Wallingford Weekly Update 2015

Wallingford PA Real Estate – June 29, 2015 To July 12, 2015

July 14, 2015 by admin

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

There are 89 homes listed for sale in Wallingford PA and Nether Providence Township on July 14, 2015.

Becoming a home owner and making mortgage payments on a 3 bedroom property is more affordable than paying fair market rent on a 3 bedroom property in 188 of the 285 counties analyzed, according to a new analysis released by RealtyTrac.

The study compared the percentage of median household income in each county that would be necessary to pay the fair market rent on a 3 bedroom property to the percentage of median household income that would be needed to make monthly house payments – including mortgage, insurance, and property taxes – on an average-priced 3 bedroom property.

The average percentage of median household income needed to rent was 29.96% across all 285 counties analyzed. The average percentage of median household income needed to buy was 29%.

Wallingford Market Snapshot – 89 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$343,418	$310,000	$85,000	$869,900	112

Single/Twin Market Snapshot – 72 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$382,867	$354,750	$97,000	$869,900	110

Townhouse/Condo Market Snapshot – 17 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$176,343	$182,000	$85,000	$299,900	121

*DOM = Days On Market

5 Wallingford PA homes went under contract

13 new listings came onto the market

No listings expired

No listings were withdrawn from the market

31 homes are Under Contract at this time

19 Wallingford PA homes sold

Wallingford Homes Sold June 29, 2015 To July 12, 2015
ADDRESS	BED	BATH	PRICE	SETTLED	DOM*
304 Crestview Circle	3	2.1	$428,775	06/29/15	6
6 W Brookhaven Road	3	2.1	$340,000	06/29/15	18
236 Canterbury Drive	3	1.1	$305,000	06/29/15	106
406 Laurel Lane	4	2.1	$460,000	06/30/15	5
213 Walnut Road	3	2.0	$233,000	06/30/15	10
314 Blakeley Road	3	2.1	$320,000	06/30/15	16
221 W Rose Valley Road	4	1.0	$178,000	06/30/15	7
1001 Putnam Blvd	3	2.1	$181,000	06/30/15	1
1160 Putnam Blvd	2	2.1	$175,000	06/30/15	171
801 Manchester Ave	5	3.0	$510,000	06/30/15	5
820 Meredith Drive	5	4.1	$519,000	07/01/15	128
207 Copples Lane	4	3.0	$350,000	07/01/15	27
206 Pine Road	3	1.1	$222,000	07/01/15	9
369 Saybrook Lane	2	2.1	$167,500	07/01/15	156
618 Morris Lane	4	3.1	$360,000	07/01/15	104
722 Pine Ridge Road	3	1.1	$232,000	07/06/15	9
8 Green Valley Road	3	1.1	$287,000	07/08/15	8
101 Beech Road	3	1.1	$215,100	07/08/15	25
800 Avondale Road PH14	1	1.0	$83,000	07/10/15	82
AVERAGE			$292,967		47

*DOM = Days On Market

8 homes sold with a Seller Assist:

– 236 Canterbury Drive – $1,000

– 213 Walnut Road – $6,000

– 406 Laurel Lane – $3,000

– 820 Meredith Drive – $19,000

– 207 Copples Lane – $8,750

– 206 Pine Road – $7,000

– 618 Morris Lane – $10,000

– 101 Beech Road – $5,000

Wallingford PA Real Estate – Wallingford, PA 19086

Wallingford PA Real Estate – June 22, 2015 To June 28, 2015

June 30, 2015 by admin

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

There are 89 homes listed for sale in Wallingford PA and Nether Providence Township on June 30, 2015.

Buyers signed more contracts to purchase homes in May pushing pending home sales to their highest level in 9 years. The National Association of Realtors reports that it’s pending home sales index is just below the level of sales in April 2006.

Steady job growth and slowly rising mortgage rates have greater urgency among buyers. Contract signings increased in the Northeast and Western regions of the country while declining in the South and Midwest.

