Wallingford Monthly Market Updates

Wallingford Real Estate – September 2011

October 3, 2011 by admin

WALLINGFORD REAL ESTATE

Fourteen Strath Haven Middle School students designed and built the above Haven mascot themed sculpture near the school entrance over the summer break. The 5 foot high concrete sculpture incorporates the Panther mascot and the word HAVEN in it’s design.

September marks the third month in a row that that sales increased over the same month of the previous year, with 15 Wallingford homes sold in September 2011 as opposed to 7 sales in September 2010. Fifteen sales was the second highest total for September recorded in the past five years, eclipsed only in August 2009 when there were 19 sales. This upswing in homes sold maintains the trend begun earlier in the summer.

Wallingford September Sales – Last 5 Years

2007 – 10 sales

2008 – 12 sales

2009 – 19 sales

2010 – 7 sales

2011 – 15 sales

The average Days on Market was 100 days.

Average sales price continues to fall relative to last year, slipping 4% from the price level of September 2010 to $282,227.

There were 15 Wallingford homes sold during the month of September 2011.

WALLINGFORD HOMES SOLD – SEPTEMBER 2011

Address	Bed	Bath	Price	Settled
704 Maryland Avenue	1	1.0	$65,000	09/01/11
605 Crum Creek Road	4	2.5	$460,000	09/02/11
712 Pennsylvania Avenue	3	2.0	$80,000	09/09/11
6 Strathmore Court	4	2.5	$712,500	09/13/11
1014 Putnam Blvd	3	2.5	$194,000	09/14/11
211 Woodcrest Road	3	2.5	$365,000	09/16/11
714B Putnam Blvd	2	1.0	$130,000	09/16/11
302 Woodcrest Road	4	2.5	$405,000	09/21/11
313 Crestview Circle	3	2.5	$337,000	09/23/11
209 Stanford Drive	3	1.5	$219,900	09/23/11
206 Willow Road	3	1.5	$220,000	09/23/11
805 Springlawn Drive	3	2.0	$320,000	09/23/11
999 Putnam Blvd	3	2.5	$209,000	09/26/11
800 Avondale Road – Unit 7E	1	1.0	$106,000	09/27/11
31 Waterford Way	5	2.5	$410,000	09/28/11

These 15 Wallingford homes were on the market an average of 100 days, with the average sold price representing 89.39% of the original asking price, and 93.31% of the last asking price.

For the short and long of it, 1014 Putnam Blvd was on the market for25 days, while 6 Strathmore Court was on the market 177 days.

Conventional financing was the financing method of choice in 9 transactions, 4 were cash deals,1 utilized FHA financing, and 1 used VA financing.

209 Stanford Drive was a Bank Owned Forclosure.

A Seller Assist was utilized in 3 of the 15 Wallingford homes sold, ranging from $750 to $10,196.

211 Woodcrest Road – $6,000

209 Stanford Road – $10.196

206 Willow Road – $750

Wallingford September 2011 Activity vs September 2010

	*SALES*	*AVERAGE*	*DOM*	*STL TO ORIG*	*STL TO LAST*
2010	7	$294,286	67	96.86%	96.96%
2011	15	$282,227	100	89.39%	93.31%
	114.0%	– 4.0%	49.0%	-7.47%	-3.65%

SWARTHMORE REAL ESTATE

4 Swarthmore homes sold during the month of September 2011.

SWARTHMORE HOMES SOLD – SEPTEMBER 2011

Address	Bed	Bath	Price	Settled
328 Park Avenue	3	1.5	$272,500	09/14/11
516 Walnut Lane	5	2.2	$385,000	09/16/11
801 Yale Avenue – #814	2	2.0	$140,000	09/23/11
215 Cornell Avenue	7	3.4	$800,000	09/23/11

These 4 Swarthmore homes sold for an average price of $399,375, and were on the market an average of 234 days, fetching 91.14% of original asking price, and 94.95% of last asking price.

For the short and long, 215 Cornell Avenue was on the market 36 days, and 801 Yale Avenue #814 was on the market 720 days.

1 transaction utilized conventional financing, 2 were cash deals, and 1 used other financing.

