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

There are 86 homes listed for sale in Wallingford PA and Nether Providence Township on May 23, 2017 with an average asking price of $383,056.

More homes are predicted to be sold this year than in more than a decade. In 2017, the number of existing-home sales is expected to increase about 3.5% to 5.64 million. By 2018, existing-home sales will likely rise another 2.8% to 5.8 million, according to forecasts by the National Association of REALTORS®.

The rise in new jobs, pent-up household formation, and increasing consumer confidence are helping to propel the housing market forward, says Lawrence Yun, NAR’s chief economist.

The new-home sector is also expected to see a surge over the next year. New-home sales are expected to rise 10.7% this year to 620,000. The sector is also expected to tick up another 8% in 2018 to 670,000 sales, NAR predicts.

Buyers are likely to face higher prices on homes. Prices are expected to increase 5% in 2017 and another 3.5% in 2018, NAR predicts.

Wallingford Market Snapshot – 86 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$383,056	$374,450	$95,000	$969,000	81

Single/Twin Market Snapshot – 67 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$444,748	$419,900	$134,900	$969,000	69

Townhouse/Condo Market Snapshot – 19 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$165,510	$120,000	$95,000	$385,000	120

*DOM = Days On Market

4 Wallingford PA homes went under contract

8 new listings came onto the market

No listings expired

No listings were withdrawn from the market

51 homes are Under Contract at this time

7 Wallingford PA homes sold last week

Wallingford Homes Sold May 15, 2017 To May 21, 2017

ADDRESS	BED	BATH	PRICE	SETTLED	DOM*
1012 Glen Road	4	3.1	$280,000	05/15/17	270
2 Lake Road	4	3.1	$750,000	05/15/17	12
700 Avondale Road #7E	2	2.0	$120,000	05/15/17	50
423 Oak Valley Road	4	2.1	$440,000	05/15/17	8
506 E Country Club Lane	3	2.0	$550,000	05/17/17	5
1049 Putnam Blvd	3	2.1	$150,000	05/17/17	12
412 Bickmore Drive	4	3.1	$455,000	05/19/17	5
Average			$390,000		52

One home sold with a Seller Assist

– 1012 Glen Road – $16,800

Wallingford PA Real Estate – Wallingford, PA 19086

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

There are 85 homes listed for sale in Wallingford PA and Nether Providence Township on May 16, 2017 with an average asking price of $375,027.

Home sales reached their highest pace in a decade in the first quarter of 2017 as property prices continue to escalate, according to the National Association of REALTORS®’ latest quarterly report.

The median price of an existing single-family home nationally was $232,100 in the first quarter, up 6.9% from the same time period a year ago. Home prices rose year over year in 85% of the 178 metro areas analyzed.

Wallingford Market Snapshot – 85 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$375,027	$360,000	$95,000	$969,000	78

Single/Twin Market Snapshot – 65 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$440,202	$419,900	$134,900	$969,000	67

Townhouse/Condo Market Snapshot – 20 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$163,210	$119,000	$95,000	$385,000	115

*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

52 homes are Under Contract at this time

5 Wallingford PA homes sold last week

Wallingford Homes Sold May 8, 2017 To May 14, 2017

ADDRESS	BED	BATH	PRICE	SETTLED	DOM*
305 Henry Lane	4	2.0	$390,000	05/08/17	1
419 E Country Club Lane	3	2.1	$425,000	05/11/17	4
123 Willow Road	3	2.0	$252,500	05/11/17	1
202 Walker Lane	4	2.0	$350,000	05/12/17	236
1 Bullens Lane	4	2.1	$450,000	05/12/17	56
Average			$373,500		60

One homes sold with a Seller Assist

– 202 Walker Lane – $7,300

Wallingford PA Real Estate – Wallingford, PA 19086

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

There are 84 homes listed for sale in Wallingford PA and Nether Providence Township on May 9, 2017 with an average asking price of $367,211.

Strong buyer demand this spring is pushing home prices up at double the rate of increase in income growth, The Wall Street Journal reports. The median price of an existing home for all housing types was $236,400 in March, up 6.8 % from a year ago, when it was $221,400, according to the National Association of REALTORS®. Incomes, meanwhile, increased 3% in February from a year earlier, according to the Labor Department.

