A weekly review of recently sold homes in Wallingford PA and current market statistics.
There are 19homes listed for sale – 11 Active listings and 8 Active Under Contract listings – in Wallingford PA and Nether Providence Township on October 19, 2021 with an average asking price of $502,272.
Where have all the starter homes gone? The heart of the problem is the near disappearance of the classic American starter home – the smaller, more affordable, entry-level abodes that have long been the sweet spot of first-time buyers. Homes that would seem to fit the bill, at least in terms of size and amenities, are often now listed at wildly prohibitive price points, even in a time marked by record-low mortgage rates.
It has ushered in an era of high stress and unprecedented challenge for first-time buyers, eager to jump into their initial real estate purchase.
In stark terms, the problem is that there simply aren’t enough entry-level homes to go around—and their numbers are shrinking. While there is a severe housing shortage overall, the supply of starter homes has been slashed by more than half in the past five years, according to Realtor.com® listing data.
So what’s going on? And when will it get better? The Realtor.com data team decided to take a deeper look at what’s leading to the disappearance of these homes across the nation, and what areas of the U.S. are hardest hit.
While there is no single definition of a starter home, it is generally considered to be less than 2,000 square feet with a lower price tag that makes it available to traditionally cash-strapped, first-time buyers. For this analysis, our data team looked at any home (including single-family homes, condos, and townhomes) under 1,850 square feet.
There were only 300,000 starter homes on the market in September. The roughly 72 million millennials, aged 25 to 40, make up more than a third of house hunters scouring the market right now. This unprecedented demand, exacerbated by the COVID-19 pandemic and dwindling supply, is driving up prices, pushing starter homes further out of reach.
View all Nether Providence Twp Homes For Sale
View all Homes Listed In The Last 7 Days
4 Wallingford PA homes went under contract
1 new listing came onto the market
No listings were withdrawn from the market
No listings were temporarily taken off the market
1 listing expired
47 homes are Under Contract at this time
7 Wallingford PA homes sold last week
|220 Stanford Drive||SNG||4||2.1||$475,000||10/12/21||4|
|2 Arthur Court||SNG||3||3.0||$585,000||10/14/21||13|
|101 Beech Road||SNG||3||1.1||$340,000||10/14/21||7|
|704 Scott Lane||SNG||3||1.1||$351,000||10/14/21||75|
|848A Putnam Blvd||CONDO||2||1.0||$165,000||10/15/21||4|
|1007 Putnam Blvd||TOWN||2||2.1||$228,000||10/15/21||11|
|824 Meredith Drive||SNG||4||3.1||$775,000||10/15/21||7|
2 homes sold with a Seller Assist:
– 220 Stanford Drive – $7,450
– 704 Scott Lane – $2,700
Wallingford PA Real Estate – Wallingford, PA 19086