January Housing Statistics for Delaware County Pennsylvania

Delaware County's housing trend update.

The media is killing buyer and seller perception of the real estate market conditions in our area. If they want to dissect neighborhoods there may be a variation up or down but overall the market is not sliding downward, if anything it is still moving upward.

• The number of units listed for sale is up, way up, an astounding 123% over the number of units listed in December '07. However that is 3% less than the number of homes listed in January 2007.
• The Average list price is up about 10% over December ‘07 and up 2% over January '07, a minimal increase in pricing
• The Average SOLD price is down 2% over December of 2007 and the somewhat good news is that the SOLD price from last year was up about 2% over January '07.
• The Average Days on Market was virtually FLAT with a slight change from December ‘07 (65 DOM) to January '08 (66) - Days On Market (DOM) and up only two days from 64 to 66 over January of 2007.

Let's get some perspective on the housing market and take a look at the average sold prices over the past four years in Delaware County...

YEAR AVERAGE SOLD PRICE
2004 $227,248
2005 $247,865
2006 $251,535
2007 $267,609

So Since 2004 the average sale price of a home in Delaware County has increased about 16% percent. Now that certainly looks like an increase to me.

Yes, foreclosures are up across the country as well as in our county, but, the foreclosure process takes a very long time so those going into foreclosure started doing so months and months ago, if not a year or so.

I wish the media would just print the statistics. We are subject to the doom and gloom headlines all of the time when in fact the media could be directly causing buyers not to buy and sellers not to sell. The media could in fact be responsible for the consumer confidence level being so low and a direct factor in why people are not spending money. Oh the sky is falling the sky is falling, give me a break. Enough is enough. Don't believe the hype. If you are looking to buy or sell ask your local professional to provide you with some of these stats, if that is what you are looking for, if not, put your house up for sale or go buy a new one and live your life according to you and not the media.

See Ya!
DJ