Wallingford PA Weekly Review

Wallingford PA Real Estate – February 22, 2021 To February 28, 2021

March 2, 2021 by admin

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

There are 13 homes listed for sale – 12 Active listings and 1 Active Under Contract listings – in Wallingford PA and Nether Providence Township on March 3, 2021 with an average asking price of $527,388.

The 30-year fixed-rate mortgage came off its recent all-time lows to average near 3% this week. The 10-year Treasury yield, which mortgage rates closely follow, hit its highest level in the past year, prompting the increase in rates.

Rates continue to remain near historic lows, said Sam Khater, Freddie Mac’s chief economist. The all-time low for the 30-year fixed-rate mortgage was set in January, averaging 2.65%.

Freddie Mac reports the following national averages with mortgage rates for the week ending Feb. 25:

30-year fixed-rate mortgages: averaged 2.97%, with an average 0.6 point, up from last week’s 2.81% average. Last year at this time, 30-year rates averaged 3.45%.
15-year fixed-rate mortgages: averaged 2.34%, with an average 0.6 point, rising from last week’s 2.21% average. A year ago, 15-year rates averaged 2.95%.
5-year hybrid adjustable-rate mortgages: averaged 2.99%, with an average 0.1 point, rising from last week’s 2.77% average. A year ago, 5-year ARMs averaged 3.20%.

View all Nether Providence Twp Homes For Sale

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Wallingford Market Snapshot – 13 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$527,388	$399,900	$137,900	$1,069,000	28

Single Home Market Snapshot – 8 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$694,113	$774,700	$214,500	$1,069,000	31

Condo Market Snapshot – 3 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$190,900	$179,900	$137,900	$254,900	3

Townhouse Market Snapshot – 2 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$364,900	$364,900	$329,900	$399,900	52

2 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No listings were withdrawn from the market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

1 listing expired

14 homes are Under Contract at this time

2 Wallingford PA homes sold last week

**Wallingford Homes Sold February 22, 2021 To February 28, 2021**
ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
616 Morris Lane	SNG	4	2.0	$489,000	02/23/21	6
715 Pennsylvania Avenue	SNG	3	1.1	$115,000	02/23/21	22
AVERAGE				$302,000		14

Wallingford PA Real Estate – Wallingford, PA 19086

Wallingford PA Real Estate – February 15, 2021 To February 21, 2021

February 23, 2021 by admin

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

There are 10 homes listed for sale – 7 Active listings and 3 Active Under Contract listings – in Wallingford PA and Nether Providence Township on February 23, 2021 with an average asking price of $566,180.

Home sales could easily be 20% higher if more homes were for sale, says Lawrence Yun, chief economist of the National Association of REALTORS®. Existing-home sales – completed transactions for single-family homes, townhomes, condos, and co-ops – rose 0.6% in January compared to December 2020 and are up nearly 24% over a year ago, the National Association of REALTORS® reported Friday. All four major regions of the U.S. recorded double-digit annual gains for home sales in January.

“Home sales continued to ascend in the first month of the year, as buyers quickly snatched up virtually every new listing coming on the market,” Yun says. Seventy-one percent of homes sold in January were on the market for less than a month, according to NAR’s report.

While most of the economy has felt the toll of the lingering COVID-19 pandemic, the housing sector has remained a bright spot, Yun adds. Sales remain high and home prices have continued to rise, adding equity to home sellers.

“Home sales are continuing to play a part in propping up the economy,” Yun says. “With additional stimulus likely to pass and several vaccines now available, the housing outlook looks solid for this year.” Yun predicts employment to increase, which could spur even more home buying over the coming months. He predicts existing-home sales to reach at least 6.5 million in 2021.

Here’s a closer look at key indicators from NAR’s existing-home sales report, reflecting January sales data:

Home prices: The median existing-home price for all housing types in January was $303,900—a 14% jump over a year ago.

Inventory: Total housing inventory at the end of January was 1.04 million units, down nearly 26% from a year ago. Unsold inventory sits at a 1.9-month supply at the current sales pace.