Comparing this year’s Swarthmore activity with the past 4 years:

Swarthmore September Sales – Last 5 Years

2007 – 4 sales

2008 – 6 sales

2009 – 0 sales

2010 – 4 sales

2011 – 4 sales

Swarthmore September 2011 Activity vs September 2011

	*SALES*	*AVERAGE*	*DOM*	*STL TO ORIG*	*STL TO LAST*
2010	4	$443,625	263	90.40%	93.71%
2011	4	$399,375	234	91.14%	94.95%
	0.0%	-10.0%	-11.0%	0.74%	1.24%

www.wallingfordpahomes.com – Wallingford, PA 19086

Wallingford Real Estate – August 2011

September 2, 2011 by admin

: Frequent August Visitor To My Back Yard In Wallingford

WALLINGFORD REAL ESTATE

Augusts marks the second month in a row that that sales increased over the same month of the previous year, with 18 Wallingford homes sold in August 2011 as opposed to 10 sales in August 2010. Eighteen sales was the second highest total for August recorded in the past five years, eclipsed only in August 2007 in a much different real estate climate when there were 19 sales. It is encouraging to see sales on the upswing.

Wallingford August Sales – Last 5 Years

2007 – 19 sales

2008 – 17 sales

2009 – 16 sales

2010 – 10 sales

2011 – 18 sales

August is traditionally a busy month for settlements, as buyers want to be in place prior to the start of the new school year. However it is one of the slowest months in regards to home showings and sales.

The average Days on Market was a resonable 98 days.

The percentage of sales price to last list price posted at 96.39%, which represents pricing in alignment with the market. On the other hand the average sales price continues to fall relative to last year, slipping 8% from the price level of August 2010 to $299,948.

There were 18 Wallingford homes sold during the month of August 2011.

WALLINGFORD HOMES SOLD – AUGUST 2011

Address	Bed	Bath	Price	Settled
110 Cameron Drive	4	2.5	$309,900	08/03/11
742 Pennsylvania Avenue	2	1.0	$48,000	08/05/11
604 Bowers Lane	5	2.0	$261,900	08/11/11
308 Marlyn Lane	4	2.0	$212,000	08/11/11
302 Hastings Avenue	4	2.5	$258,900	08/12/11
601 Rockbourne Mills Court	3	2.5	$360,000	08/19/11
213 Cedar Road	3	1.5	$155,000	08/22/11
321 West Rose Valley Road	4	2.5	$353,000	08/24/11
706 Blue Hill Drive	4	2.5	$380,000	08/24/11
738 Pine Ridge Road	4	3.5	$430,000	08/25/11
415 Sheffield Drive	4	2.0	$200,000	08/26/11
856A Putnam Blvd #67A	2	1.0	$118,500	08/26/11
216 Copples Lane	4	2.5	$472,500	08/26/11
398 Turner Road	3	3.5	$385,000	08/29/11
301 Colonial Drive	5	3.5	$575,000	08/31/11
406 North Providence Road	3	1.5	$320,000	08/31/11
704 Oxford Lane	3	2.5	$332,365	08/31/11
410 Trenton Court	3	2.0	$207,000	08/31/11

These 18 Wallingford homes were on the market an average of 61 days, with the average sold price representing 94.16% of the original asking price, and 96.32% of the last asking price.

For the short and long of it, 110 Cameron Drive was on the market for 3 days, while 706 Blue Hill Drive was on the market 343 days.

Conventional financing was the financing of choice in 10 transactions, 5 utilized FHA financing, and 3 were cash deals.

308 Marlyn Lane was a Bank Owned Forclosure.

A Seller Assist was utilized in 6 of the 18 Wallingford homes sold, ranging from $6,350 to $15,000.

604 Bowers Lane – $15,000

308 Marlyn Lane – $6,350

302 Hastings Avenue – $10,000

704 Oxford Lane – $9,335

1044 Putnam Blvd – $11,000

410 Trenton Court – $8,750

Wallingford August 2011 Activity vs August 2010

	*SALES*	*AVERAGE*	*DOM*	*STL TO ORIG*	*STL TO LAST*
2010	10	$326,390	61	94.16%	96.32%
2011	18	$299,948	98	92.0%	96.39%
	80.0%	– 8.0%	61.0%	-2.16%	0.07%

SWARTHMORE REAL ESTATE

: Fallen Tree On Rt 320 Near Cedar Lane After Hurricane Irene

10 Swarthmore homes sold during the month of August 2011.

SWARTHMORE HOMES SOLD – AUGUST 2011

Address	Bed	Bath	Price	Settled
226 Dickinson Avenue	6	2.0	$495,000	08/01/11
801 Yale Avenue #1028	1	1.0	$93,000	08/02/11
401 Brighton Terrace	3	2.5	$325,000	08/03/11
527 Riverview Road	6	2.5	$460,000	08/05/11
408 Strath Haven Avenue	4	2.5	$352,000	08/05/11
109 South Princeton Avenue	6	2.5	$775,000	08/08/11
218 Garrett Avenue	5	3.2	$675,000	08/10/11
103 Columbia Avenue	3	2.5	$359,000	08/23/11
201 Dickinson Avenue	4	2.0	$484,000	08/31/11
910 Strath Haven Avenue	4	2.1	$415,000	08/31/11

These 10 Swarthmore homes sold for an average price of $443,300, and were on the market an average of 70 days, fetching 93.13% of original asking price, and 95.56% of last asking price.

