A weekly review of recently sold homes in Wallingford PA and current market statistics.
There are 13 homes listed for sale – 8 Active listings and 5 Active Under Contract listings – in Wallingford PA and Nether Providence Township on May 17, 2022 with an average asking price of $412,054.
A year ago, the great majority of American homebuyers despaired over the state of the housing market. Prices had hit record highs. There were so few homes for sale that lines for open houses stretched for blocks and move-in ready places in desirable areas were receiving dozens of offers – and prompting soul-crushing bidding wars. It couldn’t possibly get any worse, right?
Wrong, actually! Fast-forward a year, and there are even fewer homes for sale, prices have continued their upward trajectory, and mortgage interest rates are shooting up at a breakneck pace.
The result: The real costs of homeownership – the actual payments buyers need to make each month, made up primarily by mortgage and principal costs, along with property tax and insurance – are skyrocketing. And this has severely diminished the buying power of most wannabe homeowners.
Someone purchasing the same home today will spend about 1.5 times more on their mortgage bills than they would have just one year earlier. To be clear, home prices alone haven’t risen anywhere near that high. And sellers generally aren’t pocketing that much extra cash through bidding wars. What’s happening is the higher home prices and rising rates have inflated monthly mortgage payments by about 50% in just one year.
View all Nether Providence Twp Homes For Sale
View all Homes Listed In The Last 7 Days
9 Wallingford PA homes went under contract
5 new listings came onto the market
No listings were withdrawn from the market
No listings were temporarily taken off the market
No listings expired
41 homes are Under Contract at this time
2 Wallingford PA homes sold
|700 Scott Lane||SNG||3||1.1||$430,000||05/09/22||6|
|1000 Putnam Blvd #602||CONDO||3||2.0||$169,000||05/13/22||2|
Neither home sold with a Seller Assist:
Wallingford PA Real Estate – Wallingford, PA 19086