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

There are 19 homes listed for sale – just 9 Active listings and 12 Active Under Contract listings – in Wallingford PA and Nether Providence Township on December 29, 2020 with an average asking price of $499,426.

Many first-time buyers are being priced out of the housing market as inventory shortages persist. Adding to the woes, home prices have risen annually by double-digit percentages.

While home sales have increased during the pandemic, the market share of first-time buyers has mostly stayed the same. First-time buyers made up 32% of sales in November, about equal to a year ago, according to the National Association of REALTORS®’ latest existing-home sales report. 

The median price for an existing home in November was $310,800, a 14.6% jump from a year ago, NAR reports. Prices rose in every region across the U.S. “We have clearly seen a bifurcated outcome in the housing market,” Yun told Newsweek. “People who can work from home or have exposure to the stock market have done well in 2020, but those on the front lines at restaurants, hotels, and grocery stores – who tend to be renters – have not.”

Low mortgage rates and the ability for more people to work from home have helped to lift home sales, he says. Existing-home sales were nearly 26% higher in November than a year ago. Mortgage rates are at the lowest averages since Freddie Mac began tracking such data in 1971. Last week, the 30-year fixed-rate mortgages averaged an all-time low of 2.67%.

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Wallingford Market Snapshot – 19 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$499,426	$449,000	$45,000	$949,000	70

Single Home Market Snapshot – 15 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$560,353	$550,000	$299,000	$949,000	83

Townhouse Market Snapshot – 1 Listing

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$339,900	$339,900	$339,900	$339,900	40

Twin Home Market Snapshot – 3 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$247,967	$299,000	$45,000	$399,900	12

4 Wallingford PA homes went under contract 

No new listings came onto the market 

1 listing was withdrawn from the market

No listings were temporarily taken off the market

No listings expired

30 homes are Under Contract at this time

5 Wallingford PA homes sold last week

Wallingford Homes Sold December 21, 2020 To December 27, 2020

ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
625 W Wiltshire Drive	TWIN	3	2.1	$244,900	12/21/20	4
415 Marie Drive	SNG	4	3.1	$625,000	12/21/20	365
120 Dundee Mills Lane	SNG	3	2.1	$390,000	12/22/20	124
720 W Brookhaven Road	SNG	5	2.0	$350,000	12/22/20	162
814B Putnam Blvd	CONDO	2	1.0	$123,500	12/23/20	5
AVERAGE				$347,680		132

120 Dundee Mills Lane sold with a $300 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 24 homes listed for sale – 11 Active listings and 13 Active Under Contract listings – in Wallingford PA and Nether Providence Township on December 22, 2020 with an average asking price of $480,542.

This week marked the 15th record low for mortgage rates this year. The 30-year fixed-rate mortgage dipped further to an average of 2.67%, the lowest rate ever recorded by Freddie Mac, with records dating back to 1971.

“The housing market continues to surge higher and support an otherwise stagnant economy that has lost momentum in the last couple of months,” said Sam Khater, Freddie Mac’s chief economist. “Mortgage rates are at record lows and pushing many prospective home buyers off the sidelines and into the market. Homebuyer sentiment is sanguine and purchase demand shows no real signs of waning at all heading into next year.”

Freddie Mac reports the following national averages with mortgage rates for the week ending Dec. 17:

• 30-year fixed-rate mortgages: averaged 2.67%, with an average 0.7 point, falling from last week’s 2.71% average. This time last year, 30-year rates averaged 3.73%.
• 15-year fixed-rate mortgages: averaged 2.21%, with an average 0.6 point, falling from last week’s 2.26%. A year ago, 15-year rates averaged 3.19%.
• 5-year hybrid adjustable-rate mortgages: averaged 2.79%, with an average 0.3 point, unchanged from last week. A year ago, 5-year ARMs averaged 3.36%.

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Wallingford Market Snapshot – 24 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$480,542	$467,000	$45,000	$949,000	61

Single Home Market Snapshot – 19 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$544,437	$549,000	$270,000	$949,000	65

Townhouse Market Snapshot – 1 Listing

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$339,900	$339,900	$339,900	$339,900	33

Twin Home Market Snapshot – 4 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$212,200	$201,950	$45,000	$399,900	50

6 Wallingford PA homes went under contract 

2 new listings came onto the market 

1 listing was withdrawn from the market

1 listing was temporarily taken off the market

No listings expired

30 homes are Under Contract at this time

3 Wallingford PA homes sold last week

Wallingford Homes Sold December 14, 2020 To December 20, 2020

ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
317 Prichard Lane	SNG	3	2.1	$352,500	12/17/20	3
755 W Brookhaven Road	SNG	4	4.0	$515,000	12/17/20	63
800 Avondale Road #7N	CONDO	1	1.0	$104,500	12/17/20	22
AVERAGE				$324,000		29

755 W Brookhaven Road sold with a $10,000 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 28 homes listed for sale – 12 Active listings and 16 Active Under Contract listings – in Wallingford PA and Nether Providence Township on December 15, 2020 with an average asking price of $473,818.