For the short and long, 408 Strath Haven Avenue and 109 South Princeton Avenue were on the market 7 days, and 910 Strath Haven Avenue was on the market 306 days.

9 transactions utilized conventional financing, 1 was a cash deal.

Comparing this year’s Swarthmore activity with the past 4 years:

Swarthmore August Sales – Last 5 Years

2007 – 11 sales

2008 – 8 sales

2009 – 7 sales

2010 – 10 sales

2011 – 10 sales

Swarthmore August 2011 Activity vs August 2011

	*SALES*	*AVERAGE*	*DOM*	*STL TO ORIG*	*STL TO LAST*
2010	10	$353,600	114	91.18%	94.73%
2011	10	$443,300	70	93.13%	95.56%
	0.0%	25.0%	-39.0%	1.95%	0.83%

Wallingford Real Estate Review- July 2011

August 1, 2011 by admin

: Blue Route From Bullens Lane At Dusk

WALLINGFORD REAL ESTATE

July marked the first time this year that sales increased over the same month of the previous year, with 12 Wallingford homes sold in July 2011 as opposed to 11 sales in July 2010. Another encouraging trend was the average Days on Market was down substantially from previous months to 40 days. For the first six months of the year Days On Market averaged 182 days, so the drop to a 40 day average is significant. Coupled with the increase in the ratio of list price to selling price this indicates that seller pricing is coming into alignment with the market – proper pricing is reflected in shorter a marketing time and sale prices which closely reflect the asking price.

The percentage of sales price to original list was up to a strong 95.21%, and the corresponding measure of sales price to last list price posted at 96.55%. On the other hand the average sales price was down to $291,325, a drop of 23.0%.

There were 12 Wallingford homes sold during the month of July 2011.

WALLINGFORD HOMES SOLD – JULY 2011

Address	Bed	Bath	Price	Settled
114 Governors Drive	3	1.5	$227,000	07/01/11
1113 Putnam Blvd	3	2.5	$205,000	07/13/11
919 Winding Lane	3	2.5	$435,000	07/14/11
26 Cedar Road	4	1.0	$219,900	07/15/11
6 Kershaw Road	4	2.5	$545,000	07/15/11
115 Ridley Drive	3	1.5	$192,500	07/15/11
215 East Rose Valley Road	3	2.0	$392,000	07/21/11
705 Raleigh Court	2	1.0	$71,500	07/21/11
1044 Putnam Blvd	2	2.5	$204,900	07/29/11
409 Sheffield Drive	3	1.5	$265,000	07/29/11
209 Fox Lane	5	2.5	$510,000	07/29/11
607 Georgetown Road	3	1.5	$229,000	07/29/11

These 12 Wallingford homes were on the market an average of 40 days, with the average sold price representing 95.21% of the original asking price, and 96.55% of the last asking price.

919 Winding Lane was only on the market for 5days, while 115 Ridley Drive was on the market 125 days.

Conventional financing was utilized in 7 transactions, and 5 utilized FHA financing.

There were no distressed homes sales – Short Sales or Foreclosures reported.

A Seller Assist was utilized in 6 of 12 Wallingford homes sold, ranging from $525 to $11,000

114 Governors Drive – $7,850

26 Cedar Road – $1,500

6 Kershaw Road – $9,000

115 Ridley Drive – $5,500

1044 Putnam Blvd – $11,000

409 Sheffield Drive – $525

Wallingford July 2011 Activity vs July 2010

	*SALES*	*AVERAGE*	*DOM*	*STL TO ORIG*	*STL TO LAST*
2010	11	$378,200	53	94.36%	95.97%
2011	12	$291,325	40	95.21%	96.55%
	9.0%	– 23.0%	-24.5%	0.85%	0.58%

SWARTHMORE REAL ESTATE

There were 7 Swarthmore homes sold during the month of July 2011.

SWARTHMORE HOMES SOLD – JULY 2011

Address	Bed	Bath	Price	Settled
105 Cornell Avenue	5	2.5	$476,000	07/06/11
10 Ogden Avenue	4	2.5	$975,000	07/06/11
517 Walnut Lane	6	4.2	$854,000	07/13/11
228 Benjamin West	3	2.0	$310,000	07/13/11
10 Woodbrook Lane	4	4.5	$900,000	07/15/11
801 Yale Avenue #1123	2	2.0	$154,000	07/22/11
303 Elm Avenue	5	4.51	$1,010,000	07/28/11

These 7 Swarthmore homes sold for an average price of $688,429, and were on the market an average of 15 days, fetching 96.77% of original asking price, and 97.22% of last asking price.

