What constitutes an “average” home sold in Wallingford during the past year? The following statistics were derived from Nether Providence Township home sales data as recorded in the MLS.

We welcomed 221 new Wallingford PA homeowners to our community in 2017. This represents an increase of 7 homes sold when compared to 2016. Overall these 221 new owners paid an average price of $348,849, a 15.5% increase compared to the 2016 average price of $302,059. There was a total of $77,095,532 of real estate transferred in Nether Providence Township in 2017.

Single family homes accounted for 177 of the 221 sales, condos 22 sales, townhomes 19 sales, twins 8 sales, and row homes 2 sales.

Single family homes sold for an average price of $404,317, condominium buyers paid an average of $105,805, townhouse buyers paid an average of $199,608, and condominium buyers paid an average of $105,805.

 2017 AVERAGE PRICE BY HOUSING TYPE

 2017 DAYS ON MARKET BY HOUSING TYPE

 2017 SALES BY PRICE RANGE

78 sellers paid out a total of $620,703 in Seller Assists, with an average assist of $7,958 – the largest Seller Concession was $40,500.

Wallingford PA homes sold in 2017 had an average age of 57 years, with 10 homes sold that were past the century mark – the oldest being 207 years old.

On average the home configuration consisted of  3.4 bedrooms, 2.7 bathrooms – 1.9 full and .80 half baths. Three bedroom homes were the most prevalent topping the list with 82, followed by 74 four bedrooms, 31 two bedrooms, 26 five bedroom, 5 one bedroom, and 3 six bedroom homes.

On the price spectrum, one new homeowner paid $65,000 on the low end of the scale, while the high price topped out at $875,000.

Colonials topped the style list with 127 homes, followed by 25 Cape Cods, 24 ranchers, and 19 contemporaries.

For taking the winter chill off 115 homes have a fireplace, 28 have two fireplaces, and 6 have 3 plus fireplaces. For primary heating 112 homes have gas heat, 69 utilize oil heat for warmth, 29 have electric heat, and 11 homes warm their homes via heat pumps.

Meals are prepared in a kitchen ranges fueled by natural gas in 43% of homes – 96 homes, but electric cooking is found in the majority of homes – 56%.

Garages are a feature in 65% of homes sold – 144 homes. Forty nine homes have a 1 car garage, 89 have a 2 car garage, 5 have a 3 car garage, and 1 home has a 4 car garage.

Central air cools the residents of 193 homes, and 11 owners can enjoy the summer outdoors in their own swimming pool – 1 home sold had an indoor swimming pool.

The largest home had 7,678 square feet of interior space, while the smallest came in at 625, the average home was 2,171 square feet.

There were 166 homes – 75% – that have full basements and 22 homes with partial basements.

Homes having a condominium or HOA fee paid an average of $282 in monthly fees.

The foreclosure mess is on the decline evidenced by just 5 Bank Owned proprieties being sold.

Alas our new neighbors are assuming an average 2017 tax bill of $$9,257. One lucky buyer is paying a budget busting tax bill of $25,062. Eighty homes – 36% of the total – have a real estate tax burden exceeding the $10,000 threshold.

Take a look at all 221 Wallingford homes or Wallingford towhouses/condos that sold in 2017.

Wallingford PA Real Estate – Wallingford, PA 19086

Horsham based luxury home builder Toll Brothers has been among the nation’s firms paying 35% a year in taxes on it’s corporate profits, the top corporate rate. Included in the currently proposed revisions before Congress in the country’s tax code is a call to cut the top rate to 22% or lower.

What is a company to do with such a windfall?

Toll recently reported  sales and profit results for the fiscal year 2017 with net income totaling $535.5 million, or $3.17 a share, up from $381 million and $2.18 a share the year earlier. Annual revenues topped $5.8 billion, a 12% increase, while the company delivered 7,151 housing units to buyers, up 17%.

Is Toll going to back up the Republican claim that a cut in the corporate rate will trickle down to consumers?

Apparently not.

Douglas C. Yearly, Toll Brothers CEO, was asked in a recent investor conference call after Toll’s earnings were posted.

“What would you do with that extra $100 million to $150 million” from lower U.S. income taxes?

The CEO responded that Toll Brothers estimated the savings more conservatively at $80 million to $100 million next year.

“We don’t have any particular direction for that cash,” Yearley said.

Toll officials said the company plans to keep growing but also will be paying more to investors and top executives by repurchasing more shares to drive the price up, and by continuing the dividend that Toll started paying shareholders last year.

A $80 – $100 million dollar savings by Toll Brothers alone, which is not among the list of corporate giants, gives you an idea of the breadth of this corporate tax cut.

So not much will be trickling down after all – sounds more like a trickle up.

Full article: Philadelphia Inquirer – December 6, 2017 – Luxury Homebuilder Toll Bros.: Sales rise, tax overhaul ‘a wash’ for upscale buyers

Wallingford PA Real Estate – Wallingford, PA 19086