Archives for February 2015

Wallingford PA and Nether Providence Township welcomed 208 new homeowners to the area in 2014, and recording an increase in the number of home sold of 18 properties over 2013, which is a 8.7% increase in units. The average selling price in 2014 was $301,079 which is down from $315,327 in 2013, representing a 4.5% drop. It took on average 98 days to find a buyer in 2014.

The 208 sales represent the best year in terms of homes sold since the peak of the market in 2007 when 219 homes settled.

Just over $53,000,050 in sales were the result of 153 single detached family homes that changed hands in 2014. The average selling price for this predominant category was $346,406 down 3.1% from 2013. Single family homes were the took an average of 94 days to sell. The first million dollar plus property sold in 7 years settled in February for $1,150,000.

Wallingford townhomes were the next most popular choice among area buyers last year with 23 sales and an average selling price of $267,257 up a healthy 22.9% from last year’s average of $217,448. Days on market for townhomes was slightly above the overall average coming in at 100. Joining with these new townhome owners in maintenance free living were 16 condo buyers who paid an average price of $106,594, shelling out between $74,500 and a high of $147,500 for their new condos.

There were 18 distressed property sales with 13 bank owned foreclosure sales, putting the local rate of foreclosures at 6.3%, and 5 short sale properties that sold in 2014.

There were 11 twin homes purchased in 2014 selling for an average price of $136,764.

The average Wallingford home sold in 2014 had on average 3.4 bedrooms and 1.76 full baths – with one home having 8 bedrooms, 5.2 baths.

Sellers were marketing homes which on average were 59 years old, with 3 being brand new construction and the oldest still standing at 263 years old. Basements were found in 163 homes (78%) and 131 homes (63%) had fireplaces with 26 homes having 2, and 8 having 3 or more hearths.

The home with the largest parcel reported at 4.8 acres and the predominant home style was most a colonial, of which 115 were sold (55%), along with 27 Cape Cods, 26 ranchers, 10 contemporaries, and 3 bungalows.

Buyers received a seller assist from 32% of sellers during the year, ranging from $500 to $13,500 with the average seller assist coming in at $6,279.

Square footage averaged 1,969 among those with reported square footage data in the MLS, with the smallest home sold having 625 square feet of interior space, and the largest coming in at 7,569 square feet. Single homes averaged 2,146 square feet in size, townhomes coming in at 1,855 square feet, and condos averaging 1,006 square feet.

New residents inherited an average tax bill of $8,067, with one lucky new resident having a tax bill of $23,376. Buyers paid cash in 59 of 2014’s transactions.

While not the time to think of cooling off right now 162 homes reported having central air (77%) and 9 homes had outdoor pools. On the heating side 113 homes (55%) are heated with gas, 63 (31%) by oil, and 23 dwellings keep warm via electric heat. In the kitchen electric cooking was predominant being present in 58% of homes, gas cooking was found in the other 42% of homes sold.

Wallingford PA Real Estate – Wallingford, PA 19086