Homeowners are building wealth as property appreciation surges to its highest level since 2014. In the third quarter, the average homeowner had gained about $17,000 in equity year over year, according to CoreLogic’s latest Home Equity Report. Owners in Washington State saw the largest annual increase in home equity at $35,800, followed by California at $34,000.

“The housing market has remained a strong pillar in an otherwise tumultuous economic year,” says Frank Martell, president and CEO of CoreLogic. “A sharp rise in demand, spurred by record-low interest rates, continues to bolster homeowner equity. And with many people now spending more time than ever before at home, some homeowners have tapped into their strengthening equity to fund renovations.”

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Wallingford Market Snapshot – 28 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$473,818	$424,500	$45,000	$949,000	76

Single Home Market Snapshot – 21 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$543,509	$549,000	$264,999	$949,000	85

Townhouse Market Snapshot – 3 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$334,800	$339,900	$265,000	$399,500	51

Twin Home Market Snapshot – 4 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$212,200	$201,950	$45,000	$399,900	47

4 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

34 homes are Under Contract at this time

2 Wallingford PA homes sold last week

Wallingford Homes Sold December 7, 2020 To December 13, 2020

ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
30 Brookside Road	SNG	4	3.0	$670,000	12/10/20	6
702 Hartford Court	ROW	3	1.0	$136,500	12/11/20	6
AVERAGE				$403,250		6

Neither home sold with a 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 30 homes listed for sale – 14 Active listings and 16 Active Under Contract listings – in Wallingford PA and Nether Providence Township on December 8, 2020 with an average asking price of $466,217.

One in three American adults has transitioned to partial or full remote work during the COVID-19 pandemic, freeing them up to move further distances.

NAR tracked change-of-address data from the U.S. Postal Service from March to October to determine mobility changes since the pandemic began. A total of 8.93 million people have relocated since the start of the pandemic, the data shows. Most people moved at the beginning of the pandemic and during the summer months.

Thirty-four states saw net migration gains nationwide, which means they had more people moving into the state compared to those moving out. New Jersey, South Carolina, and Maryland had the highest migration gains across the country. On the other hand, New York, Texas, and the District of Columbia have lost the most people since the beginning of the pandemic, the data shows. More than 50% of those who left New York moved to New Jersey or Connecticut. Also, most relocating Texans moved to Arkansas, Florida, or New Mexico.

NAR cautions that the data is not a full-year comparison and may not yet fully represent true migratory trends.

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Wallingford Market Snapshot – 30 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$466,217	$467,000	$45,000	$949,000	71

Single Home Market Snapshot – 22 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$558,804	$550,000	$264,999	$949,000	81

Townhouse Market Snapshot – 3 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$334,800	$339,900	$265,000	$399,500	48

Condo Market Snapshot – 2 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$119,750	$119,750	$109,500	$130,000	14

Twin Home Market Snapshot – 3 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$149,633	$104,900	$45,000	$299,000	56

5 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

1 listing expired

31 homes are Under Contract at this time

7 Wallingford PA homes sold last week

Wallingford Homes Sold November 30, 2020 To December 6, 2020

ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
200 W Brookhaven Road	SNG	4	2.1	$487,500	11/30/20	3
218 Moylan Avenue	SNG	5	3.0	$537,500	11/30/20	1
4 Fern Lane	SNG	4	3.0	$1,006,000	11/30/20	51
202 Beaumont Lane	SNG	5	2.0	$575,000	12/01/20	0
708 Washington Avenue	SNG	3	1.1	$300,000	12/02/20	10
402 Briarwood Lane	SNG	3	1.0	$517,000	12/02/20	6
841 Surrey Lane	SNG	3	2.0	$430,000	12/04/20	6
AVERAGE				$550,429		11

3 homes sold with a Seller Assist

– 202 Beaumont Lane – $500

– 708 Washington Avenue – $5,000

– 841 Surrey Lane – $1,500

Wallingford PA Real Estate – Wallingford, PA 19086