Wallingford PA Homes Sold

Wallingford PA Real Estate – June 21, 2021 To June 27, 2021

June 29, 2021 by admin

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

There are 22 homes listed for sale – 14 Active listings and 8 Active Under Contract listings – in Wallingford PA and Nether Providence Township on June 29, 2021 with an average asking price of $433,950.

The rate of home price growth has started to slow, and the competition for homes may be showing some signs of easing somewhat.

“The market’s topping out,” Mark Zandi, chief economist at Moody’s Analytics, told realtor.com®. It’s “starting to show cracks. It feels like we’ve hit the apex, and we’re moving to the other side of it.”

But that doesn’t mean the housing market is heading for a bubble that is bound to burst. Mortgage lending has remained tight. Real estate economists have long said the current frenzy in the housing market is no housing bubble that is reminiscent of nearly a decade ago with the run-up in real estate.

Median home asking prices are more than 12% higher than they were a year ago. That is less than the 17.2% annual jump in prices in more recent months, realtor.com® reports.

Some buyers are getting priced out of the market. There is also a severe shortage of homes for sale: Total housing inventory is down 42% year over year, as of last week, according to realtor.com® data. Home sales have fallen from inventory challenges, too. Existing-home sales dropped 0.9% in May month over month, the fourth consecutive month of declines, the National Association of REALTORS® reported last week.

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Wallingford Market Snapshot – 22 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$433,950	$425,000	$145,000	$769,500	27

Single Home Market Snapshot – 15 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$502,280	$525,000	$289,900	$769,500	31

Townhouse Market Snapshot – 2 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$309,900	$309,900	$309,900	$309,900	6

Condo Market Snapshot – 1 Listing
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$297,900	$297,900	$297,900	$297,900	44

Twin Home Market Snapshot – 3 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$316,667	$320,000	$260,000	$370,000	26

Row Home Market Snapshot – 1 Listing
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$145,000	$145,000	$145,000	$145,000	6

*DOM = Days On Market

5 Wallingford PA homes went under contract

6 new listings came onto the market

1 listing was withdrawn from the market

No listings were temporarily taken off the market

No listings expired

49 homes are Under Contract at this time

7 Wallingford PA homes sold last week

**Wallingford Homes Sold June 21, 2021 To June 27, 2021**
ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
407 E Country Club Lane	SNG	3	1.1	$472,000	06/21/21	5
203 S Providence Road	SNG	3	2.0	$375,000	06/21/21	18
214 Emerald Lane	TWIN	3	1.1	$289,900	06/22/21	11
730A Putnam Blvd	CONDO	2	1.0	$170,000	06/23/21	7
300 Melanies Way	SNG	4	4.1	$735,000	06/23/21	8
1324 Putnam Blvd	TOWN	2	2.1	$262,500	06/24/21	6
993 Putnam Blvd	TOWN	2	2.1	$240,000	06/25/21	4
AVERAGE				$453,400		7

203 S Providence Road sold with a $3,000 Seller Assist:

Wallingford PA Real Estate – Wallingford, PA 19086

Wallingford PA Real Estate – June 7, 2021 To June 20, 2021

June 22, 2021 by admin

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

There are 22 homes listed for sale – 13 Active listings and 9 Active Under Contract listings – in Wallingford PA and Nether Providence Township on June 22, 2021 with an average asking price of $415,109.

Skyrocketing home values may make it more difficult for buyers to put 20% down on a home, particularly for first-time home buyers and those finding themselves in intense bidding wars paying above asking price to get the home they want.

A 20% down payment on an entry-level single-family home in the Los Angeles area, for example, could reach levels of from $200,000 to $400,000. And bidding wars are pushing home prices even higher, requiring buyers to bring more funds to closing.

David Rae, a certified financial planner, wrote an article for Forbes.com about how first-time buyers who made a 5% down payment were able to keep bidding on the home, and paid about 33% above the asking price.

