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

There are 33 homes listed for sale in Wallingford PA and Nether Providence Township on November 10, 2020 with an average asking price of $500,542.

Home prices continue to climb in a market with limited number of homes for sale and high buyer demand. The majority of major metros across the U.S. posted double-digit price gains in the third quarter. Single-family existing home prices increased in all 181 metro areas tracked in the National Association of REALTORS®’ latest quarterly report, released Thursday.

The price of single-family homes surged 12% year over year to $313,500. The Western region of the U.S. led the country in price appreciation, up 13.7%, followed closely by the Northeast at 13.3%, the South at 11.4%, and the Midwest at 11.1%.

Sixty-five percent of the metro areas tracked by NAR reported double-digit price gains compared to a year ago. As a comparison, in the second quarter, less than 10% of the metro areas recorded double-digit increases.

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Wallingford Market Snapshot – 33 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$500,542	$485,000	$104,900	$999,900	64

Single Home Market Snapshot – 27 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$564,407	$549,000	$264,999	$999,900	64

Townhouse Market Snapshot – 2 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$409,750	$409,750	$399,500	$420,000	96

Condo Market Snapshot – 3 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$118,167	$115,000	$109,500	$130,000	16

Twin Home Market Snapshot – 1 Listing

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$104,900	$104,900	$104,900	$104,900	130

9 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No listings were withdrawn from the market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

33 homes are Under Contract at this time

4 Wallingford PA homes sold last week

Wallingford Homes Sold November 9, 2020 To November 15, 2020

ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
433 New Jersey Avenue	ROW	3	1.0	$131,500	11/12/20	6
702 Concord Court	TWIN	2	1.0	$150,000	11/12/20	5
1000 Putnam Blvd #504	CONDO	2	2.0	$188,000	11/12/20	8
747 Windsor Place	SNG	4	2.1	$481,000	11/13/20	3
AVERAGE				$237,625		6

No homes 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 36 homes listed for sale in Wallingford PA and Nether Providence Township on November 10, 2020 with an average asking price of $490,005.

Certain housing trends emerging from the pandemic likely will outlast the virus, real estate professionals predict. “The idea of what is necessary is changing,” Camille Thomas, a real estate professional in Jackson Hole, Wyo., told realtor.com®. “The home has become more than a living space.”

The Great Escape

The suburbs have become a hot place to be in the pandemic. Some real estate experts have called urban flight a myth, but Americans—particularly millennials—were already leaving crowded cities for the suburbs in the five years prior to the pandemic, according to the Urban Land Institute. Now the trend has accelerated. Housing inventory in the suburbs is shrinking faster than in urban areas, according to a report from realtor.com®.

The Urban Land Institute refers to the current booming housing market as “the great American move,” which was ignited by the pandemic, creating a growing desire to live in lower-density areas and propelling suburban growth. “People are not wanting to be in a city where it feels too crowded right now,” Suzi Dailey, a real estate professional with Realty One International in Orange County, Calif., told realtor.com®. “They are leaving cities in favor of homes with more space, a backyard, or some type of view.”

As more companies take their workforce fully remote, Americans may have more flexibility to move. They may seek larger homes in the suburbs and more affordability outside of city centers. The South, which tends to offer greater housing affordability, is benefiting most from relocation trends during the pandemic, ULI notes.

The Zoom Room

As remote work grows, being prepared for video conferences is growing in importance. Some real estate professionals and sellers are even including “Zoom rooms” in listings as part of the home’s features. These are areas in the home that serve as a dedicated corner or section of the home that offers an aesthetically pleasing background for video calls. “Buyers are looking for extra space to create workspaces for students and working parents,” Thomas told realtor.com®. “Three bedrooms are no longer enough. Now it must be three bedrooms and an additional workspace, at least.”

The home office has become a prime feature attracting buyers, real estate professionals reported in HomeLight’s Q2 2020 Top Agent Insights report. As remote work grows more common, home buyers need a formal home office. Designated home offices were the top feature in demand among home shoppers, followed by a home in a less dense location, single-family living, a private and spacious outdoor area, and a well-appointed kitchen, the survey shows.