Wallingford Real Estate Review – June 2011

July 1, 2011 by admin

WALLINGFORD REAL ESTATE

At the mid point of the year real estate in the Wallingford, Nether Providence Township can be characterized by a abundant supply of inventory and weak buyer demand. The year began with 91 homes for sale, and the inventory has steadily risen through the year, reaching a peak of 145 earlier this week. It is discouraging to pass through the Spring market with an increase in inventory, and as basic economics teaches- a large supply of inventory coupled with weak demand drives prices down, and the numbers support that lesson.

Sales are down 30% as compared to the first 6 months of 2010. With first half sales historically representing the majority of yearly sales, the market is looking at annualized sales of under 100 homes versus 125 in 2010, and well below the peak sales year of 2007, which recorded 219 sales.

The average sales price is also down by 8.6%. The numbers also show that initial asking prices of area homes has continued to be out of step with the market, with selling prices representing only 88.3% of original list prices, compared with 92.47% in 2010.

SALES AT MID YEAR 2010 VS 2011

	*SALES*	*AVERAGE*	*DOM*	*STL TO ORIG*	*STL TO LAST*
2010	80	$325,856	174	92.47%	95.63%
2011	56	$297,724	182	88.3%	93.07%
	– 30.0%	– 8.6%	8.0%	-4.17%	-2.56%

There were 18 Wallingford homes sold during the month of June 2011.

WALLINGFORD HOMES SOLD – JUNE 2011

Address	Bed	Bath	Price	Settled
832B Putnam Blvd	2	1.0	$120,000	06/01/11
711 Devon Lane	4	2.1	$260,000	06/01/11
114 Maple Road	3	1.0	$140,000	06/03/11
210 Willow Road	3	1.0	$145,000	06/03/11
510 West Brookhaven Road	4	2.1	$340,000	06/09/11
219 Sykes Lane	4	2.0	$350,000	06/13/11
835 Manchester Avenue	4	1.1	$180,000	06/14/11
410 West Rose Valley Road	4	2.2	$500,000	06/15/11
110 Walker Lane	4	3.1	$590,000	06/15/11
115A Beech Road	3	2.1	$260,000	06/15/11
725 Kincaid Mills Lane	3	2.1	$435,500	06/17/11
707 Harvey Road	3	2.0	$248,000	06/20/11
900 Heathdale Lane	4	2.1	$470,000	06/22/11
817 Parkridge Drive	4	3.1	$360,000	06/23/11
13 Kershaw Road	4	4.1	$872,500	06/24/11
300 Colonial Drive	5	3.1	$435,000	06/24/11
3 Chatham Place	5	3.1	$313,000	06/29/11
104 Quaint Road	4	2.0	$347,500	06/29/11

These 18 Wallingford homes were on the market an average of 245 days, with the average sold price representing 87.4% of the original asking price, and 93.07% of the last asking price.

3 Chatham Place was only on the market for 7 days, While 13 Kershaw Road was on the market 807 days.

Conventional financing was utilized in 10 transactions, Cash in 5 transactions, and 3 used FHA financing. There were no distressed homes sales – Short Sales or Foreclosures reported.

A Seller Assist was popular during June with 11 of 18 Wallingford homes sold having one, ranging from $400 to $16,650.

711 Devon Lane – $7,000

832B Putnam Blvd – $7,200

210 Willow Road – $800

114 Maple Road – $400

510 West Brookhaven Road – $9,000

110 Walker Lane – $16,650

510 West Rose Valley Road – $5,568

725 Kincaid Mills Lane – $5,500

707 Harvey Road – $10,000

900 Heathdale Lane – $1,500

104 Quaint Road – $1,450

June 2011 Activity vs June 2011

	*SALES*	*AVERAGE*	*DOM*	*STL TO ORIG*	*STL TO LAST*
2010	26	$382,871	152	93.5%	95.85%
2011	18	$353,964	245	87.4%	93.07%
	– 30.8%	– 7.6%	61.2%	-6.1%	-5.78%

There were 12 Swarthmore homes sold during the month of June 2011.

