Sage Local Market Analysis (through March 26, 2008)

Latest Market Statistics for Radnor, Tredyffrin and Easttown Townships*

For the 30 days ending March 26, 2008 in the 3 nearest townships, there were 47 single family and twin homes that settled. The average discount off the original asking price remained about 92%, the same as the last two months. Six homes sold for 100% or more of their asking prices. Older homes and a few (but not all) of the newly-constructed houses had the largest discount this month. Of note was the increase in the number and amount of seller concessions offered, many in the $10,000 range. These could include amounts for repairs of payment of some of the buyers' closing costs.

Days on the market varied significantly from 1 to 548, with 13 homes selling in less than 30 days. The average of 89.7 days is up slightly from normal for this area.

The chart below gives a broader view of all residential home sales in the 3 surrounding counties for February of this year compared to one year ago. Totals are off but the discounts are not significantly deeper.

*This report is based on the Trend Multiple Listing statistics reported by the selling agents under an agreement that requires compliance. The statistics can therefore be deemed as accurate as available. (Days on the market can be skewed if the listing is taken off the MLS and re-listed with a new date.)