Clark Kendus – Page 7

Wallingford PA Real Estate – April 1, 2024 To April 7, 2024

April 9, 2024 by admin

A review of recently sold homes in Wallingford PA and current market statistics for buyers and sellers seeking to stayed informed about the market.

There are 16 homes listed for sale – 12 Active listings and 4 Active Under Contract listing – in Wallingford PA and Nether Providence Township on April 9, 2024 with an average asking price of $629,419.

In 2023, $363.3 billion in property taxes were levied on single-family homes, which is an increase of 6.9% from $339.8 billion in 2022 – nearly double the 3.6% growth rate – according to ATTOM’s 2023 Property Tax Analysis Report.

Data provided in the report also indicates that the average tax on single-family homes rose to $4,062 last year, up 4.1%, after jumping 3% in 2022. Additionally, the latest average tax throughout the country resulted in an effective tax rate of 0.87%, the first increase since 2017 – up from 0.83% in 2022.

View all Homes Listed In The Last 7 Days

Wallingford Market Snapshot – 16 Listings
*12 – Active 4 – Active Under Contract*
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$629,419	$627,000	$270,000	$1,549,900	48

Single Home Market Snapshot – 13 Listings
*9 – Active 4- Active Under Contract*
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$698,131	$649,000	$299,999	$1,549,900	55

Condo Market Snapshot – 2 Listings
*2 – Active No Active Under Contract*
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$310,000	$310,000	$270,000	$350,000	28

Townhouse Market Snapshot – 1 Listing
*1 – Active No Active Under Contract*
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$375,000	$375,000	$375,000	$375,000	5

6 Wallingford PA homes went under contract

5 new listings came onto the market

No listings were withdrawn from the market

No listings were temporarily taken off the market

1 listing expired

18 homes are Under Contract at this time

6 Wallingford PA homes sold last week

**Wallingford Homes Sold April 1, 2024 To April 7, 2024**
ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
727 Pine Ridge Road	SNG	3	2.1	$795,000	04/01/24	4
703 Columbus Court	ROW	2	1.0	$130,000	04/03/24	3
404 Laurel Lane	SNG	4	2.1	$643,000	04/04/24	3
860 Parkridge Drive	SNG	4	2.1	$652,000	04/04/24	5
309 W Rose Valley Road	SNG	3	1.0	$375,000	04/05/24	7
112 Dundee Mills Lane	TOWN	4	3.1	$585,000	04/05/24	4
AVERAGE				$530,000		4

Wallingford PA Real Estate – Wallingford, PA 19086

Wallingford PA Real Estate – 1st Quarter 2024

April 4, 2024 by admin

The 1st quarter of 2024 in Wallingford PA saw a total of 26 homes sold, a decrease of 7 homes over last year. Limited inventory this year and stiff buyer competition led to the average sales price increasing 11.3% to $431,116 from last year where it stood at $387,268. To illustrate the extent of how much the market has constricted in 2022 there were 51 homes sold during the first 3 months of the year and during the pandemic year of 2020 there were 54 sales.

A total of $11,313,022 of real estate changed hands during the quarter.

The core category of single family homes recorded 14 sales, down from 18 last year, with an average selling price of $547,921 compared to last year’s average selling price of $495,028 . That $52,893 increase represents a 10.7% increase.

Days On Market averaged 30, decreasing 9 days from last year when it stood at 39.

January recorded 7 sales, February had 12 sales, and 7 homes were sold in March.

The highest priced home sold in the quarter was 701 Hemlock Road which sold in March for $800,000.

