About Delaware County, PA

Main Line Real Estate Stats for Radnor Township Q4-2007 | Main Line Homes

01-28-08

Main Line Real Estate - Christopher Benedict

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Office: (610) 935-3200

Mobile: (484) 433-3931

In the Radnor Township section of the Main Line, the housing market data from October 2007 to end of September 2007 showed some surprisingly similar results to those of Lower Merion, as compared to the negative data we have been bombarded with from the main stream media. Then again, nothing sells like bad news, except worse news.

The lowest sales price for a home in Radnor township was $120,000 with the highest selling home (or should I say Main Line Mansion) sold at $3,142,955.

If you are thinking of buying a home on the Main Line, better get out your checkbook and get ready to pay. The average (yes, AVERAGE!) listed price for homes on the market was $742,842. That means half of the homes on the market for sale were for higher than $740,000, and half lower. And to think, I was worried about paying for my three kids' college funds!

The positive news: The average days on market (DOM) was 66 days, just 15 days more than the previous quarter in 2007.

Market Statistics

Courtesy Of : Christopher Benedict 484-433-3931
RE/MAX Main Line 610-935-3200

Monthly Statistics for the Date Range Selected

Date	Units Listed	Listed Volume	Listed Average	Pended	Units Sold	Sold Volume	Sold Average	Average DOM
Dec 2007	17	17,369,400	1,021,729	13	14	14,413,206	1,029,514	84
Nov 2007	15	19,849,700	1,323,313	10	18	11,237,605	624,311	90
Oct 2007	46	58,547,530	1,272,772	23	23	15,205,537	661,110	36

Totals:	78	95,766,630	1,227,777	46	55	40,856,348	742,842	66

Pricing Details of Sold Units for the Date Range Selected

Minimum Prices	Maximum Prices	Average Prices
Original List Price : $139,900	Original List Price: $2,998,630	Original List Price: $769,586
Sold Price : $120,000	Sold Price: $3,142,955	Sold Price: $742,842

Inventory Accumulation figures are only calculated when Report End Month is the current month

Market Statistics Criteria Used
Date Range:	10/2007 to 12/2007
Price Range:	$0 to $9,999,000
Property Category:	Residential
Area:	Radnor

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Come home to "The Woods" in Radnor PA

01-23-08

Kate Hart

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Office: (610) 293-6814

Mobile: (610) 564-6760

Today our firm had the opportunity to stage a lovely home on the Main Line in Radnor Township Pennsylvania. The home is located in award winning Radnor School District and in a popular family friendly neighborhood. It is also minutes away from dining and shopping in downtown Wayne and a short drive to Philadelphia. Below is a RES showcasing the many selling features and ammenities this home offers. If you are interested in viewing the home in person please contact Debi Sugarman at Prudential Fox & Roach Devon at 610-651-2700.

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December Housing Statistics for Delaware County PA

01-07-08

David F Joslin, Jr

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Office: (610) 565-9292 x205

Mobile: (610) 517-8249

Delco's housing trend update...

The number of units listed for sale is down an incredible 41% over the number of units listed in November '07. More interesting is that the number of units listed is down 20% when compared to December '06.
Oddly enough the Average list price is up about 5% over November ‘07 and up 1.5% over December '06
The number of units SOLD is also down 20% from 482 in November '07 to 389 in December '07.
The Average SOLD price is also up 8.5% over last month and is down about 1% over December '06.
The Average Days on Market is up 6.5% over November ‘07 and up 1.5% over December '06, in this case up in not good, that is why it is red.

Traditionally the market is much slower during the holidays in December but considering the number of units listed for sale in Delaware County was down 41%, 673 units were listed in November '07 and dropped to 403 units listed in December '07, I'd say that sellers went into hibernation! It appears that the months of negative publicity a wee bit o egg nog and the perception of dramatic declining pricing has sunk into to the minds of those buying and selling near halting the new listing inventory.

SELLERS- Again, if you are thinking about putting your house on the market now is the time to set your goals on being ready for the spring market. Target mid to early March to be ready, tick tock you have three months to prepare your home. And please take the time to really prepare your home. Meet with a Realtor and develop a plan for marketing and staging your property to really make it stand out. Don't delay because I said so, if you are ready to sell and planned to be on the market right now, don't stop. Buyers are still out there looking especially in homes priced between 150K up to 300K they just have the luxury of being a bit more discerning.

BUYERS- Do your homework. Meet with your mortgage representative and Realtor to plan your home buying process. Be sure to give yourself a timeline and a goal. If things seem to be a bit slow or frustrating give yourself time to step away and regroup, refocus and get back into the home search. Also Mr. and Ms. Buyer, make sure you put yourself into a financial position that will work for your budget.

For those of you who have to sell a house in order to buy another home, please be sure to meet with your accountant and mortgage representative, understand your financial position, know what you need to have monetarily in order to buy your next home and then meet with your Realtor and discuss your marketing and purchase plan. This will allow you all to be perfectly clear about your position and what needs to happen to make a move. Remember to just be prepared for buying and selling real estate in a transitional market.

See Ya!
David Joslin

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

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Seller's Disclosure- Let's Be honest!

10-30-07

Barbara Berue

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Office: (267) 238-3380

Mobile: (610) 513-8900

I recently had a buyer put an offer in on a property and we had a home inspection done. Now of course, there was a seller's disclosure given to the buyer, but....obviously not an honest one.

The inspection happened to be the day after a local rainfall. And although the seller stated there were no known water leakage issues except 10 years ago, one bedroom ceiling and another bedroom rear wall, the kitchen and powder room walls were WET. Bubbling WET.

Now there had been some old water stains on some of these locations when we first looked at the home, however the seller stated that the roof had been replaced this year.

Is the buyer supposed to believe that there was no deceit in this disclosure? How could the seller not have known about that much water coming in the home? These were my buyer's questions, of course.

I believe that if a seller is going to list a property, they should walk the property and realize what issues will need to be addressed. Maybe even have a home inspection done prior to the listing.

Do sellers or their listing agents realize that by not being honest about the obvious, they will end up with a lawsuit on their hands? This is definetely a party we don't want to be invited to!

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