January 2009 Housing Statistics for Delaware County Pennsylvania

By
Real Estate Sales Representative with GoldStar Real Estate Services

The housing market in Delaware County...

  • The number of units listed for sale dropped like a cinder block through a paper bag, down 48.8% over the number of units listed in January '08. Oddly enough the units listed for sale are up 61% over the number of homes listed in December 2008.
  • The Average list price is down just over 15% over December '08 list price and is down 25.6% over the January '08 average list price.
  • The Average SOLD price is down 1.8% over December ‘08. The year over year increase in the SOLD price, this year, January ‘09 compared to January '08: the SOLD Price is down 8.9%.  
  • The Average Days on Market increased to 87 days, a 10.1% increase over last month's 79 days on market average. January ‘08 87 days on market is up 25% over January 2008 66 days on market average.
  • The adjusted home sales for 2008 - 5369 houses sold in Delaware County in 2008

The housing market continues on a wild ride and for the most part people have no idea what to do. New home buyers will continue to enter into the market and account for a good bit of the purchasing, while they may still continue to face lending issues.

Sellers who are under water, upside down or facing foreclosure will see no alternatives for a while, unless somehow some way they can negotiate with their banks to keep them a float. Cash based Investors are methodically buying homes well below market and continuing to build portfolios for the future. Good news is that some major banks have decided to put a halt on Foreclosure proceedings at least until March. Rental units are becoming harder and harder to find, so right now investors are in a great position!

- DJ

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

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the pants to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Location:
Pennsylvania Delaware County

Comments 0 New Comment

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the tag to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the cloud to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Rainer
20,030

David F. Joslin Jr.

Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the graph to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information



Find out what's going on in the local Delaware County Pennsylvania Real Estate Market. Get tips, insight and general info as seen from the side of local real estate professional.