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

There are 16 homes listed for sale – 13 Active listings and 3 Active Under Contract listings – in Wallingford PA and Nether Providence Township on March 9, 2021 with an average asking price of $561,644.

In Denver, real estate pros are reporting that some listings are seeing more than 100 showings in one weekend and are then receiving more than 20 offers. Buyers are being told to expect going 20% above the list price if they want a home. Markets across the country are reporting the same.

The spring home buying season is expected to be fierce for house hunters.

Here’s the reason: More than 200,000 new listings have been absent from the U.S. housing market during the first two months of 2021 compared to levels seen over the last four years. Buyer demand is surging and there aren’t enough homes for sale. Inventory woes were common in markets even prior to the pandemic, but they’ve worsened since.

There are nearly 50% fewer homes for sale this year than last year, according to realtor.com®’s newly released Monthly Housing Trends Report.

In the Philadelphia Metro area there are 46.0% fewer homes on the market than this time last year, and in Wallingford there were 28 homes listed during the first week of March 2020, now there are just 16 – a 43.0% drop.

Extreme winter weather nationwide pushed new listings to a record low in February, and realtor.com® warns it will be difficult to dig out from the low number of sales this spring.

What’s more, home buyers are seeing prices quickly rise. The median listing price in February increased nearly 14% over last year to $353,000.

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Wallingford Market Snapshot – 16 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$561,644	$397,450	$179,900	$1,069,000	39

Single Home Market Snapshot – 11 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$640,618	$600,000	$214,500	$1,069,000	44

Condo Market Snapshot – 2 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$217,400	$217,400	$179,900	$254,900	11

Townhouse Market Snapshot – 3 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$394,900	$399,900	$329,900	$454,900	40

*DOM =  Days On Market

6 Wallingford PA homes went under contract 

3 new listings came onto the market 

No listings were withdrawn from the market

No listings were temporarily taken off the market

2 listings expired

20 homes are Under Contract at this time

3 Wallingford PA homes sold last week

Wallingford Homes Sold March 1, 2021 To March 7, 2021

ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
401 Crumwald Lane	SNG	5	4.1	$850,000	03/01/21	11
71 Fairhill Road	SNG	3	1.1	$420,500	03/04/21	121
27 Willow Road	SNG	3	2.0	$285,000	03/05/21	14
AVERAGE				$518,500		49

2 homes sold with a Seller Assist:

– 401 Crumwald Lane – $6,225

– 27 Willow Road – $5,000

Wallingford PA Real Estate – Wallingford, PA 19086

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

There are 13 homes listed for sale – 12 Active listings and 1 Active Under Contract listings – in Wallingford PA and Nether Providence Township on March 3, 2021 with an average asking price of $527,388.

The 30-year fixed-rate mortgage came off its recent all-time lows to average near 3% this week. The 10-year Treasury yield, which mortgage rates closely follow, hit its highest level in the past year, prompting the increase in rates.

Rates continue to remain near historic lows, said Sam Khater, Freddie Mac’s chief economist. The all-time low for the 30-year fixed-rate mortgage was set in January, averaging 2.65%.

Freddie Mac reports the following national averages with mortgage rates for the week ending Feb. 25:

• 30-year fixed-rate mortgages: averaged 2.97%, with an average 0.6 point, up from last week’s 2.81% average. Last year at this time, 30-year rates averaged 3.45%.
• 15-year fixed-rate mortgages: averaged 2.34%, with an average 0.6 point, rising from last week’s 2.21% average. A year ago, 15-year rates averaged 2.95%.
• 5-year hybrid adjustable-rate mortgages: averaged 2.99%, with an average 0.1 point, rising from last week’s 2.77% average. A year ago, 5-year ARMs averaged 3.20%.

