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Wallingford PA Monthly Review – Page 14

Wallingford PA Real Estate

By Clark Kendus

Wallingford Real Estate Review- July 2011

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Wallingford Real Estate - Route 476 - Blue Route AT dUSK
Blue Route From Bullens Lane At Dusk

WALLINGFORD REAL ESTATE

July marked the first time this year that sales increased over the same month of the previous year, with 12 Wallingford homes sold in July 2011 as opposed to 11 sales in July 2010. Another encouraging trend was the average Days on Market was down substantially from previous months to 40 days. For the first six months of the year Days On Market averaged 182 days, so the drop to a 40 day average is significant. Coupled with the increase in the ratio of list price to selling price this indicates that seller pricing is coming into alignment with the market – proper pricing is reflected in shorter a marketing time and sale prices which closely reflect the asking price.

The percentage of sales price to original list was up to a strong 95.21%, and the corresponding measure of sales price to last list price posted at 96.55%. On the other hand the average sales price was down to $291,325, a drop of 23.0%.

There were 12 Wallingford homes sold during the month of July 2011.

WALLINGFORD HOMES SOLD – JULY 2011

Address   Bed   Bath     Price     Settled
114 Governors Drive     3     1.5    $227,000    07/01/11
1113 Putnam Blvd     3     2.5    $205,000    07/13/11
919 Winding Lane     3     2.5    $435,000    07/14/11
26 Cedar Road     4     1.0    $219,900    07/15/11
6 Kershaw Road     4     2.5    $545,000    07/15/11
115 Ridley Drive     3     1.5    $192,500    07/15/11
215 East Rose Valley Road     3     2.0    $392,000    07/21/11
705 Raleigh Court     2     1.0    $71,500    07/21/11
1044 Putnam Blvd     2     2.5    $204,900    07/29/11
409 Sheffield Drive     3     1.5    $265,000    07/29/11
209 Fox Lane     5     2.5    $510,000    07/29/11
607 Georgetown Road     3     1.5    $229,000    07/29/11

These 12 Wallingford homes were on the market an average of 40 days, with the average sold price representing 95.21% of the original asking price, and 96.55% of the last asking price.

919 Winding Lane was only on the market for 5days, while 115 Ridley Drive was on the market 125 days.

Conventional financing was utilized in 7 transactions, and 5 utilized FHA financing.

There were no distressed homes sales – Short Sales or Foreclosures reported.

A Seller Assist was utilized in 6 of 12 Wallingford homes sold, ranging from $525 to $11,000

114 Governors Drive – $7,850

26 Cedar Road – $1,500

6 Kershaw Road – $9,000

115 Ridley Drive – $5,500

1044 Putnam Blvd – $11,000

409 Sheffield Drive – $525

Wallingford July 2011 Activity vs July 2010

    SALES      AVERAGE     DOM STL TO ORIG STL TO LAST
2010      11      $378,200      53   94.36%   95.97%
2011      12      $291,325      40   95.21%   96.55%
      9.0%         – 23.0%   -24.5%    0.85%    0.58%

SWARTHMORE REAL ESTATE 

There were 7 Swarthmore homes sold during the month of July 2011.

SWARTHMORE HOMES SOLD – JULY 2011

Address   Bed   Bath      Price      Settled
105 Cornell Avenue     5     2.5    $476,000     07/06/11
10 Ogden Avenue     4     2.5    $975,000     07/06/11
517 Walnut Lane     6     4.2    $854,000     07/13/11
228 Benjamin West     3     2.0    $310,000     07/13/11
10 Woodbrook Lane     4     4.5    $900,000     07/15/11
801 Yale Avenue #1123     2     2.0    $154,000     07/22/11
303 Elm Avenue     5     4.51    $1,010,000     07/28/11

 These 7  Swarthmore homes sold for an average price of $688,429, and were on the market an average of 15 days, fetching 96.77% of original asking price, and 97.22% of last asking price.



Wallingford Real Estate Review – June 2011

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Wallingford Real Estate - Leiper House Outbuilding With Day Lillies

WALLINGFORD REAL ESTATE

At the mid point of the year real estate in the Wallingford, Nether Providence Township can be characterized by a abundant supply of inventory and weak buyer demand. The year began with 91 homes for sale, and the inventory has steadily risen through the year, reaching a peak of 145 earlier this week. It is discouraging to pass through the Spring market with an increase in inventory, and as basic economics teaches- a large supply of inventory coupled with weak demand drives prices down, and the numbers support that lesson.