There are currently 43 homes under contract in Wallingford at this time

Wallingford Market Snapshot – 89 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$332,937	$329,900	$85,000	$819,000	113

Single/Twin Market Snapshot – 74 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$369,489	$364,450	$99,000	$819,000	104

Townhouse/Condo Market Snapshot – 15 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$152,616	$154,900	$85,000	$299,900	159

*DOM = Days On Market

6 Wallingford PA homes went under contract

5 new listings came onto the market

No listings expired

No listings were withdrawn from the market

43 homes are Under Contract at this time

9 Wallingford PA homes sold last week

Wallingford Homes Sold June 22, 2015 To June 28, 2015
ADDRESS	BED	BATH	PRICE	SETTLED	DOM*
700 Avondale Rd #5C	2	2.0	$112,000	06/22/15	45
103 Willow Road	3	2.1	$255,000	06/22/15	14
705 Kincaid Mills Lane	4	3.1	$425,000	06/22/15	6
394 Turner Road	5	3.1	$568,050	06/24/15	10
28 Green Valley Road	3	1.1	$376,000	06/25/15	5
AVERAGE			$347,210		16

*DOM = Days On Market

No homes sold had a Seller Assist:

Wallingford PA Real Estate – Wallingford, PA 19086

Wallingford PA Real Estate – June 15, 2015 To June 21, 2105

June 23, 2015 by admin

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

There are 95 homes listed for sale in Wallingford PA and Nether Providence Township on June 23, 2015.

The total number of mortgaged residential properties with equity stands at roughly 90% (44.9 million), with 10.2% of mortgaged homes (5.1 million) nationwide underwater or with negative equity.

According to a recent analysis from CoreLogic, overall borrower equity increased year over year by $694 billion in the first quarter of 2015, with 254,000 properties regaining equity. It’s worth noting that 19.4 percent of borrowers with equity have less than 20 percent equity, and 2.7% have less than 5%.

The bulk of positive equity for mortgaged properties is concentrated at the high end of the housing market. CoreLogic reports that 94% of homes valued at more than $200,000 have equity, compared with 85% of homes valued at less than $200,000.

The highest percentage of mortgaged properties in positive equity were found in:

Texas (97.7%)

Hawaii (96.7%)

Alaska (96.8%)

Montana (96.8%)

North Dakota (96.2%)

The markets with the highest percentage of mortgaged properties in negative equity were:

Nevada (23.1%)

Florida (21.2%)

Illinois (16.8%)

Arizona (16.8%)

Rhode Island (15.7%)

Combined, these five states accounted for 31.4% of negative equity in the U.S.

Wallingford Market Snapshot – 95 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$339,810	$319,900	$85,000	$1,000,000	105

Single/Twin Market Snapshot – 80 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$374,945	$359,700	$99,000	$1,000,000	96

Townhouse/Condo Market Snapshot – 15 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$152,423	$154,900	$85,000	$299,900	152

*DOM = Days On Market

5 Wallingford PA homes went under contract

6 new listings came onto the market

No listings expired

No listings were withdrawn from the market

46 homes are Under Contract at this time

9 Wallingford PA homes sold last week

Wallingford Homes Sold June 15, 2015 To June 21, 2015
ADDRESS	BED	BATH	PRICE	SETTLED	DOM*
211 Stanford Drive	5	3.1	$295,500	06/15/15	14
856B Putnam Blvd	2	1.0	$95,000	06/16/15	53
200 Garnet Lane	4	2.1	$415,000	06/16/15	7
41 Medbury Lane	3	1.0	$290,000	06/17/15	4
844A Putnam Blvd	2	1.0	$115,000	06/18/15	374
636 E Wiltshire Drive	3	2.1	$209,900	06/19/15	6
909 Winding Way	5	3.1	$650,000	06/19/15	10
811 Meredith Drive	4	3.0	$560,000	06/19/15	4
804A Putnam Blvd	2	1.0	$106,000	06/19/15	180
AVERAGE			$304,044		72

*DOM = Days On Market

2 of 9 homes sold had a Seller Assist:

– 636 E Wiltshire Drive – $9,000

– 811 Meredith Drive – $1,650

Wallingford PA Real Estate – Wallingford, PA 19086

Wallingford PA Real Estate – June 8, 2015 To June 14 2015

June 16, 2015 by admin

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

There are 98 homes listed for sale in Wallingford PA and Nether Providence Township on June 16, 2015.

