Delaware County homes for sale inventory continues to climb while prices remain steady.
Although pricing continues to hold up well on a year to year basis with both average and median prices maintaining their levels seen over the last several years, all other indicators continue to struggle.Year: Homes on the Market | Homes under Contract | Homes Sold
2011: :3801 658 828
Inventory continues to build on a relative basis. Total current Delaware County homes on the market inventory just crossed the 3800 homes threshold today. The 3801 homes on the market today is over 8% higher than at the same point last year. This is rapidly closing in on the top inventory level of just over 3900 homes seen last September and the highest level reached over the last ten years.
Although the numbers are a bit misleading due to the tax incentives in place for 2010, the homes currently under contract have fallen 38% from this point last year. In addition completed home sales have fallen 11% from 926 homes in 2010 to only 828 homes sold year to date in 2011.
With the continuing low interest rates and high inventory, this remains an excellent market for buyers, but the uncertain economy continues to hold back confidence allowing buyers to move forward. Activity remains solid so by summer with a normal pickup in activity, the market could still pick up some ground to help stabilize both prices and activity levels.
Long & Foster Real Estate Inc – Newtown Square,PA/Bear, DE
Office: 610-225-7400/Cell: 610-618-0808