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

There are 43 homes listed for sale in Wallingford PA and Nether Providence Township on June 30, 2020 with an average asking price of $413,705.

The pandemic has caused more Americans to rethink where they want to call home. In many regions, suburban and rural areas are seeing stronger recoveries from the pandemic than their nearby urban areas, according to a new report from realtor.com®.

In May, online listing views at realtor.com® in suburban ZIP codes rose by 13%, nearly double the pace of growth of urban areas. More than half of the nation’s 100 largest metros are seeing rising interest in the suburbs, realtor.com® reports.

“This migration to the suburbs is not a new trend, but it has become more pronounced this spring,” says Javier Vivas, realtor.com®’s director of economic research. “After several months of shelter-in-place orders, the desire to have more space and the potential for more people to work remotely are likely two of the factors contributing to the popularity of the burbs.”

In recent years, suburban areas have started to outpace urban areas in growth in terms of views per property at realtor.com®. May data marks the second largest gap between suburban and urban views since realtor.com® began tracking such data in 2016. Listing views per property in rural and suburban ZIP codes were up an average of 16 and 13% annually, respectively. Views per property in urban areas, on the other hand, were up 7% year over year.

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Wallingford Market Snapshot – 43 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$413,705	$389,000	$125,000	$1,034,900	55

Single Home Market Snapshot – 30 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$495,807	$454,700	$225,000	$1,034,900	57

Townhouse Market Snapshot – 7 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$282,414	$275,000	$214,000	$389,000	39

Condo Market Snapshot – 4 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$130,850	$129,450	$125,000	$139,500	56

Twin Market Snapshot – 2 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$207,400	$207,400	$129,900	$284,900	76

*DOM = Days On Market

8 Wallingford PA homes went under contract 

6 new listings came onto the market 

No listings were withdrawn from the market

No listings were temporarily taken off the market

No listings expired

19 homes are Under Contract at this time

3 Wallingford PA home sold last week

Wallingford Homes Sold June 22, 2020 To June 28, 2020

ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
503 Media Pkwy	SNG	3	1.0	$223,000	06/22/20	10
800 Avondale Road #4E	CONDO	1	1.0	$70,500	06/23/20	86
626 E Wiltshire Drive	TWIN	3	2.1	$245,000	06/26/20	3
AVERAGE				$179,500		33

503 Media Pkwy sold with a $8,920 Seller Assist

Wallingford PA Real Estate – Wallingford, PA 19086

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

There are 39 homes listed for sale in Wallingford PA and Nether Providence Township on June 23, 2020 with an average asking price of $419,908.

For the third consecutive week, the number of homeowners requiring mortgage relief has dropped, a welcome sign of the market’s long-term health.

As of June, 4.6 million homeowners were in forbearance, which is about 8.7% of all active mortgages, according to data from Black Knight, a mortgage research firm. The numbers have fallen by 57,000 compared to the previous week and by 158,000 from May 22, the date when mortgages in forbearance peaked.

About 6.8% of all mortgages backed by Fannie Mae and Freddie Mac are in forbearance, and 12.1% of all FHA and VA loans. However, loans held by banks or private label securities grew by an alarming 6,000 in June, according to Black Knight.

Borrowers in forbearance are eligible to delay their monthly payments for at least three months and in some cases, for up to a year.

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Wallingford Market Snapshot – 39 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$419,908	$394,900	$125,000	$1,034,900	67

Single Home Market Snapshot – 28 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$495,007	$464,850	$279,000	$1,034,900	71

Townhouse Market Snapshot – 5 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$309,580	$319,000	$229,900	$389,000	50

Condo Market Snapshot – 3 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$135,500	$132,000	$125,000	$149,500	67

Twin Market Snapshot – 2 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$207,400	$207,400	$129,900	$284,900	69

Row Home Market Snapshot – 1 Listing

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$147,000	$147,000	$147,000	$147,000	5

*DOM = Days On Market

4 Wallingford PA homes went under contract 

4 new listings came onto the market 

No listings were withdrawn from the market

No listings were temporarily taken off the market

No listings expired

30 homes are Under Contract at this time

1 Wallingford PA home sold last week

Wallingford Homes Sold June 15, 2020 To June 21, 2020

ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
101 Mulberry Lane	SNG	5	2.1	$870,000	06/19/20	4
AVERAGE				$870,000		4

101 Mulberry Lane sold with a $3,950 Seller Assist

Wallingford PA Real Estate – Wallingford, PA 19086

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

There are 37 homes listed for sale in Wallingford PA and Nether Providence Township on June 16, 2020 with an average asking price of $442,733.

