February 2008 Housing Statistics for Delaware County PA

Delaware County's housing trend update.

The national media is still killing buyer and seller perception of the market conditions in our area but at least we received a recent boost from the Philadelphia Inquirer stating that of all places in our area, Media PA was one of the best markets right now. So here is what TRENDMLS statistics are telling us about last month

• The number of units listed for sale is down, just under 6% over the number of units listed in January '08. However listings are up about 5% than the number of homes listed in February 2007.
• The Average list price is up about 8% over January ‘07 and up 12.5% over February '07, another increase in pricing
• The Average SOLD price however is down 3% over January 2007 but the somewhat good news again is that the SOLD price was up almost 3 % over February '07 sold prices.
• The Average Days on Market increased to 80 days, a 21% increase, ouch. That is also about the same increase over last years February 2007 days on market of 67, so properties are sitting out there a bit longer.

Activity has been on the rise this month already and the market is looking for a nice boost with Springtime right around the corner. Happy Buying and Selling.

See Ya!

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