“Waiting for a larger down payment could mean missing out on their ideal home or what seems like an ever-increasing home price to base the 20% down payment against,” Rae notes.

But smaller down payments do mean larger mortgage payments, and they could lead to a higher interest rate. A 20% down payment can also help buyers avoid paying private mortgage insurance. But it’s not a requirement to get a mortgage—a myth the real estate market has long tried to dispute.

The average down payment among buyers is 12%, according to the “2021 National Association of REALTORS® Home Buyer and Seller Generational Trends” report. Younger buyer age groups tend to put down the least.

Mortgage rates are at historical low averages, helping to offset higher home prices and allow home buyers to save as they finance their home.

Lenders may have specific down payment requirements to get the best term mortgage interest rate given a buyer’s individual financial picture. But for conventional loans and the Federal Housing Administration, it is possible for a qualified buyer to snag a down payment as low as 3% or 3.5%.

“The reality is you can buy a home without a 20% down payment,” writes Rae for Forbes.com. “If you are just rushing out to buy a house without the ability to save for a down payment, you are asking for trouble. … For those with strong financial habits, stable incomes, and adequate savings, choosing not to put down 20% (or more) may sometimes be a wise choice.

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Wallingford Market Snapshot – 22 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$415,109	$380,000	$205,000	$769,500	25

Single Home Market Snapshot – 15 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$471,313	$499,900	$275,600	$769,500	30

Townhouse Market Snapshot – 2 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$304,900	$304,900	$299,900	$309,900	5

Condo Market Snapshot – 2 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$251,450	$251,450	$205,000	$297,900	20

Twin Home Market Snapshot – 3 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$316,667	$320,000	$260,000	$370,000	22

*DOM = Days On Market

10 Wallingford PA homes went under contract

7 new listings came onto the market

1 listing was withdrawn from the market

No listings were temporarily taken off the market

1 listing expired

51 homes are Under Contract at this time

11 Wallingford PA homes sold

**Wallingford Homes Sold June 7, 2021 To June 20, 2021**
ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
708 Blue Hill Road	SNG	4	2.1	$519,900	06/07/21	6
207 Sykes Lane	SNG	4	2.0	$625,000	06/08/21	4
322B Saybrook Lane	CONDO	2	1.0	$118,000	06/08/21	4
24 Mallard Mill Run	TOWN	3	2.1	$400,000	06/08/21	6
808 Ridge Lane	SNG	4	2.2	$628,500	06/10/21	14
800 Avondale Road #2M	CONDO	1	1.0	$139,000	06/11/21	15
11 Dale Lane	SNG	5	2.1	$650,000	06/11/21	4
701 Blue Hill Road	SNG	5	2.1	$617,000	06/11/21	4
858A Putnam Blvd	CONDO	2	1.0	$145,000	06/15/21	5
1366 Putnam Blvd	TOWN	2	2.1	$240,000	06/15/21	5
6 Kelly Lane	SNG	5	4.1	$905,000	06/15/21	6
AVERAGE				$453,400		7

3 homes sold with a Seller Assist:

– 24 Mallard Mill Run – $1,000

– 701 Blue Hill Road – $1,500

– 1366 Putnam Blvd – $1,000

Wallingford PA Real Estate – Wallingford, PA 19086

Wallingford PA Real Estate – June 1, 2021 To June 6, 2021

June 8, 2021 by admin

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

There are 29 homes listed for sale – 12 Active listings and 17 Active Under Contract listings – in Wallingford PA and Nether Providence Township on June 9, 2021 with an average asking price of $465,014.

The U.S. median home price continued to post double-digit appreciation in May and reached a record high of $380,000, realtor.com® reports. But the rate of price growth has shown signs of slowing for the second time in 13 months (15.2% year-over-year in May compared to 17.2% annually in April), realtor.com®’s Monthly Housing Trends Report shows.

