David F Joslin, Jr

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

March Housing Market Update for Delaware County Pennsylvania

Consumer confidence is at an all time low. Job losses in March were the highest is years, topping 80,000. And this means is that the housing market is also feeling the lack of confidence as home buying in Delaware County Pennsylvania is feeling the crunch. Since last month Delaware County has taken a slide and home sellers may not like the stats. Here is what the TRENDMLS numbers are telling us about last month...

• The number of units listed for sale is up, just under 11% over the number of units listed in February '08. However listings are down about 13% over the number of homes listed in March 2007.
• The Average list price is down about 11% over February ‘08 and down 8.9% over March '07, a nice increase in pricing
• The Average SOLD price however is down 12.5% over February 2007 and the discouraging news is that the SOLD price from last year was down 7.6% over March '07.
• The Average Days on Market decreased to 78 days, a 2.5% decrease. However, the 78 days on market average is up 16.4% over March 2007 days on market of 67, so properties are sitting out there longer.

Until consumers gain confidence, the numbers may not be favorable for sellers. As we always proclaim the home is worth what the buyers are willing to pay. Not good news for the home sellers as they may need to have a greater amount of patience. The three big items for home owners to remember is price, location and condition. If they are all in line with the market competition you may need to sit tight and wait for the right buyer.

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

A great place to live, work or visit, Media PA has so much to offer. From the Summer time festivals, shopping, restuarants, music, arts scene and the year round activities, it is a place that has something for everyone, That's why they call it Everybody's Hometown!

 Take a look at a video I put together...

All the best

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

Can you feel it?

Not sure if buyers and sellers alike are starting to recognize it yet but I can tell you the market is starting to wake up. Activity on listings is starting to pick up as showings have increased over the past week and a half and dare I say it. I even heard talk of bidding wars on some recently listed homes! If this the same black cloud market the national press is talking about, not here, not now. The Philadelphia Inquirer did a story on the Delco market and touched bidding wars and hot open houses right here in Media.

Don't get me wrong Mr./Mrs. Seller, Home Buyers still have the upper hand as the inventory will need time to even out but do realize this the market is not going to bear over priced homes even in the best condition. If you feel your home is the "best on the block" you need to do is price your home right at or even below recent home sales and then list your property and see what happens. If the buyers agree you may just find yourself in the middle of a bidding war for your home and if the buyers don't show you may need to think about the price, condition, and location and see if it is priced right.

Buyers are out there and they all want a deal. The combination of the right price, condition and location for a buyer may just be right for a great deal.

Happy Buying and Selling

All the best