Sales are down 30% as compared to the first 6 months of 2010. With first half sales historically representing the majority of yearly sales, the market is looking at annualized sales of under 100 homes versus 125 in 2010, and well below the peak sales year of 2007, which recorded 219 sales.

The average sales price is also down by 8.6%. The numbers also show that initial asking prices of area homes has continued to be out of step with the market, with selling prices representing only 88.3% of  original list prices, compared with 92.47% in 2010.

 SALES AT MID YEAR 2010 VS 2011    

   SALES     AVERAGE    DOM STL TO ORIG STL TO LAST
    2010      80      $325,856     174    92.47%   95.63%
    2011      56      $297,724     182    88.3%   93.07%
  – 30.0%         – 8.6%     8.0%    -4.17%   -2.56%

 

There were 18 Wallingford homes sold during the month of June 2011.

WALLINGFORD HOMES SOLD – JUNE 2011

Address   Bed   Bath     Price     Settled
832B Putnam Blvd      2    1.0   $120,000    06/01/11
711 Devon Lane      4     2.1   $260,000    06/01/11
114 Maple Road      3    1.0   $140,000    06/03/11
210 Willow Road      3    1.0   $145,000    06/03/11
510 West Brookhaven Road      4    2.1   $340,000    06/09/11
219 Sykes Lane      4    2.0   $350,000    06/13/11
835 Manchester Avenue      4    1.1   $180,000    06/14/11
410 West Rose Valley Road      4    2.2   $500,000    06/15/11
110 Walker Lane      4    3.1   $590,000    06/15/11
115A Beech Road      3    2.1   $260,000    06/15/11
725 Kincaid Mills Lane      3    2.1   $435,500    06/17/11
707 Harvey Road      3    2.0   $248,000    06/20/11
900 Heathdale Lane      4    2.1   $470,000    06/22/11
817 Parkridge Drive      4    3.1   $360,000    06/23/11
13 Kershaw Road      4    4.1   $872,500    06/24/11
300 Colonial Drive      5    3.1   $435,000    06/24/11
3 Chatham Place      5    3.1   $313,000    06/29/11
104 Quaint Road      4    2.0   $347,500    06/29/11

These 18 Wallingford homes were on the market an average of 245 days, with the average sold price representing 87.4% of the original asking price, and 93.07% of the last asking price.

3 Chatham Place was only on the market for 7 days, While 13 Kershaw Road was on the market 807 days.

Conventional  financing was utilized in 10 transactions, Cash in 5 transactions, and 3 used FHA financing. There were no distressed homes sales – Short Sales or Foreclosures reported.

A  Seller Assist was popular during June with 11 of 18 Wallingford homes sold having one, ranging from $400 to $16,650.

711 Devon Lane – $7,000

832B Putnam Blvd – $7,200

210 Willow Road – $800

114 Maple Road – $400

510 West Brookhaven Road – $9,000

110 Walker Lane – $16,650

510 West Rose Valley Road – $5,568

725 Kincaid Mills Lane – $5,500

707 Harvey Road – $10,000

900 Heathdale Lane – $1,500

104 Quaint Road – $1,450

June 2011 Activity vs June 2011

  SALES     AVERAGE     DOM STL TO   ORIG STL TO LAST
2010     26      $382,871     152   93.5%   95.85%
2011     18      $353,964     245   87.4%   93.07%
 – 30.8%         – 7.6%     61.2%    -6.1%   -5.78%

There were 12 Swarthmore homes sold during the month of June 2011.

SWARTHMORE HOMES SOLD – JUNE 2011

Address    Bed    Bath      Price      Settled
334 Rutgers Avenue      3     2.0    $385,000     06/04/11
7 Village Green Lane      4     3.0    $312,000     06/08/11
438 Riverview Road      5     3.2    $890,000     06/09/11
404 Rutgers Avenue      5     4.2    $490,000     06/15/11
210 Dartmouth Avenue      3     3.0    $350,000     06/15/11
508 Harvard Avenue      5     2.1    $425,000     06/16/11
625 North Chester Road      4     3.1    $355,000     06/20/11
801 Yale Avenue #714      2     2.0    $140,000     06/21/11
318 Brighton Avenue      4     2.1    $425,363     06/24/11
137 Rutgers Avenue      5     3.1    $305,000     06/30/11
60 Dogwood Lane      4     3.2    $599,000     06/30/11
405 Dickinson Avenue       5     4.0    $592,000     06/30/11

These 12 Swarthmore homes sold for an average price of $439,030, and were on the market an average of 111 days, fetching 90.81% of original asking price, and 96.15% of last asking price.