Days on the market: Properties typically remained on the market for 21 days in January, down from 43 days a year prior.

First-time buyers: First-time buyers comprised 33% of sales in January, up slightly from 32% a year earlier.

Cash sales: All-cash sales accounted for 19% of transactions in January, down from 21% a year ago. Individual investors or second-home buyers tend to make up the biggest bulk of cash sales. They accounted for 15% of sales in January, down from 17% in January 2020.

View all Nether Providence Twp Homes For Sale

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Wallingford Market Snapshot – 10 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$566,180	$514,500	$214,500	$1,069,000	43

Single Home Market Snapshot – 8 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$636,488	$649,750	$214,500	$1,069,000	41

Townhouse Market Snapshot – 2 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$284,950	$284,950	$240,000	$329,900	51

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

2 listings expired

16 homes are Under Contract at this time

1 Wallingford PA home sold last week

**Wallingford Homes Sold February 15, 2021 To February 21, 2021**
ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
811 Pine Road	SNG	3	2.0	$267,000	02/16/21	8
AVERAGE				$267,000		8

Wallingford PA Real Estate – Wallingford, PA 19086

Wallingford PA Real Estate – February 8, 2021 To February 14, 2021

February 16, 2021 by admin

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

There are 9 homes listed for sale – 7 Active listings and 2 Active Under Contract listings – in Wallingford PA and Nether Providence Township on February 16, 2021 with an average asking price of $530,463.

The average purchase loan amount has reached a new record high: $402,200, the Mortgage Bankers Association reported Wednesday. The higher-priced segment of the housing market continues to perform strongly, the MBA says.

Mortgage amounts have been climbing to new record highs since April 2020, near the start of the COVID-19 pandemic.

Mortgage applications for home purchases were up 17% last week over last year, the MBA reports.

Home buyers are borrowing more as home prices rise by double-digit percentages over the past year. Also, mortgage interest rates have been hovering near record lows. “Since interest rates are lower, monthly payments are lower – even with higher loan balances,” says The Ascent, a Motley Fool financial publication. “This makes it easier for would-be borrowers to get approved for bigger loans.”

View all Nether Providence Twp Homes For Sale

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Wallingford Market Snapshot – 8 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$530,463	$502,000	$240,000	$929,000	49

Single Home Market Snapshot – 6 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$612,300	$577,450	$345,000	$895,000	50

Townhouse Market Snapshot – 2 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$284,950	$284,950	$240,000	$329,900	47

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

13 homes are Under Contract at this time

5 Wallingford PA homes sold last week

**Wallingford Homes Sold February 8, 2021 To February 14, 2021**
ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
800 Avondale Road #6G	CONDO	2	2.0	$135,500	02/09/21	1
17 Kershaw Road	SNG	3	3.0	$920,000	02/09/21	107
216 Highland Avenue	SNG	6	4.1	$500,000	02/11/21	290
208 Emerald Lane	TWIN	3	1.1	$325,000	02/12/21	9
719 Pennsylvania Avenue	TWIN	2	1.0	$65,000	02/12/21	28
AVERAGE				$399,100		87

17 Kershaw Road sold with a $9,000 Seller Assist

Wallingford PA Real Estate – Wallingford, PA 19086

Wallingford PA Real Estate – February 1, 2021 To February 7, 2021

February 9, 2021 by admin

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

There are 6 homes listed for sale – just 3 Active listings and 3 Active Under Contract listings – in Wallingford PA and Nether Providence Township on February 9, 2021 with an average asking price of $503,800.

Housing appreciation has grown over the last few months with the surging real estate market. Thirty percent – nearly one in three – of homes with a mortgage in the U.S. are now considered “equity-rich,” according to a new report from ATTOM Data Solutions, a real estate research firm.

A home being equity-rich means that the combined estimated amount of loans secured by the property is 50% or less of the estimated market value. In short, it means homeowners themselves have accumulated at least half of the equity in their homes.