Wallingford Market Snapshot – 84 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$364,714	$348,450	$95,000	$969,000	79

Single/Twin Market Snapshot – 65 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$426,366	$399,000	$134,900	$969,000	69

Townhouse/Condo Market Snapshot – 19 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$164,837	$119,900	$95,000	$385,000	115

*DOM = Days On Market

10 Wallingford PA homes went under contract

8 new listings came onto the market

No listings expired

No listings were withdrawn from the market

54 homes are Under Contract at this time

6 Wallingford PA homes sold last week

Wallingford Homes Sold May 1, 2017 To May 7, 2017

ADDRESS	BED	BATH	PRICE	SETTLED	DOM*
20 Brookside Road	3	3.1	$570,000	05/01/17	12
313 Henry Lane	4	2.0	$365,000	05/01/17	7
621 Manchester Avenue	3	1.1	$228,000	05/02/17	221
700 Avondale Road #7H	1	1.0	$85,000	05/04/17	71
3 Meadow Lane	4	2.1	$415,000	05/05/17	289
708 Devon Lane	4	2.1	$250,000	05/05/17	2
Average			$318,833		100

Two homes sold with a Seller Assist

– 313 Henry Lane – $15,700

– 3 Meadow Lane – $7,000

Wallingford PA Real Estate – Wallingford, PA 19086

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

There are 79 homes listed for sale in Wallingford PA and Nether Providence Township on May 2, 2017 with an average asking price of $364,714.

Homeowners who sold in the first quarter realized an average price gain of $44,000 since purchase. That represents an average 24% return on the purchase price, which is the highest average price gain for home sellers in terms of both dollars and percent returns since the third quarter of 2007, according to ATTOM Data Solutions’ First Quarter 2017 U.S. Home Sales Report.

Wallingford Market Snapshot – 79 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$364,714	$349,900	$95,000	$1,025,000	80

Single/Twin Market Snapshot – 61 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$422,726	$389,900	$134,900	$1,025,000	69

Townhouse/Condo Market Snapshot – 18 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$168,115	$119,950	$95,000	$385,000	114

*DOM = Days On Market

5 Wallingford PA homes went under contract

3 new listings came onto the market

2 listings expired

1 listing was withdrawn from the market

53 homes are Under Contract at this time

5 Wallingford PA homes sold last week

Wallingford Homes Sold April 24, 2017 To April 30, 2017

ADDRESS	BED	BATH	PRICE	SETTLED	DOM*
1384 Putnam Blvd	2	2.1	$175,810	04/26/17	39
200 Hillsboro Mills Lane	3	3.1	$415,000	04/26/17	18
503 Springhaven Road	5	3.0	$570,000	04/27/17	26
402 Christian Lane	4	2.1	$465,000	04/27/17	9
408 Hawthorne Road	4	2.2	$370,000	04/28/17	4
Average			$399,162		19

Two homes sold with a Seller Assist

– 1384 Putnam Blvd – $5,274

– 408 Hawthorne Road – $11,000

Wallingford PA Real Estate – Wallingford, PA 19086

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

There are 79 homes listed for sale in Wallingford PA and Nether Providence Township on April 25, 2017 with an average asking price of $357,797.

The inventory squeeze is leaving buyers with fewer options then they have seen in decades.

The inventory of homes for sale decreased by 6.6% at the end of March compared to a year ago, according to the National Association of REALTORS®. Unsold housing inventory is at a 3.8 month supply. Most economists consider a balanced market to be a five to six month supply. Forty-eight percent of homes in March sold in less than a month.

To better compete, buyers are dropping contingencies and offering more cash down. Real estate professionals also are bracing their clients for potential appraisal issues because in hot markets, homes may appraise below the bid-up sale price.

Locally in Wallingford there is an even tighter level of inventory with a 2.7 month supply.

Wallingford Market Snapshot – 79 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$357,797	$319,000	$95,000	$1,025,000	81

Single/Twin Market Snapshot – 60 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$417,140	$392,950	$99,900	$1,025,000	71

Townhouse/Condo Market Snapshot – 19 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$170,398	$119,900	$95,000	$385,000	114

*DOM = Days On Market

10 Wallingford PA homes went under contract

7 new listings came onto the market

No listings expired

No listings were withdrawn from the market

53 homes are Under Contract at this time

3 Wallingford PA homes sold last week

Wallingford Homes Sold April 17, 2017 To April 23, 2017

ADDRESS	BED	BATH	PRICE	SETTLED	DOM*
404 Dewey Lane	4	3.1	$727,000	04/17/17	8
31 Willow Road	3	1.1	$219,900	04/19/17	70
832B Putnam Blvd	2	1.0	$103,000	04/21/17	28
Average			$349,967		35

31 Willow Road sold with a $9,900 Seller Assist

832B was a Bank Owned Foreclosure

Wallingford PA Real Estate – Wallingford, PA 19086