April Housing Statistics for Delaware County Pennsylvania

Overall the month to month statistics are beginning to rebound and patience may be the hottest commodity on the market this year. Delaware County has hit a slide over last year but your need to look at the whole picture to see that the market is trying its hardest to come back. Home sellers may not like the stats right now but sit tight. Here is what the TRENDMLS numbers are telling us about last month...

• The number of units listed for sale is up, just over 12% over the number of units listed in March '08. However listings are down about 9% over the number of homes listed in April 2007.
  
• The Average list price is up about 11% over March ‘08 and down 7.7% over April '07 a little troubling on the year-to-year sales but a nice month-to-month increase in pricing
  
• The Average SOLD price is up 11.7% over March 2008 and still discouraging is that the SOLD price from last year was down 2.5% over April '07.
  
• The Average Days on Market decreased to 76 days, a 2.6% decrease. However, 76 days on market average is up 33.9% over April 2007 days on market of 57.

This is the home buying and selling season and despite the low consumer confidence there were still more homes listed in April than in March so the home buyer inventory is out there. The numbers may still not be favorable for sellers and the market buyers will dictate what the home is worth and sellers need to be faced with the reality of having to accept a lower than expected sale price in this type of market. Patience is going to be needed by all involved in the real estate market as the fast and furious pace of years past is just that the past!

See Ya!

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