weekly review of recently sold homes in Wallingford PA and current market statistics.

There are 10 homes listed for sale – 7 Active listings and 3 Active Under Contract listings – in Wallingford PA and Nether Providence Township on February 23, 2021 with an average asking price of $566,180.

Home sales could easily be 20% higher if more homes were for sale, says Lawrence Yun, chief economist of the National Association of REALTORS®. Existing-home sales – completed transactions for single-family homes, townhomes, condos, and co-ops – rose 0.6% in January compared to December 2020 and are up nearly 24% over a year ago, the National Association of REALTORS® reported Friday. All four major regions of the U.S. recorded double-digit annual gains for home sales in January.

“Home sales continued to ascend in the first month of the year, as buyers quickly snatched up virtually every new listing coming on the market,” Yun says. Seventy-one percent of homes sold in January were on the market for less than a month, according to NAR’s report.

While most of the economy has felt the toll of the lingering COVID-19 pandemic, the housing sector has remained a bright spot, Yun adds. Sales remain high and home prices have continued to rise, adding equity to home sellers.

“Home sales are continuing to play a part in propping up the economy,” Yun says. “With additional stimulus likely to pass and several vaccines now available, the housing outlook looks solid for this year.” Yun predicts employment to increase, which could spur even more home buying over the coming months. He predicts existing-home sales to reach at least 6.5 million in 2021.

Here’s a closer look at key indicators from NAR’s existing-home sales report, reflecting January sales data:

Home prices: The median existing-home price for all housing types in January was $303,900—a 14% jump over a year ago.

Inventory: Total housing inventory at the end of January was 1.04 million units, down nearly 26% from a year ago. Unsold inventory sits at a 1.9-month supply at the current sales pace.

Days on the market: Properties typically remained on the market for 21 days in January, down from 43 days a year prior.

First-time buyers: First-time buyers comprised 33% of sales in January, up slightly from 32% a year earlier.

Cash sales: All-cash sales accounted for 19% of transactions in January, down from 21% a year ago. Individual investors or second-home buyers tend to make up the biggest bulk of cash sales. They accounted for 15% of sales in January, down from 17% in January 2020.

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Wallingford Market Snapshot – 10 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$566,180	$514,500	$214,500	$1,069,000	43

Single Home Market Snapshot – 8 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$636,488	$649,750	$214,500	$1,069,000	41

Townhouse Market Snapshot – 2 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$284,950	$284,950	$240,000	$329,900	51

3 Wallingford PA homes went under contract

2 new listings came onto the market

No listings were withdrawn from the market

No listings were temporarily taken off the market

2 listings expired

16 homes are Under Contract at this time

1 Wallingford PA home sold last week

**Wallingford Homes Sold February 15, 2021 To February 21, 2021**
ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
811 Pine Road	SNG	3	2.0	$267,000	02/16/21	8
AVERAGE				$267,000		8

Wallingford PA Real Estate – Wallingford, PA 19086

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S. Clark Kendus