Prices have been rising due to high buyer demand and a lack of inventory. Inventories are less than half the total number of homes for sale on the market compared to a year ago.

“Home buyers looking to lock in still-low mortgage rates face fierce competition for fewer homes for sale than last year’s historic pandemic lows, pushing up the typical asking price in May to an all-time high for the fourth consecutive month,” said Danielle Hale, realtor.com®’s chief economist. “The good news is that price momentum may be beginning to cool off.”

“While still in double-digits, May was the first non-weather related slowing in price appreciation since April 2020,” Hale added. “And with a normal, summer seasonal peak in home prices expected this year, we could see growth fall back to a more normal single-digit pace in the fall.”

Larger metros may post a slowdown sooner than other markets. The largest metros, for example, reported lower annual price gains than the national rate and also had some of the largest numbers of new homes added to the market, realtor.com® reported. The nation’s 50 largest metros had a 12.4% increase in new listings compared to a year ago. The largest gains were in Buffalo, N.Y. (up 64.3%); Philadelphia (up 52.5%); and Washington, D.C. (up 48.9%).

Overall, among the 50 largest U.S. metros, the largest list price increases in May occurred in Austin, Texas (+32.2%); Riverside, Calif. (+21.5%); and Las Vegas (+18.5%).

View all Nether Providence Twp Homes For Sale

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Wallingford Market Snapshot – 29 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$465,014	$475,000	$139,000	$870,000	24

Single Home Market Snapshot – 21 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$531,343	$515,000	$199,500	$870,000	19

Townhouse Market Snapshot – 2 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$309,000	$317,200	$309,000	$324,500	9

Condo Market Snapshot – 1 Listing
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$297,900	$297,900	$297,900	$297,900	23

Twin Home Market Snapshot – 5 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$278,980	$300,000	$139,900	$370,000	15

*DOM = Days On Market

8 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

58 homes are Under Contract at this time

4 Wallingford PA homes sold last week

**Wallingford Homes Sold June 1, 2021 To June 6, 2021**
ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
7 Bullens Lane	SNG	4	2.1	$640,000	06/01/21	6
706 Pine Ridge Road	SNG	4	2.2	$516,000	06/01/21	8
411 Plush Mill Road	SNG	4	2.1	$590,000	06/01/21	212
100 Quaint Road	SNG	4	2.0	$520,000	06/04/21	6
AVERAGE				$566,500		58

1 home sold with a Seller Assist:

– 411 Plush Mill Road – $25,000

Wallingford PA Real Estate – Wallingford, PA 19086

Wallingford PA Real Estate – May 24, 2021 To May 30, 2021

June 1, 2021 by admin

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

There are 28 homes listed for sale – 15 Active listings and 13 Active Under Contract listings – in Wallingford PA and Nether Providence Township on June 1, 2021 with an average asking price of $470,221.

Home sellers are expecting more than list price when they go to sell. And there’s good reason why they believe that: Over half of homes – 51% – are selling for more than the asking price, a record high, according to new research data from the real estate brokerage Redfin. A year ago, 26% of homes were selling for above asking price.

“The fact that homes keep selling for more and more above asking prices goes to show that many more people want a home than there are homes for sale,” says Daryl Fairweather, Redfin’s chief economist. “I don’t see, that changing until mortgage rates increase, which will likely happen later this year. But until then, the housing market will remain red-hot.”

Over the past 30 days 57%, 12 of 21, Wallingford homes have sold for over asking price.

Just how high above asking price must buyers go? With bidding wars common, some buyers are bidding up homes to extremes. In Marin County, Calif., a bidding war for a 1,305-square-foot home with a single bathroom, listed for $1.298 million, fetched 18 offers that pushed the asking price 58% higher to $2.057 million.