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Wallingford Market Snapshot – 36 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$490,005	$497,450	$104,900	$999,900	57

Single Home Market Snapshot – 27 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$584,537	$550,000	$264,999	$999,900	63

Townhouse Market Snapshot – 2 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$409,750	$409,750	$399,500	$420,000	93

Condo Market Snapshot – 4 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$135,875	$122,500	$109,500	$185,000	12

Twin Home Market Snapshot – 2 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$174,900	$174,900	$104,900	$244,900	64

Row Home Market Snapshot – 1 Listing

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$148,900	$148,900	$148,900	$148,900	4

*DOM = Days On Market

3 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

No listings expired

32 homes are Under Contract at this time

5 Wallingford PA homes sold last week

Wallingford Homes Sold November 2, 2020 To November 8, 2020

ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
203 Avondale Road	SNG	4	2.0	$486,000	11/02/20	6
306 Henry Lane	SNG	4	2.0	$415,000	11/04/20	54
1152 Putnam Blvd	TOWN	4	3.1	$279,000	11/05/20	9
747 Windsor Place	SNG	4	2.1	$481,000	11/06/20	3
22 Chestnut Parkway	SNG	5	2.1	$350,000	11/06/20	8
AVERAGE				$402,200		16

2 homes sold with a Seller Assist

– 203 Avondale Road  – $14,500

– 1152 Putnam Blvd – $500

Wallingford PA Real Estate – Wallingford, PA 19086

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

There are 34 homes listed for sale in Wallingford PA and Nether Providence Township on November 3, 2020 with an average asking price of $492,413.

The 30-year fixed-rate mortgage continued to hover near its all-time low this week, as economists predict that historically low rates will likely remain into 2021.

The 30-year fixed-rate mortgage averaged 2.81% this week, up slightly from last week’s 2.80%, which was the lowest ever in Freddie Mac’s records, dating back nearly 50 years.

“The record-low mortgage rate environment is providing tangible support to the economy at a critical time, as housing continues to propel growth,” says Sam Khater, Freddie Mac’s chief economist. “Strong purchase demand is helping to lift the construction, manufacturing, and transportation industries that build new homes and it is also leading to more consumer spending for owners, who are selling or improving their home.”

Ultra-low mortgage rates have helped homebuying activity to increase by nearly 70% compared to May, writes Nadia Evangelou, a research economist for the National Association of REALTORS® at the association’s blog.

Many homeowners are also taking advantage of the low mortgage rates to refinance their loans for lower monthly payments. Homeowners could save about $150 per month, on average, on their mortgage compared with rates a year ago. Mortgage rates lately are more than a full percentage point lower than rates over the last five years.

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Wallingford Market Snapshot – 34 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$492,413	$467,500	$104,900	$999,900	59

Single Home Market Snapshot – 25 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$589,340	$550,000	$264,999	$999,900	66

Townhouse Market Snapshot – 3 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$366,133	$399,500	$269,900	$429,000	58

Condo Market Snapshot – 2 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$150,000	$150,000	$115,000	$185,000	14

Twin Home Market Snapshot – 2 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$174,900	$174,900	$104,900	$244,900	60

Row Home Market Snapshot – 2 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$130,175	$130,175	$128,850	$131,500	11

*DOM = Days On Market

3 Wallingford PA homes went under contract 

3 new listings came onto the market 

1 listing was withdrawn from the market

1 listing was temporarily taken off the market

No listings expired

31 homes are Under Contract at this time

9 Wallingford PA homes sold last week

Wallingford Homes Sold October 26, 2020 To November 1, 2020

ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
800 Avondale Road #6C	CONDO	2	2.0	$135,000	10/26/20	18
302 Denver Court	ROW	2	1.0	$55,000	10/27/20	11
415 Hawthorne Road	SNG	3	2.1	$527,500	10/29/20	5
7 Kershaw Road	SNG	5	2.1	$875,000	10/29/20	3
104 Luckie Lane	SNG	5	3.3	$975,000	10/29/20	34
17 Berkshire Drive	SNG	5	3.0	$430,000	10/29/20	41
302 Woodward Road	SNG	4	2.1	$635,000	10/30/20	5
411 Woodward Road	SNG	6	4.0	$830,000	10/30/20	1
527 Washington Avenue	TWIN	3	1.1	$265,000	10/30/20	10
AVERAGE				$525,278		14

4 homes sold with a Seller Assist

– 415 Hawthorne Road – $5,360

– 104 Luckie Lane – $8,650

– 17 Berkshire Drive – $10,000

– 527 Washington Avenue – $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 32 homes listed for sale in Wallingford PA and Nether Providence Township on October 20, 2020 with an average asking price of $485,492.