ATTOM’s fourth-quarter 2020 U.S. Home Equity & Underwater Report shows that 17.8 million residential properties in the U.S. were considered equity-rich.

View all Nether Providence Twp Homes For Sale

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Wallingford Market Snapshot – 6 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$503,800	$379,450	$240,000	$895,000	60

Single Home Market Snapshot – 4 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$613,225	$639,450	$279,000	$895,000	69

Townhouse Market Snapshot – 2 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$284,950	$284,950	$240,000	$329,900	44

1 Wallingford PA home went under contract

No new listings came onto the market

1 listing was withdrawn from the market

1 listing was temporarily taken off the market

No listings expired

16 homes are Under Contract at this time

2 Wallingford PA homes sold last week

**Wallingford Homes Sold February 1, 2021 To February 7, 2021**
ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
504 Vernon Street	TWIN	3	2.1	$395,000	02/03/21	13
100 Westminster Drive	SNG	3	2.1	$393,000	02/04/21	11
AVERAGE				$394,000		12

Neither home sold with a Seller Assist

Wallingford PA Real Estate – Wallingford, PA 19086

Wallingford PA Real Estate – January 25, 2021 To January 31, 2021

February 2, 2021 by admin

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

There are 6 homes listed for sale – just 3 Active listings and 3 Active Under Contract listings – in Wallingford PA and Nether Providence Township on February 2, 2021 with an average asking price of $503,800.

Pending home sales reached a record high for December last month as the unseasonable housing surge continued in markets across the country during the COVID-19 pandemic.

Pending sales were up 21.4% year over year in December, reaching the highest reading for a December on the National Association of REALTORS®’ Pending Home Sales Index. All major regions of the U.S. recorded double-digit increases annually.

However, the index – a forward-looking indicator of home sales based on contract signings – did drop slightly, by three-tenths of a percentage point, in December compared to November. December’s index reading was 125.5. (An index of 100 is equal to the level of contract activity in 2001.) The slight month-over-month decline was blamed on fewer contract signings in the Midwest, NAR said. In other regions, contract signings saw an uptick or stayed flat in December.

Housing shortages continue to press on the housing market. “Pending home sales contracts have dipped during recent months, but I would attribute that to having too few homes for sale,” said Lawrence Yun, NAR’s chief economist. “There is a high demand for housing and a great number of would-be buyers, and therefore sales should rise with more new listings. This elevated demand without a significant boost in supply has caused home prices to increase and we can expect further upward pressure on prices for the foreseeable future.”

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Wallingford Market Snapshot – 6 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$503,800	$379,450	$240,000	$895,000	57

Single Home Market Snapshot – 4 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$613,225	$639,450	$279,000	$895,000	65

Townhouse Market Snapshot – 2 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$284,950	$284,950	$240,000	$329,900	40

1 Wallingford PA home went under contract

No 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

10 Wallingford PA homes sold last week

**Wallingford Homes Sold January 25, 2021 To January 31, 2021**
ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
840 Parkridge Drive	SNG	3	2.0	$402,000	01/25/21	5
707 Kincaid Mills Lane	TOWN	3	2.2	$408,000	01/27/21	84
610 School Lane	SNG	3	1.1	$356,000	01/28/21	5
371 Saybrook Lane	TOWN	2	2.1	$265,000	01/28/21	3
828A Putnam Blvd	CONDO	2	1.0	$134,721	01/29/21	6
828A Putnam Blvd	CONDO	2	1.0	$134,721	01/29/21	6
609 Wilder Road	SNG	5	2.2	$545,000	01/29/21	20
119 Chestnut Parkway	SNG	3	1.1	$280,000	01/29/21	49
508 S Providence Road	SNG	5	3.1	$750,000	01/29/21	50
700 Concord Court	TWIN	1	1.0	$104,500	01/29/21	165
AVERAGE				$337,694		39

2 homes sold with a Seller Assist

– 119 Chestnut Parkway – $8,850

– 700 Concord Court – $2,000

Wallingford PA Real Estate – Wallingford, PA 19086

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S. Clark Kendus