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

There are 18 homes listed for sale – 10 Active listings and 8 Active Under Contract listings – in Wallingford PA and Nether Providence Township on October 31, 2023 with an average asking price of $549,250.

In some further bad news for the housing market on October 26, 2023 the 30-year fixed mortgage interest rate surpassed the historical average since 1971 of 7.74%. The rate now sits at 7.79%, up from 7.63% last week

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Wallingford Market Snapshot – 18 Listings
10 – Active  8- Active Under Contract

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$549,250	$497,500	$180,000	$1,300,000	41

Single Home Market Snapshot – 10 Listings
7 – Active   3 – Active Under Contract

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$670,770	$514,950	$439,000	$1,300,000	47

Twin Home Market Snapshot – 2 Listings
No Active    2 – Active Under Contract

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$392,400	$392,400	$359,900	$424,900	61

Townhouse Market Snapshot – 6 Listings
3 -Active   3 – Active Under Contract

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$399,000	$447,500	$180,000	$550,000	24

4 Wallingford PA homes went under contract

2 new listings came onto the market

No listings were withdrawn from the market

1 listing was temporarily taken off the market

No listings expired

22 homes are Under Contract at this time

2 Wallingford PA home sold last week

Wallingford Homes Sold October 23, 2023 To October 29, 2023

ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
1144 Putnam Blvd	TOWN	3	2.1	$305,000	10/23/23	5
512 South Media Way	TOWN	2	2.0	$370,000	1/26/23	6
AVERAGE				$337,500	$337,500	6

Wallingford PA Real Estate – Wallingford, PA 19086

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

There are 20 homes listed for sale – 13 Active listings and 7 Active Under Contract listings – in Wallingford PA and Nether Providence Township on October 24, 2023 with an average asking price of $515,020.

At the national level, housing affordability fell in August compared to the previous month, according to NAR’s Housing Affordability Index. The monthly mortgage payment increased by 2.9% compared to the prior month, while the median price of single-family homes declined modestly by 0.8%. The monthly mortgage payment increased by $63 from last month.

Compared to one year ago, affordability fell in August as the monthly mortgage payment climbed 26.2% and median family income rose 4.7%. The effective 30-year fixed mortgage rate was 7.15% this August compared to 5.29% one year ago. Nationally, mortgage rates were up 186 basis points from one year ago (one percentage point equals 100 basis points). Mortgage rates moved above 7% for the first time since July 2001. The median existing-home sales price rose 3.6% from ($416,000) one year ago ($401,500).

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Wallingford Market Snapshot – 20 Listings
13 – Active  7- Active Under Contract

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$515,020	$470,000	$180,000	$1,300,000	39

Single Home Market Snapshot – 11 Listings
9 – Active   2 – Active Under Contract

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$625,154	$500,000	$319,000	$1,300,000	45

Twin Home Market Snapshot – 3 Listings
1 -Active    2 – Active Under Contract

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$403,223	$424,900	$359,900	$424,900	51

Townhouse Market Snapshot – 6 Listings
3 -Active   3 – Active Under Contract

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$369,000	$370,000	$180,000	$550,000	21

1 Wallingford PA home 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

No listings expired

19 homes are Under Contract at this time

No Wallingford PA home sold last week

Wallingford Homes Sold October 16, 2023 To October 22, 2023

ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
– No Homes Sold –
AVERAGE

Wallingford PA Real Estate – Wallingford, PA 19086

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

There are 19 homes listed for sale – 13 Active listings and 6 Active Under Contract listings – in Wallingford PA and Nether Providence Township on October 17, 2023 with an average asking price of $503,763.

For the fifth consecutive week, mortgage rates pushed upward, hammering home buyers’ budgets. The 30-year fixed-rate mortgage averaged 7.57% this week, Freddie Mac reports.

Mortgage applications for home purchases are now at a 30-year low. Applications are nearly 20% lower than a year ago. Home buyers are being forced to revisit what they can afford as surging financing costs and rising home prices force some to hold off on their purchase plans. 

This week’s rate average of 7.57% equates to a monthly mortgage payment of $2,253 on a median-priced $400,000 home, says Jessica Lautz, deputy chief economist at the National Association of REALTORS®. Once mortgage rates eventually drop—which NAR is largely predicting will happen sometime next year- “substantial pent-up demand” in the housing market will be unleashed, she adds.

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Wallingford Market Snapshot – 19 Listings
13 – Active  6- Active Under Contract

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$503,763	$445,000	$180,000	$1,300,000	39

Single Home Market Snapshot – 10 Listings
9 – Active   1 – Active Under Contract

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$614,780	$499,950	$439,000	$1,300,000	49

Twin Home Market Snapshot – 3 Listings
1 -Active    2 – Active Under Contract

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$403,223	$424,900	$359,900	$424,900	48

Townhouse Market Snapshot – 6 Listings
3 -Active   3 – Active Under Contract

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$369,000	$370,000	$180,000	$550,000	18

7 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

No listings expired

19 homes are Under Contract at this time

3 Wallingford PA home sold last week

Wallingford Homes Sold October 9, 2023 To October 15, 2023

ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
945 Putnam Blvd	TOWN	3	2.1	$345,000	10/10/23	2
240 Canterbury Drive	SNG	4	2.1	$555,900	10/10/23	14
25 Chester Road	SNG	3	2.0	$400,000	10/10/23	4
AVERAGE				$433,633		7

25 Chester Road sold with a $1,425 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 21 homes listed for sale – 16 Active listings and 5 Active Under Contract listings – in Wallingford PA and Nether Providence Township on October 10, 2023 with an average asking price of $494,738.