Don’t count on retirees to add to the inventory in the housing market today.

A large majority of retirees in the 20th annual Transamerica retirement survey are not planning to move into a retirement community or downsize to an apartment or condo in Florida, they said.

Ninety percent of retirees want to remain in their own homes as they age, with 69% stating that it is “very important” to them to do so. Of the respondents, three-quarters of retirees are homeowners, 22% said they rent and 2% said they reside with others, such as family or friends. The majority (73%) of retirees live in a single-family house, while 19% live in a multi-unit facility, like a condo or apartment and 4% reside in a retirement community.

More than 60% of retirees have not moved homes since retiring, but there are commonalities between those who do choose to move after retiring. Within the 38% of respondents who said they moved after retiring, 32% opted to move closer to friends and family, 29% moved to lessen their expenses, 29% downsized and an equal 22% started a new chapter in life and/or relocated to a better climate.

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Wallingford Market Snapshot – 32 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$485,492	$471,950	$104,900	$999,900	54

Single Home Market Snapshot – 21 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$621,700	$595,000	$350,000	$999,900	65

Townhouse Market Snapshot – 3 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$366,133	$399,500	$269,900	$429,000	49

Condo Market Snapshot – 4 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$135,375	$123,500	$109,500	$185,000	21

Twin Home Market Snapshot – 2 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$289,900	$289,900	$104,900	$474,900	58

Row Home Market Snapshot – 2 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$130,175	$130,175	$128,850	$131,500	4

*DOM = Days On Market

7 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

No listings expired

38 homes are Under Contract at this time

2 Wallingford PA homes sold last week

Wallingford Homes Sold October 12, 2020 To October 18, 2020

ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
309 Ryanard Road	SNG	5	3.0	$376,000	10/14/20	5
2 Hickory Lane	SNG	4	2.0	$420,000	10/14/20	22
AVERAGE				$398,000		14

1 home sold with a Seller Assist

– 2 Hickory Lane – $9,500

Wallingford PA Real Estate – Wallingford, PA 19086

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

There are 37 homes listed for sale in Wallingford PA and Nether Providence Township on October 13, 2020 with an average asking price of $522,443.

It’s a great time to be a home seller, but home buyers are feeling the competition—which is only growing. Homes sold faster in September than in August, realtor.com® reports in its September Monthly Housing Trends Report. September is usually the best time of year to buy a home since more homes tend to go on the market and there is less competition. Not in 2020.

The pandemic has fueled a buying spree that has led to a very competitive fall market for home shoppers. The average buyer is paying about $20,000 more for a home and facing 25% more competition than at the start of the year, realtor.com® reports. The number of homes on the market also has plunged 39% year over year in September, which equates to 529,000 fewer home listings.

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Wallingford Market Snapshot – 37 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$522,443	$519,000	$49,900	$1,049,000	50

Single Home Market Snapshot – 26 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$656,061	$619,450	$329,000	$1,049,000	56

Townhouse Market Snapshot – 2 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$414,250	$414,250	$399,500	$429,000	69

Condo Market Snapshot – 5 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$136,100	$132,000	$109,500	$185,000	20

Twin Home Market Snapshot – 3 Listings

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$237,967	$110,000	$104,900	$499,000	51

Row Home Market Snapshot – 1 Listing

AVERAGE	MEDIAN	LOW	HIGH	DOM*
$49,900	$49,900	$49,900	$49,900	11

*DOM = Days On Market

5 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

34 homes are Under Contract at this time

3 Wallingford PA homes sold last week

Wallingford Homes Sold October 5, 2020 To October 11, 2020

ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
37 Green Valley Road	SNG	3	1.1	$456,000	10/07/20	0
109 Maple Road	SNG	4	3.0	$305,000	10/07/20	8
230 W Rose Valley Road	SNG	4	2.1	$525,000	10/07/20	4
AVERAGE				$428,667		4

1 home sold with a Seller Assist

– 37 Green Valley Road – $5,400

Wallingford PA Real Estate – Wallingford, PA 19086