To emphasize the point that real estate is local in nature, in this case hyper-local, Swarthmore sales through the first half of 2011 have increased over last year for the same period. There have been 27 sales at the mid point of the year compared to 26 units last year at the same time. For the same time period the average Swarthmore sales price rose from $345,058 in 2010 to $388,521 through June 30 of 2011.

Wallingford Real Estate Review – April 2011

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Wallingford Real Estate
Spring Blooms In Wallingford

WALLINGFORD REAL ESTATE

There were 14 Wallingford homes sold during the month of April 2011.

 

Address   Bed   Bath      Price     Settled
123 Westminster Drive     4     1.1   $232,750    04/08/11
800 Avondale Road 6Q     1     1.0   $103,500    04/15/11
27 Green Valley Road     4     2.1   $278,000    04/20/11
510 Maple Road     2     1.1   $113,000    04/21/11
503 Bickmore Drive     4     2.1   $362,000    04/22/11
213 Maple Road     4     2.0   $262,000    04/25/11
803 Pine Road     4     3.0   $270,000    04/25/11
213 Martroy Lane     4     2.0   $410,000    04/26/11
1 Sharpless Lane     4     2.1   $325,000    04/27/11
227 Sykes Lane     4     2.1   $290,000    04/29/11
780 Pennsylvania Avenue     3     1.0   $115,000    04/29/11
17 Chestnut Parkway     3     1.0   $155,000    04/29/11
1013 Putnam Blvd     3     3.1   $189,900    04/29/11
503 Morris Lane     4     2.1   $370,000    04/29/11

 

These homes were on the market an average of 119 days, with the average settled price representing 89.46% of the original asking price, and 93.67% of the last asking price.

One seller was priced to sell, being on the market for only 2 days – 1013 Putnam Blvd. It took slightly over one year, 369 days, for the home at 27 Green Valley Road to go under contract.

Conventional financing was used in 9 of the transactions, followed by 4 homes using FHA financing, and 1 home sold for cash. There were no Short Sales or Foreclosures reported.

April 2010 Activity vs April 2011

    UNITS     AVERAGE    DOM STL TO ORIG STL TO LAST
   2010      6     $226,733     100   92.29%   95.84%
   2011      14     $248,296     119   89.46%   93.67%
    133.3.%          9.5%    19.0%  -2.83%  -2.17%

 

There were 4 Swarthmore homes sold during the month of April 2011.

SWARTHMORE REAL ESTATE – APRIL 2011

Address    Bed    Bath      Price     Settled
732 Yale Avenue     5     3.1    $355,000     04/04/11
801 Yale Avenue – #206     0     1.0      $32,000     04/08/11
613 N.Swarthmore Avenue     3     2.0    $223,100     04/08/11
415 South Chester Road     5     4.1    $424,500     04/15/11

 

These 4 Swarthmore homes were on the market an average of 250 days, average settled price representing 77.32% of the original listing price, and 88.27% of the last listing price.

 

Wallingford Real Estate Review – March 2011

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Wallingford Real Estate

Lower Crum Reservoir

 Wallingford Real Estate

 There were 8 Wallingford homes sold during the month of March 2011      

Wallingford Homes Sold – March 2011

Address                                             Bed                  Bath              Price              Settled 

430 Washington Avenue        4     2.0   $97,000    03/03/11
111 Harvey Road        3     1.1   $100,000    03/07/11
784 Pennsylvania Ave        4     1.1   $220,000    03/15/11
904 Truepenny Road        3     1.1   $285,000    03/18/11
524 Vernon Street        3     1.1   $133,000    03/21/11
6 Laurie Lane        7     4.1   $470,000    03/25/11
710 Hemlock Road        5     2.1   $324,900    03/25/11
800 Avondale Road – 2A        1     1.0   $106,000    03/30/11

These listings were on the market for an average of 226 days. The quickest sale was achieved in 27 days, the longest time to contract was 480 days. Two homes sold were Foreclosures – 6 Laurie Lane and 524 Vernon Street. 

