Since the last update in March 2013, Stonewold home pricing and activity have continued to slowly strengthen.
In 2013, as expected, Stonewold prices did continue to strengthen just a bit as the year progressed. There were 8 sales for the year with an average sales price of $664,000 (up 2% from the 2012 $651,000 average). Average days on the market did expand as it took time for the overpriced listings to come down to earth and go under contract.
In 2014 year to date, the Stonewold market has sustained it's strength with four properties placed under contract since June 1. There are currently 2 properties on the market with an average list price of $694,000, 4 homes under contract with an average asking price of $712,000, and one property did settle for $825,000. The average days on the market has also dropped dramatically with the one sold being on the market for only 8 days and the four under contract on the market for an average of 44 days. (The 2 actives average 73 DOM)
Considering the average list price for the properties on the market and under contract, the average sales price is expected to rise for 2014. With 5 properties under contract or sold, we could also match or surpass the 8 property sales pace of 2013.
In the future, Stonewold should continue to be a top choice in the area for those looking for newer construction in an easily accessible area. Prices are also expected to remain stable.
As always, please contact me anytime with questions.
Long & Foster Real Estate, Inc - Wilmington, DE/Devon, PA
(All statistics per the TrendMLS System and believed accurate but not guaranteed)