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

There are 19homes listed for sale – 11 Active listings and 8 Active Under Contract listings – in Wallingford PA and Nether Providence Township on October 19, 2021 with an average asking price of $502,272.

Where have all the starter homes gone? The heart of the problem is the near disappearance of the classic American starter home – the smaller, more affordable, entry-level abodes that have long been the sweet spot of first-time buyers. Homes that would seem to fit the bill, at least in terms of size and amenities, are often now listed at wildly prohibitive price points, even in a time marked by record-low mortgage rates.

It has ushered in an era of high stress and unprecedented challenge for first-time buyers, eager to jump into their initial real estate purchase.

In stark terms, the problem is that there simply aren’t enough entry-level homes to go around—and their numbers are shrinking. While there is a severe housing shortage overall, the supply of starter homes has been slashed by more than half in the past five years, according to Realtor.com® listing data.

So what’s going on? And when will it get better? The Realtor.com data team decided to take a deeper look at what’s leading to the disappearance of these homes across the nation, and what areas of the U.S. are hardest hit.

While there is no single definition of a starter home, it is generally considered to be less than 2,000 square feet with a lower price tag that makes it available to traditionally cash-strapped, first-time buyers. For this analysis, our data team looked at any home (including single-family homes, condos, and townhomes) under 1,850 square feet.

There were only 300,000 starter homes on the market in September. The roughly 72 million millennials, aged 25 to 40, make up more than a third of house hunters scouring the market right now. This unprecedented demand, exacerbated by the COVID-19 pandemic and dwindling supply, is driving up prices, pushing starter homes further out of reach.

View all Nether Providence Twp Homes For Sale

View all Homes Listed In The Last 7 Days

Wallingford Market Snapshot – 19 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$506,388	$500,000	$170,000	$1,150,000	39

Single Home Market Snapshot – 14 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$669,663	$551,950	$385,000	$1,150,000	43

Townhouse Market Snapshot – 1 Listing

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$285,000	$285,000	$285,000	$285,000	5

Twin Home Market Snapshot – 4 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$211,225	$217,450	$170,000	$239,999	36

4 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

1 listing expired

47 homes are Under Contract at this time

7 Wallingford PA homes sold last week

Wallingford Homes Sold October 11, 2021 To October 17, 2021

ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
220 Stanford Drive	SNG	4	2.1	$475,000	10/12/21	4
2 Arthur Court	SNG	3	3.0	$585,000	10/14/21	13
101 Beech Road	SNG	3	1.1	$340,000	10/14/21	7
704 Scott Lane	SNG	3	1.1	$351,000	10/14/21	75
848A Putnam Blvd	CONDO	2	1.0	$165,000	10/15/21	4
1007 Putnam Blvd	TOWN	2	2.1	$228,000	10/15/21	11
824 Meredith Drive	SNG	4	3.1	$775,000	10/15/21	7
AVERAGE				$417,000		17

2 homes sold with a Seller Assist:

– 220 Stanford Drive – $7,450

– 704 Scott Lane – $2,700

Wallingford PA Real Estate – Wallingford, PA 19086

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

There are 22 homes listed for sale – 16 Active listings and 7 Active Under Contract listings – in Wallingford PA and Nether Providence Township on October 12, 2021 with an average asking price of $502,272.

Most buyers would prefer to stay within their budget and live in a fixer-upper.

According to OpenDoor, 57% of homebuyers said they’d spend within their means for their home without going over, while 43% said they would overbid for a more updated property. However, finding that property has generally been a frustrating experience for buyers, as low inventory impacts their plans. Fifty-seven percent of buyers said they spend more time on real estate apps or looking at houses online than they do on social media.

Unsurprisingly, buyers said they are facing hurdles in their process. So much so, that 38% of potential buyers said they have paused their homebuying search. Nearly 40% cited uncertainty around COVID-19 for their pause, while 35% said the market is intimidating and 24% said there are simply not enough homes on the market. Yet, 22% said they have lost out on several bidding wars, perhaps leaving them burned out.

For those buyers still in the game, they also have concerns. Forty-one percent said they are worried about finding a home in their budget, 38% are worried about overpaying for a home and 37% are concerned about finding the right neighborhood. Even with record low mortgage rates, 30% are afraid they will go up before they can find their next home.

Regardless, buyers also have priorities on what they want in their home. Zillennials, defined as those born between 1993 and 1998, are most likely to want a large backyard, while baby boomers are seeking a modern kitchen. Millennials and Generation X are most likely to want environmentally-friendly features.

View all Nether Providence Twp Homes For Sale

View all Homes Listed In The Last 7 Days

Wallingford Market Snapshot – 22 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$502,272	$487,000	$170,000	$1,150,000	36

Single Home Market Snapshot – 14 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$669,663	$551,950	$385,000	$1,150,000	43

Townhouse Market Snapshot – 4 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$312,450	$267,450	$239,900	$475,000	14

Twin Home Market Snapshot – 4 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$211,225	$217,450	$170,000	$239,999	36

4 Wallingford PA homes went under contract 

3 new listings came onto the market 

No listings were withdrawn from the market

1 listing was temporarily taken off the market

No listings expired

48 homes are Under Contract at this time

3 Wallingford PA homes sold last week

Wallingford Homes Sold October 4, 2021 To October 10, 2021

ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
344 Saybrook Lane	CONDO	2	1.0	$140,000	10/05/21	4
738B Putnam Blvd	CONDO	2	1.0	$130,000	10/05/21	9
522 Washington Avenue	TWIN	3	1.1	$370,000	10/06/21	15
AVERAGE				$213,333		9

No homes sold with a Seller Assist:

Wallingford PA Real Estate – Wallingford, PA 19086