A weekly review of recently sold homes in Wallingford PA and current market statistics.
There are 90 homes listed for sale in Wallingford PA and Nether Providence Township on April 26, 2016 with an average asking price of $362,075.
Freddie Mac economists are still upbeat about the housing market’s outlook for the rest of the year, despite recent data that showed a gloomier first quarter in economic growth than originally projected. According to Freddie Mac’s April outlook, housing will “maintain its momentum in 2016 and be an economic engine of growth.”
Freddie Mac economists made the following predictions for the remainder of 2016:
- Employment: The labor market is expected to stay strong. The unemployment rate is projected to drop back below 5% for 2016 and 2017. “Stronger economic growth for the remainder of 2016 and reduced slack in the labor market will drive wage gains above inflation, though the gains are likely to be modest,” Freddie’s report notes.
- Mortgage originations: Loan originations are estimated to rise by $50 billion in 2016 and reach $1.7 billion. The forecasted boost is a result of low mortgage rates that are fueling a refinancing boom.
- Mortgage rates: Low mortgage rates are expected to stick around longer. The 30-year fixed-rate mortgage averaged 3.7% in the first quarter. “After lowering the forecast for subsequent quarters by a tenth of a percent, expect rates to average 4% in 2016,” Freddie Mac researchers note.
- Housing prices: Home prices will rise by 4.8% in 2016 and by another 3.5% in 2017, Freddie Mac researchers predict. These rising home prices will lead home owners’ to see more equity gains.
| AVERAGE | MEDIAN | LOW | HIGH | DOM* |
|---|---|---|---|---|
| $362,075 | $349,950 | $59,900 | $1,050,000 | 111 |
| AVERAGE | MEDIAN | LOW | HIGH | DOM* |
|---|---|---|---|---|
| $430,062 | $390,000 | $110,000 | $1,050,000 | 101 |
| AVERAGE | MEDIAN | LOW | HIGH | DOM* |
|---|---|---|---|---|
| $164,026 | $169,900 | $59,000 | $389,900 | 140 |
*DOM = Days On Market
8 Wallingford PA homes went under contract
10 new listings came onto the market
No listings expired
1 listing was withdrawn from the market
56 homes are Under Contract at this time
1 Wallingford PA home sold last week
| ADDRESS | BED | BATH | PRICE | SETTLED | DOM* |
|---|---|---|---|---|---|
| 733 Hemlock Road | 4 | 4.1 | $696,500 | 04/20/16 | 6 |
| Average | $696,500 | 6 |
Wallingford PA Real Estate – Wallingford, PA 19086