Mortgage applications continued an eight-week streak of gains as home buyers rush back into the housing market. Purchase applications, viewed as a gauge for future home sales, were up 5% last week compared to the previous week.

Despite the pandemic, applications for home purchases are now 13% higher than a year ago, the Mortgage Bankers Association reported Wednesday. “The recovery in the purchase market continues to gain steam, with the seasonally adjusted index rising to its highest level since January,” says Joel Kan, an economist with the Mortgage Bankers Association.

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Wallingford Market Snapshot – 37 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$442,733	$399,000	$125,000	$1,044,900	58

Single Home Market Snapshot – 28 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$500,900	$484,850	$275,000	$1,044,900	61

Townhouse Market Snapshot – 5 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$309,580	$319,000	$229,900	$389,000	47

Condo Market Snapshot – 2 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$137,250	$137,250	$125,000	$149,500	65

Twin Market Snapshot – 2 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$267,500	$267,500	$245,000	$290,000	38

*DOM = Days On Market

4 Wallingford PA homes went under contract 

No new listings came onto the market 

No listings were withdrawn from the market

No listings were temporarily taken off the market

3 listings expired

26 homes are Under Contract at this time

3 Wallingford PA home sold last week

Wallingford Homes Sold June 8, 2020 To June 14, 2020

ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
39 Waterford Way	SNG	5	3.1	$520,000	06/10/20	5
419 Palmers Lane	SNG	4	2.2	$530,000	06/12/20	8
314 Marlyn Lane	SNG	4	3.1	$559,900	06/12/20	1
AVERAGE				$535,633		5

All homes sold with a Seller Assist:

– 39 Waterford Way – $500

– 419 Palmers Lane – $7,650

– 314 Marlyn Lane – $2,500

Wallingford PA Real Estate – Wallingford, PA 19086

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

There are 36 homes listed for sale in Wallingford PA and Nether Providence Township on June 9, 2020 with an average asking price of $433,389.

The 30-year fixed-rate mortgage inched up after reaching an all-time low last week. However, mortgage rates continue to hover near the lowest averages ever recorded by mortgage financing giant Freddie Mac.

The 30-year fixed-rate mortgage averaged 3.18% this week, up slightly from last week’s all-time low of 3.15%.

“While the economy is slowly rebounding, all signs continue to point to a solid recovery in home sales activity heading into the summer as prospective buyers jump back into the market,” says Sam Khater, Freddie Mac’s chief economist. “While home buyer demand is up and has been broad-based across most geographies, supply has been slower to improve. In fact, the gap between supply and demand has widened even further than the large gap that existed prior to the pandemic.”

Freddie Mac reports the following national averages with mortgage rates for the week ending June 4:

• 30-year fixed-rate mortgages: averaged 3.18%, with an average 0.7 point, rising from last week’s 3.15% average. Last year at this time, 30-year rates averaged 3.82%.
• 15-year fixed-rate mortgages: averaged 2.62%, with an average 0.7 point, unchanged from last week. A year ago, 15-year rates averaged 3.28%.
• 5-year hybrid adjustable-rate mortgages: averaged 3.10%, with an average 0.4 point, falling from last week’s 3.13% average. A year ago, 5-year ARMs averaged 3.52%.

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Wallingford Market Snapshot – 36 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$433,389	$396,950	$125,000	$1,044,900	64

Single Home Market Snapshot – 26 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$504,412	$494,950	$275,000	$1,044,900	69

Townhouse Market Snapshot – 5 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$309,580	$319,000	$229,900	$389,000	45

Condo Market Snapshot – 3 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$134,800	$129,900	$125,000	$149,500	59

Twin Market Snapshot – 2 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$267,500	$267,500	$245,000	$290,000	62

*DOM = Days On Market

8 Wallingford PA homes went under contract 

5 new listings came onto the market 

0 listings were withdrawn from the market

1 listing was temporarily taken off the market

1 listing expired

25 homes are Under Contract at this time

1 Wallingford PA home sold last week

Wallingford Homes Sold June 1 2020 To June 7, 2020

ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
310 w Brookhaven Road	SNG	3	1.1	$325,000	06/05/20	3
AVERAGE				$325,000		3

Wallingford PA Real Estate – Wallingford, PA 19086