More home buyers are waiving appraisals so that the sale doesn’t fall through. In April, 19% of homes had their appraised value come in below the contract price, according to data from CoreLogic. Over the two previous years, 8% of homes were appraised for lower than the contract price

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Wallingford Market Snapshot – 28 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$470,221	$474,950	$139,000	$870,000	31

Single Home Market Snapshot – 21 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$532,552	$515,000	$199,500	$870,000	37

Townhouse Market Snapshot – 1 Listing
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$309,000	$309,000	$309,000	$309,000	1

Condo Market Snapshot – 1 Listing
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$297,900	$297,900	$297,900	$297,900	10

Twin Home Market Snapshot – 5 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$274,960	$300,000	$139,900	$349,900	12

*DOM = Days On Market

7 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

1 listing expired

54 homes are Under Contract at this time

4 Wallingford PA homes sold last week

**Wallingford Homes Sold May 24, 2021 To May 30, 2021**
ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
800 Avondale Road #3J	CONDO	3	2.0	$179,900	05/24/21	53
1000 Putnam Blvd #107	CONDO	2	2.1	$228,000	05/25/21	30
816 Maple Road	TWIN	3	1.1	$265,000	05/27/21	7
603 Rockbourne Mills Court	TOWN	3	2.1	$385,000	05/27/21	29
AVERAGE				$264,475		30

1 home sold with a Seller Assist:

– 816 Maple Road – $1,500

Wallingford PA Real Estate – Wallingford, PA 19086

Wallingford PA Real Estate – May 17, 2021 To May 23, 2021

May 25, 2021 by admin

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

There are 28 homes listed for sale – 17 Active listings and 11 Active Under Contract listings – in Wallingford PA and Nether Providence Township on May 25, 2021 with an average asking price of $481,350.

Homes are selling in record time at an average of 43 days – 20 days fewer than a year ago, according to realtor.com®’s latest Monthly Housing Trends Report. The market is experiencing Intense buyer competition, though inventory opened up slightly in April as more sellers started to list their homes. New listings, however, are still nearly 26% below pre-pandemic levels, the report shows.

In Wallingford the market is even hotter. Of the 38 homes that have settled over the past 3 months they spent an average of just 13 days on the market.

As buyer demand remains high, listing prices soared 17.2% annually to a new high of $375,000, according to realtor.com®. “When compared to pre-pandemic levels, it is very clear we are still not on par with the number of sellers we saw in 2017 through 2019, which is helping to drive one of the most competitive seller’s markets of all time,” says Danielle Hale, realtor.com®’s chief economist. “Home prices are continuing to surge and sales are occurring nearly three weeks faster than a normal spring home buying season.”

Hale predicts that more homeowners will list their homes over the coming months. But with 554,000 fewer homes on the market in April than a year ago and buyer demand at all-time highs, home prices will likely continue to reach new highs. Hale says prices likely will reach their peak in July or August.

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Wallingford Market Snapshot – 28 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$481,350	$497,400	$139,000	$870,000	28

Single Home Market Snapshot – 21 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$547,952	$534,900	$199,500	$870,000	34

Townhouse Market Snapshot – 1 Listing
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$509,000	$509,000	$509,000	$509,000	4

Condo Market Snapshot – 3 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$192,267	$139,900	$139,000	$297,900	10

Twin Home Market Snapshot – 3 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$295,000	$300,000	$260,000	$325,000	13

*DOM = Days On Market

6 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

51 homes are Under Contract at this time

4 Wallingford PA homes sold last week

**Wallingford Homes Sold May 17, 2021 To May 23, 2021**
ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
606 School Lane	SNG	3	1.1	$400,000	05/17/21	6
6 Medbury Lane	SNG	3	1.0	$320,000	05/18/21	6
428 New Jersey Avenue	TWIN	2	1.0	$154,000	05/20/21	5
119 Brent Drive	SNG	4	3.0	$572,000	05/21/21	7
AVERAGE				$361,500		6

1 home sold with a Seller Assist:

– 119 Brent Drive – $5,000

Wallingford PA Real Estate – Wallingford, PA 19086

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S. Clark Kendus