SWARTHMORE HOMES SOLD – JUNE 2011

Address	Bed	Bath	Price	Settled
334 Rutgers Avenue	3	2.0	$385,000	06/04/11
7 Village Green Lane	4	3.0	$312,000	06/08/11
438 Riverview Road	5	3.2	$890,000	06/09/11
404 Rutgers Avenue	5	4.2	$490,000	06/15/11
210 Dartmouth Avenue	3	3.0	$350,000	06/15/11
508 Harvard Avenue	5	2.1	$425,000	06/16/11
625 North Chester Road	4	3.1	$355,000	06/20/11
801 Yale Avenue #714	2	2.0	$140,000	06/21/11
318 Brighton Avenue	4	2.1	$425,363	06/24/11
137 Rutgers Avenue	5	3.1	$305,000	06/30/11
60 Dogwood Lane	4	3.2	$599,000	06/30/11
405 Dickinson Avenue	5	4.0	$592,000	06/30/11

These 12 Swarthmore homes sold for an average price of $439,030, and were on the market an average of 111 days, fetching 90.81% of original asking price, and 96.15% of last asking price.

To emphasize the point that real estate is local in nature, in this case hyper-local, Swarthmore sales through the first half of 2011 have increased over last year for the same period. There have been 27 sales at the mid point of the year compared to 26 units last year at the same time. For the same time period the average Swarthmore sales price rose from $345,058 in 2010 to $388,521 through June 30 of 2011.

Wallingford Real Estate Review – May 2011

June 5, 2011 by admin

WALLINGFORD REAL ESTATE

There were 7 Wallingford homes sold during the month of May 2011.

Address	Bed	Bath	Price	Settled
915 Penn Valley Road	4	3.0	$325,000	05/12/11
130 Westminster Drive	4	1.1	$298,500	05/20/11
408 Denver Court	3	2.0	$141,500	05/23/11
25 Walnut Road	4	2.0	$190,000	05/23/11
907 Heathdale Lane	4	2.1	$425,000	05/31/11
116 Cameron Drive	4	2.0	$278,500	05/31/11
102 Chestnut Parkway	4	2.0	$225,000	05/31/11

These homes were on the market an average of 148 days, with the average sold price representing 92.64% of the original asking price, and 96.06% of the last asking price.

130 Wesminster Drive was on the market for 5 days. It took amost a year, 344 days, almost one year, for the home at 907 Heathdale Lane to go under contract.

FHA financing was used in 4 of the transactions, with 2 homes using Covemtional financing, and one using VA financing. There were no distressed homes sales – Short Sales or Foreclosures reported.

Five Wallingford Homes Sold in May had a Seller Assist:

130 Westminster Drive – $5,000

408 Denver Court – $5,000

25 Walnut Road – $10,939

907 Heathdale Lane – $5,000

116 Cameron Drive – $13,500

May 2011 Activity vs May 2011

	*SALES*	*AVERAGE*	*DOM*	*STL TO ORIG*	*STL TO LAST*
2010	16	$322,738	194	89.55%	94.85%
2011	7	$269,071	148	92.64%	96.06%
	– 43.8%	– 16.6%	– 46.0%	3.09%	1.21%

There were 3 Swarthmore homes sold during the month of May 2011.

SWARTHMORE REAL ESTATE – MAY 2011

Address	Bed	Bath	Price	Settled
35 Wellesley Road	4	2.1	$801,500	05/12/11
904 Strath Haven Avenue	4	3.0	$300,000	05/18/11
219 Lafayette Avenue	3	2.0	$362,500	05/31/11

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WALLINGFORD REAL ESTATE

WALLINGFORD HOMES SOLD – SEPTEMBER 2011

Wallingford September 2011 Activity vs September 2010

SWARTHMORE REAL ESTATE

SWARTHMORE HOMES SOLD – SEPTEMBER 2011

Swarthmore September 2011 Activity vs September 2011

WALLINGFORD REAL ESTATE

WALLINGFORD HOMES SOLD – AUGUST 2011

Wallingford August 2011 Activity vs August 2010

SWARTHMORE REAL ESTATE

SWARTHMORE HOMES SOLD – AUGUST 2011

Swarthmore August 2011 Activity vs August 2011

WALLINGFORD REAL ESTATE

WALLINGFORD HOMES SOLD – JULY 2011

Wallingford July 2011 Activity vs July 2010

SWARTHMORE REAL ESTATE

SWARTHMORE HOMES SOLD – JULY 2011

WALLINGFORD REAL ESTATE

WALLINGFORD HOMES SOLD – JUNE 2011

June 2011 Activity vs June 2011

SWARTHMORE HOMES SOLD – JUNE 2011

WALLINGFORD REAL ESTATE

May 2011 Activity vs May 2011

SWARTHMORE REAL ESTATE – MAY 2011

S. Clark Kendus