Conventional mortgage financng was used in 4 of the transactions, 1 was FHA financing, and 3 homes settled with cash. Two homes had a sellers assist averaging $6,500.

There are 12 homes which have a settlement date scheduled in April.     

March 2010 Activity vs March 2011

    UNITS     AVERAGE    DOM STL TO ORIG STL TO LAST
   2010     14     $299,550     164   92.41%   94.39%
   2011      8     $216,988     226   82.26%   91.27%
    -43.0%       -28.0%    38.0%   -10.15%   -3.12%

The end of March also ends the 1st quarter of 2011 – How did the quarter stack up against last year?

1st Quarter 2010 vs 1st Quarter 2011

    UNITS      AVERAGE     DOM STL TO ORIG STL TO LAST
   2010      32       $299,677      196    94.91%    96.97%
   2011      18       $287,006      172    90.8%    95.67%
    -44.0%           -4.2%     -12.2%    -4.11%    -1.3%

 

Sales are off significantly and prices have continued to dip in comparison to last year. Settled prices in comparison to the original and last last price are indications that buyers are driving prices down further.

Swarthmore Real Estate – March 2011

There were 2 Swartmore homes sold during the month of March.

 Address                                               Bed                 Bath            Price             Settled

609 Elm Avenue         4      2.1   $430,000     03/11/11
311 Rutgers Avenue         3      1.1   $255,000     03/24/11

There are 3 Swarthmore homes scheduled to settle in April.

Wallingford Real Estate Review – February 2011

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Wallingford Real Estate
Winter Night – Beatty Road Trolley Stop

Wallingford Real Estate

Reviewing Wallingford Real Estate activity for the second month of 2011.  

Address                                               Bed                 Bath             Price           Settled

211 Grandview Road         3       1.1 $257,800     02/16/11
110 Canterbury Drive         3       1.1 $2500,000     02/22/11
700 Avondale Road – 7C         2       2.0 $152,000     02/24/11
201 Media Parkway         5       4.0 $235,000     02/28/11

These listings were on the market for an average of 110 days. The quickest sale was achieved in 48 days, the longest time to contract was 337 days.  Two homes had a seller assist averaging $7,617.  

             

 February 2011 Activity vs February 2010

 

  UNITS     AVERAGE    DOM STL TO ORIG STL TO LAST
   2010     6      $278,025     272  94.47%  98.46%
   2011     4       $223,700     160  90.52%  92.81%
   -34.0%         -20.0%   -42.0%   -3.95%   -5.65%

Comparing settled homes year to date versus last year for the first two months of the year – in 2010 there were 18 homes settled, in 2011 there have been 10 homes settled – a decrease of 44.4%
 

Are you curious about what Wallingford townhomes or Wallingford homes sold last month or last year?  

Swarthmore Real Estate

A often asked question is what happening in Swarthmore real estate?  

As part of this and future monthly updates I will include information regarding Swarthmore real estate activity. 

These Swarthmore homes represent homes that have settled in the months of January and February 2011.  

Address                                                Bed                Bath             Price          Settled

801 Yale Avenue – #1208           3       4.0  $316,600      01/07/11
14 Crest Lane           3       2.1  $339,000      01/11/11
626 Strath Haven Avenue           4       3.0  $325,000      01/14/11
317 Maple Avenue           5       2.1  $367,500      01/14/11
98 Dartmouth Avenue           4       2.1  $395,000      01/28/11
308 Vassar Avenue           5       2.1  $295,000      02/18/11

These listings were on the market for an average of 126 days. The quickest sale was achieved in 11 days, the longest time to contract was 364 days.  Two homes had a seller assist averaging $10,041.  

Swarthmore home sales year to date compared to last year for the same time period are up by 1 home. In 2010, 5 homes had settled through the end of February, this year 6 homes have settled through the end of February.

S. Clark Kendus

Sales Associate

Cavanagh Real Estate
112 West Front Street
Media, PA 19063
Cell: (610)-322-6734
Office: (610) 565-4100

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