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Wallingford Market Snapshot – 13 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$527,388	$399,900	$137,900	$1,069,000	28

Single Home Market Snapshot – 8 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$694,113	$774,700	$214,500	$1,069,000	31

Condo Market Snapshot – 3 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$190,900	$179,900	$137,900	$254,900	3

Townhouse Market Snapshot – 2 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$364,900	$364,900	$329,900	$399,900	52

2 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

14 homes are Under Contract at this time

2 Wallingford PA homes sold last week

Wallingford Homes Sold February 22, 2021 To February 28, 2021

ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
616 Morris Lane	SNG	4	2.0	$489,000	02/23/21	6
715 Pennsylvania Avenue	SNG	3	1.1	$115,000	02/23/21	22
AVERAGE				$302,000		14

Wallingford PA Real Estate – Wallingford, PA 19086

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

There are 9 homes listed for sale – 7 Active listings and 2 Active Under Contract listings – in Wallingford PA and Nether Providence Township on February 16, 2021 with an average asking price of $530,463.

The average purchase loan amount has reached a new record high: $402,200, the Mortgage Bankers Association reported Wednesday. The higher-priced segment of the housing market continues to perform strongly, the MBA says.

Mortgage amounts have been climbing to new record highs since April 2020, near the start of the COVID-19 pandemic.

Mortgage applications for home purchases were up 17% last week over last year, the MBA reports.

Home buyers are borrowing more as home prices rise by double-digit percentages over the past year. Also, mortgage interest rates have been hovering near record lows. “Since interest rates are lower, monthly payments are lower – even with higher loan balances,” says The Ascent, a Motley Fool financial publication. “This makes it easier for would-be borrowers to get approved for bigger loans.”

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Wallingford Market Snapshot – 8 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$530,463	$502,000	$240,000	$929,000	49

Single Home Market Snapshot – 6 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$612,300	$577,450	$345,000	$895,000	50

Townhouse Market Snapshot – 2 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$284,950	$284,950	$240,000	$329,900	47

3 Wallingford PA homes 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

13 homes are Under Contract at this time

5 Wallingford PA homes sold last week

Wallingford Homes Sold February 8, 2021 To February 14, 2021

ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
800 Avondale Road #6G	CONDO	2	2.0	$135,500	02/09/21	1
17 Kershaw Road	SNG	3	3.0	$920,000	02/09/21	107
216 Highland Avenue	SNG	6	4.1	$500,000	02/11/21	290
208 Emerald Lane	TWIN	3	1.1	$325,000	02/12/21	9
719 Pennsylvania Avenue	TWIN	2	1.0	$65,000	02/12/21	28
AVERAGE				$399,100		87

17 Kershaw Road sold with a $9,000 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 6 homes listed for sale – just 3 Active listings and 3 Active Under Contract listings – in Wallingford PA and Nether Providence Township on February 9, 2021 with an average asking price of $503,800.

Housing appreciation has grown over the last few months with the surging real estate market. Thirty percent – nearly one in three – of homes with a mortgage in the U.S. are now considered “equity-rich,” according to a new report from ATTOM Data Solutions, a real estate research firm.

A home being equity-rich means that the combined estimated amount of loans secured by the property is 50% or less of the estimated market value. In short, it means homeowners themselves have accumulated at least half of the equity in their homes.

ATTOM’s fourth-quarter 2020 U.S. Home Equity & Underwater Report shows that 17.8 million residential properties in the U.S. were considered equity-rich.

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Wallingford Market Snapshot – 6 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$503,800	$379,450	$240,000	$895,000	60

Single Home Market Snapshot – 4 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$613,225	$639,450	$279,000	$895,000	69

Townhouse Market Snapshot – 2 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$284,950	$284,950	$240,000	$329,900	44

1 Wallingford PA home went under contract 

No new listings came onto the market 

1 listing was withdrawn from the market

1 listing was temporarily taken off the market

No listings expired

16 homes are Under Contract at this time

2 Wallingford PA homes sold last week

Wallingford Homes Sold February 1, 2021 To February 7, 2021

ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
504 Vernon Street	TWIN	3	2.1	$395,000	02/03/21	13
100 Westminster Drive	SNG	3	2.1	$393,000	02/04/21	11
AVERAGE				$394,000		12

Neither home sold with a Seller Assist

Wallingford PA Real Estate – Wallingford, PA 19086