**WALLINGFORD – 1ST QUARTER 2023 VS 1ST QUARTER 2024**
	SALES	AVERAGE	DOM*	% ORIG LIST	% LAST LIST
2023	33	$387,268	39	98.2%	98.7%
2024	26	$431,116	30	98.4%	100.6%
	-21.2%	11.3%	-23.1%	0.2%	1.9%

1ST QUARTER 2024 – SALES BY PRICE RANGE

PRICE RANGE	SALES	% Of SALES
$100,000 To $200,000	1	3.8%
$200,000 To $300,000	5	19.2%
$300,000 To $400,000	8	30.8%
$400,000 To $500,000	2	7.7%
$500,000 To $600,000	4	15.4%
$600,000 To $700,000	4	15.4%
$700,000 To $800,000	1	3.8%
$800,000 To $900,000	1	3.8%
TOTAL	26

**Single Family Homes Sold – 1st Quarter 2024 – 14 Listings**
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$547,921	$545,000	$350,000	$800,000	28

**Townhouses Sold – 1st Quarter 2024 – 8 Listings**
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$311,450	$295,500	$215,000	$535,000	33

**Condominiums Sold – 1st Quarter 2024 – 2 Listings**
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$224,000	$224,000	$168,000	$280,000	5

**Twin Homes Sold – 1st Quarter 2024 – 2 Listings**
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$352,500	$352,500	$315,000	$3490,000	59

Wallingford PA Real Estate – Wallingford, PA 19086

Wallingford PA Real Estate – March 25, 2024 To March 31, 2024

April 2, 2024 by admin

A review of recently sold homes in Wallingford PA and current market statistics for buyers and sellers seeking to stayed informed about the market.

There are 13 homes listed for sale – 11 Active listings and 2 Active Under Contract listing – in Wallingford PA and Nether Providence Township on April 2, 2024 with an average asking price of $583,477.

The housing market in 2023 was brutal. Mortgage approvals and home sales hit a 30-year low as mortgage rates soared and housing inventory dwindled. But according to new data from ICE Mortgage Technology, a record number of first-time homebuyers took out conventional loans last year despite the slowdown.

Recent data on agency mortgage-backed security (MBS) issuance reveals that first-time homebuyers (FTHBs) took out 55% of all agency purchase mortgages last year. That’s the highest share in a decade.

In all, just 4.3 million mortgages were originated in 2023, according to ICE’s March 2024 Mortgage Monitor Report.

Additionally, the existing-home sales, which account for most home sales, fell 19% in 2023 from the previous year to 4.09 million, according to the National Association of REALTORS®.

View all Homes Listed In The Last 7 Days

Wallingford Market Snapshot – 13 Listings
*11 – Active 2 – Active Under Contract*
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$583,477	$629,000	$199,000	$1,574,900	54

Single Home Market Snapshot – 9 Listings
*7 – Active 2- Active Under Contract*
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$727,522	$649,900	$299,999	$1,574,900	73

Condo Market Snapshot – 4 Listings
*4 – Active No Active Under Contract*
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$259,375	$244,250	$199,000	$350,000	11

2 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

17 homes are Under Contract at this time

No Wallingford PA homes sold last week

**Wallingford Homes Sold March 25, 2024 To March 31, 2024**
ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
– No Homes Sold –
AVERAGE

Wallingford PA Real Estate – Wallingford, PA 19086

Wallingford PA Real Estate – March 2024

April 1, 2024 by admin

Spring In Bloom At The Taylor Arboretum

March 2024 saw quite another decrease in activity compared to last year. Six homes sold in Wallingford PA during March 2024, compared to 15 closed transactions last March. However the average selling price climbed 38.3% compared to last year rising to $466,833.

Three single family homes sold for an average price of $693,333 during the month and averaged 40 Days On the Market. Last March 6 single family homes sold for an average price of $425,000 and spent an average of 59 Days On the Market.

701 Hemlock Road had the highest selling price for the month at $800,000.

Buyers signed contracts for 9 single family homes, 2 townhomes, 1 twin, and 1 condo with an average asking price of $521,869 and an average of 10 Days On the Market.

Future settlements – 13 in April, 2 in May, and 1 in November.

At close of the 1st quarter of 2024 a total of 25 homes have sold falling short of last year’s 1st quarter by 8 homes. The average sales price has increased to $437,521 from last year when it stood at $387,268, representing a 13.0% increase.

