June Housing Statistics for Delaware County Pennsylvania

Summer time is here so what better time for flip flopping. It seems that Delaware County is giving mixed signals to the real estate market. The residential resale statistics are up and down. Since thee days on market has continued to increase dramatically over last year we really need to look at the big picture in order to see what is happening around Delco. As the national media toughts the big slide in the real estate market our area is still trying its hardest to remain steady. Let's look at the numbers and see whats happening...

• The number of units listed for sale is down 2.05% over the number of units listed in May '08. June '08 listings are also down about 23% over the number of homes listed in June 2007.
• The Average list price is also down just under 6% over May ‘08 but is up 6% over June '07 average list price.
• The Average SOLD price is up 12% over May ‘08 a nice surprise for the market but a slight reality check is that the SOLD price this year compared to June of ‘07 is still down about 1%.
• The Average Days on Market increased to 68 days, a 2% increase over last months 66 days on market average and is up 47% over June 2007 days on market of 46, ouch.

Buyers are definitely taking their time in making a decision for the purchase of their new home, which is frustrating to most sellers. Only time will tell but the numbers are indicating that overall sold prices are up 6% over this time last year which in not bad considering many national stories of the steep decline in real estate values. Make sure you look at the big picture to get the true residential resale market statistics; it will help in understanding what type of market we are in. Delaware County seems to be holding its ground in this topsy-turvy market, know your numbers and you will be armed with the knowledge to make the decision that is right for you!

All the best

DJ

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