The 30-year fixed mortgage interest rate now sits at 7.49%, up from 7.31% last week. For buyers who are purchasing the median priced existing-home of $407,100, this is a monthly mortgage payment of $2,275.

As mortgage interest rates continue to sit at a 23-year high, it is striking to consider a home buyer who purchased in January 2021, when rates were 2.65%. The same home buyer who purchased at $400,000 at that time would pay $1,289 a month for a mortgage, compared to a buyer purchasing today paying $2,235 a month. The difference of $946 could be used for utilities, food, commuting expenses, student debt payments, and for many households the sum total of all expenses.

It is hard to imagine a seller making a move today unless they had a compelling reason to, such as a new significantly higher paid job across the country, a divorce or death, or paying in cash for their next home. For all other households, carpools and remodeling may be the alternative solutions.

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Wallingford Market Snapshot – 21 Listings
16 – Active  5- Active Under Contract

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$494,738	$499,000	$180,000	$1,300,000	36

Single Home Market Snapshot – 11 Listings
10 – Active   1 – Active Under Contract

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$615,073	$500,000	$445,000	$1,300,000	48

Twin Home Market Snapshot – 3 Listings
2 -Active    1 – Active Under Contract

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$403,223	$424,900	$359,900	$424,900	45

Townhouse Market Snapshot – 6 Listings
4 -Active    2 – Active Under Contract

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$369,000	$370,000	$180,000	$550,000	14

Condo Market Snapshot – 1 Listing
No Active    1 – Active Under Contract

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$200,000	$200,000	$200,000	$200,000	3

6 Wallingford PA homes went under contract

5 new listings came onto the market

1 listing was withdrawn from the market

No listings were temporarily taken off the market

No listings expired

18 homes are Under Contract at this time

1 Wallingford PA home sold last week

Wallingford Homes Sold October 2, 2023 To October 8, 2023

ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
100 Sycamore Lane	SNG	4	3.1	$1,300,000	10/06/23	17
AVERAGE				$1,300,000		17

Wallingford PA Real Estate – Wallingford, PA 19086

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

There are 24 homes listed for sale – 18 Active listings and 6 Active Under Contract listings – in Wallingford PA and Nether Providence Township on October 4, 2023 with an average asking price of $530,308.

“Mortgage rates have been rising above 7% since August, which has diminished the pool of home buyers,” said Lawrence Yun, NAR chief economist. “Some would-be home buyers are taking a pause and readjusting their expectations about the location and type of home to better fit their budgets.

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Wallingford Market Snapshot – 24 Listings
18 – Active  6- Active Under Contract

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$530,308	$499,000	$180,000	$1,450,000	34

Single Home Market Snapshot – 13 Listings
11 – Active   2 – Active Under Contract

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$680,669	$529,900	$445,000	$1,450,000	38

Twin Home Market Snapshot – 3 Listings
2 -Active    1 – Active Under Contract

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$403,223	$424,900	$359,900	$424,900	41

Townhouse Market Snapshot – 7 Listings
5 -Active    2 – Active Under Contract

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$352,714	$370,000	$180,000	$550,000	27

Condo Market Snapshot – 1 Listing
No Active    1 – Active Under Contract

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$200,000	$200,000	$200,000	$200,000	3

7 Wallingford PA homes went under contract

9 new listings came onto the market

3 listings were withdrawn from the market

No listings were temporarily taken off the market

No listings expired

12 homes are Under Contract at this time

8 Wallingford PA homes sold 

Wallingford Homes Sold September 11, 2023 To October 1, 2023

ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
113 Westminster Drive	SNG	4	3.0	$575,000	09/12/23	5
705 Madison Court	SNG	2	1.0	$190,000	09/13/23	5
800 Avondale Road #3P	CONDO	1	1.0	$170,000	09/15/23	5
12 Oak Knoll Drive	SNG	4	2.1	$645,000	09/15/23	4
609 Ryanard Road	SNG	3	2.0	$370,000	09/21/23	30
905 Heathdale Lane	SNG	4	3.0	$750,000	09/28/23	8
205 Chestnut Parkway	SNG	3	2.0	$283,000	09/29/23	43
6-9 Chestnut Parkway	SNG	6	2.1	$750,000	09/29/23	355
AVERAGE				$466,625		57

Four homes sold with a Seller Assist

– 113 Westminster Drive – $1,500

– 705 Madison Court – $5,500

– 12 Oak Knoll Drive – $5,000

– 609 Ryanard Road – $6,000

Wallingford PA Real Estate – Wallingford, PA 19086