A weekly review of recently sold homes in Wallingford PA and current market statistics.
There are 24 homes listed for sale – 13 Active listings and 11 Active Under Contract listings – in Wallingford PA and Nether Providence Township on November 9, 2021 with an average asking price of $513,405.
Both pending sales and bidding wars dropped in September, perhaps leading to a more balanced market as 2021 winds down.
The National Association of Realtors® reported that contract signings dropped 2.3% from August to September, and signings were down 8% year over year. In the Northeast section of the U.S., pending home sales fell 3.2%, down 18.5% from the same time last year. Dr. Lawrence Yun, NAR’s chief economist, said some buyers are temporarily pausing their home search, waiting for more inventory. Additionally, mortgage rates, which reached record lows earlier this year, have been slowly rising, also having an impact on buyers. By the end of 2021, NAR predicts home sales will have risen 6.4% compared to 2020, and that sales will decrease 1.7% in 2022 due to mortgage rates. Price-wise, homes are expected to grow 2.7% in 2022, compared to 14.7% in 2021.
Not surprisingly, Redfin reported that bidding wars were at the lowest rate so far this year in September. The report found 58.9% of home offers in the company had competition. This is down from a peak of 74.3% in April, and down nearly 2% from August. This is the fifth consecutive month of decreases. The report blamed low inventory for less competition, pointing out that new listings fell 9% from the previous September, and homes went under contract in 18 days on average, more than a week faster since a year prior.
View all Nether Providence Twp Homes For Sale
View all Homes Listed In The Last 7 Days
4 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No listings were withdrawn from the market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
38 homes are Under Contract at this time
2 Wallingford PA homes sold last week
|800 Avondale Road #4L||CONDO||3||2.0||$185,000||11/01/21||37|
|916 Twyckenham Road||SNG||4||2.1||$855,000||11/02/21||7|
Neither home sold with a Seller Assist:
Wallingford PA Real Estate – Wallingford, PA 19086