Median Priced Home – School Tax Bills In Delaware County
SCHOOL DISTRICT	2010/11	2014/15	2015/16	1 Yr	5 Yr

Wallingford PA Real Estate - Wallingford PA - School Tax Bill Increases

Philadelphia Inquirer – June 14, 2015

Wallingford Swarthmore School District again took dubious top honors in an article entitled Tax Hikes Become A Rite Of Summer. The district posted the largest average tax bill for a median priced home among Delaware County’s 14 school districts. The median tax bill was in fact the largest among the entire list of 53 districts in Bucks, Chester, and Montgomery as well. WSSD also had the highest dollar increase in taxes over the last five years in Delaware County.

Wallingford Market Snapshot – 98 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$351,242	$339,900	$85,000	$1,000,000	102

Single/Twin Market Snapshot – 80 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$390,619	$374,750	$99,000	$1,000,000	91

Townhouse/Condo Market Snapshot – 18 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$176,236	$180,950	$85,000	$389,900	150

*DOM = Days On Market

3 Wallingford PA homes went under contract

7 new listings came onto the market

1 listing expired

No listings were withdrawn from the market

50 homes are Under Contract at this time

6 Wallingford PA homes sold last week

Wallingford Homes Sold June 8, 2015 To June 14, 2015
ADDRESS	BED	BATH	PRICE	SETTLED	DOM*
10 Irving Road	3	2.0	$390,000	06/10/15	8
AVERAGE			$390,000		8

*DOM = Days On Market

Wallingford PA Real Estate – Wallingford, PA 19086

Wallingford PA Real Estate – June 1, 2015 To June 7, 2015

June 9, 2015 by admin

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

There are 90 homes listed for sale in Wallingford PA and Nether Providence Township on June 9, 2015.

Home owners tend to overestimate the value of their properties by about 8%, according to a study published in the Journal of Housing Economics.

Researchers say that the overvaluations often are from owners who miscalculate their estimations over the capital gains they’ve accumulated in the house. The study echoes similar findings from a recent survey conducted by Quicken Loans, which found a widening gap between what home owners think their home is worth and appraisers’ valuations.

Appraisers also note that home owners often don’t realize that they may have over-improved their home compared to others in the neighborhood, which can lead to overestimated values. Owners may spend thousands of dollars for upgrades when nobody else in their price point has done so.

Wallingford Market Snapshot – 90 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$348,813	$339,900	$85,000	$1,000,000	108

Single/Twin Market Snapshot – 72 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$390,994	$384,750	$99,000	$1,000,000	99

Townhouse/Condo Market Snapshot – 18 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$180,086	$180,950	$85,000	$389,900	143

*DOM = Days On Market

8 Wallingford PA homes went under contract

1 new listing came onto the market

No listings expired

2 listings were withdrawn from the market

51 homes are Under Contract at this time

6 Wallingford PA homes sold last week

Wallingford Homes Sold June 1, 2015 To June 7, 2015
ADDRESS	BED	BATH	PRICE	SETTLED	DOM*
204 Ronaldson Street	3	2.1	$245,000	06/01/15	366
29 Willow Road	3	2.0	$237,500	06/03/15	94
115 Willow Road	3	2.1	$252,450	06/05/15	2
7 Medbury Lane	3	1.0	$283,000	06/05/15	9
725 Kincaid Mills Lane	3	2.1	$370,000	06/05/15	425
308 Colonial Drive	4	2.1	$600,000	06/05/15	2
AVERAGE			$331,325		150

*DOM = Days On Market

4 of the 6 homes sold had a Seller Assist:

– 29 Willow Road – $150

– 7 Medbury Lane – $5,000

– 725 Kincaid Mills Lane – $2,000

– 308 Colonial Drive – $3,000

Wallingford PA Real Estate – Wallingford, PA 19086

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S. Clark Kendus