November 2009 Housing Statistics for Delaware County Pennsylvania

The housing market in Delaware County...

• The number of units listed for sale Decreased a 37.2% over the number of units listed in October '09 and is UP 6.6% over the number of homes listed in November ‘08.

• The Average list price is DOWN 17.5% over October 2009 list price and is DOWN 9.5% over November 2008 average list price.

• The Average SOLD price is DOWN 4.8% over October 2009 which is the fourth consecutive decline. The year over year increase in the SOLD price, this year, November 2009 compared to November 2008: the SOLD Price is down 9.3%.

• The Average Days on Market INCREASED to 90 days, a 2.3% INCREASE over last month's 88 days on market average.

• November showed 587 homes sold in Delaware County compared to the 526 homes sold in October 2009, an increase of 10.4%.

‘Tis the season for the housing market to take a little nap. The number of homes typically decreases this time of year and they have. Lower number of listings will affect the supply and demand, which may help move the inventory currently on the market. Buyers continue to look for the deals and Seller must realize that they need not be insulted on low ball offers. As long as the homes are priced in line with the market values and desirablility, the homes will sell.

Life happens and so real estate, whether high or low, will continue to sell. It's 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. This is a residential home sales report for single family homes valued between $1 and $9,999,000