**Wallingford PA Closed Transactions March 2024**
ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
303 Rose Valley Road	SNG	4	2.1	$675,000	03/01/24	57
1004 Putnam Blvd	TOWN	2	2.1	$301,000	03/06/24	5
430 Vernon Street	TOWN	3	1.0	$252,000	03/11/24	47
800 Avondale Road #2N	CONDO	1	1.0	$168,000	03/13/24	5
303 Highland Avenue	SNG	3	2.0	$605,000	03/15/24	5
701 Hemlock Road	SNG	4	3.0	$800,000	03/15/24	59
AVERAGE				$466,833		30

* DOM = Days On Market

430 Vernon Street sold with a $6,300 Seller Assist:

Financing Methods

– Cash – 3 transactions

– Conventional Mortgage – 2 transactions

– FHA Mortgage – 1 transaction

**WALLINGFORD SINGLE HOMES – MARCH 2024 – 3 SALES**
Avg Price	Median Price	Low	High	DOM*
$693,333	$675,000	$605,000	$800,000	40

**WALLINGFORD TOWNHOMES – MARCH 2024 – 2 SALES**
Avg Price	Median Price	Low	High	DOM*
$276,500	$276,500	$252,000	$301,000	26

**WALLINGFORD CONDOS- MARCH 2024 – 1 SALE**
Avg Price	Median Price	Low	High	DOM*
$168,000	$168,000	$168,000	$168,000	5

**WALLINGFORD – MARCH 2023 VS MARCH 2024**
	SALES	AVERAGE	DOM*	% ORIG LIST	% LAST LIST
2023	15	$337,457	43	100.1%	98.6%
2024	6	$466,833	30	100.8%	103.0%
	-60.0%	38.3%	-16.3%	0.7%	4.4%

Wallingford PA Real Estate – Wallingford, PA 19086

Wallingford PA Real Estate – March 18, 2024 To March 24, 2024

March 26, 2024 by admin

A review of recently sold homes in Wallingford PA and current market statistics for buyers and sellers seeking to stayed informed about the market.

There are 9 homes listed for sale – 8 Active listings and 1 Active Under Contract listing – in Wallingford PA and Nether Providence Township on March 26, 2024 with an average asking price of $561,255.

Inflation and home prices: two large barriers for Americans in living their dream lives. While they both are very present issues, one has had a much stronger impact due to its drastic growth rate. Home prices have risen 2.4x faster than inflation since the 1960s, according to a new analysis from Clever Real Estate.

The report found that if home prices had matched pace with inflation, the median home would cost only $177,500 today – compared to the $431,000 it actually costs.

Key highlights from the study:

The median home price increased 63% from 2013 to 2023, while overall inflation rose 31%.
Home prices today are 24x higher than they were in 1963, while inflation is only 10x higher.
Despite home prices having historically risen faster than inflation, inflation actually outpaced home prices in 2023.
Millennials pay nearly twice as much as baby boomers did for homes in 1985. Today, the typical home cost is equivalent to about 6.3 years’ worth of median household income, compared to 3.5 years in the mid-1980s.

View all Homes Listed In The Last 7 Days

Wallingford Market Snapshot – 9 Listings
*8 – Active 1 – Active Under Contract*
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$561,255	$649,000	$278,500	$795,000	70

Single Home Market Snapshot – 7 Listings
*6 – Active 1 – Active Under Contract*
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$631,828	$649,900	$299,999	$795,000	86

Condo Market Snapshot – 2 Listings
*2 – Active No Active Under Contract*
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$314,250	$314,250	$278,500	$350,000	14

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

17 homes are Under Contract at this time

No Wallingford PA homes sold last week

**Wallingford Homes Sold March 18, 2024 To March 24, 2024**
ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
– No Homes Sold –
AVERAGE

Wallingford PA Real Estate – Wallingford, PA 19086

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S. Clark Kendus