May 2009 Housing Statistics for Delaware County Pennsylvania

The housing market in Delaware County...

• The number of units listed for sale dropped 15% over the number of units listed in April '09 and is down 20% over the number of homes listed in May ‘08.

• The Average list price is up .008% over April 2009 list price and is up 11% over May 2008 average list price.

• The Average SOLD price is up 7% over April 2009. The year over year increase in the SOLD price, this year, May 2009 compared to May 2008: the SOLD Price is down 5%.

• The Average Days on Market decreased to 93 days, a 7% decrease over last month's 99 days on market average.

• May showed 391 homes sold in Delaware County over the 355 homes sold in April 2009.

SO what do I think about the market? Listings are down and days on the market are down which means a little bit less to choose from on the buyers side, which also may account for the slight increase in sold prices. So it is a classic case of supply and demand, as the inventory reduces the pricing increases. Don't get too crazy on me though, this is in no way a turning point in the market, it is going to be like this for a few more months as we teeter back and forth adjusting to the public perception of the economic state we are in.

Life happens and so real estate, whether high or low, will continue to sell. Its all just part of how you look at it.

- DJ

*statistics derived from TrendMLS provider of multiple listing services to the real estate community of Delaware County and many other surrounding counties