So how did it go in Delaware County real estate last year? - Pretty Good!
Although there has been a wide variation in activity throughout the county and townships, the overall market has continued to strengthen.
From January 1 2015 through January 4 2016, there were 6,122 reported sales on the MLS. This compares to only 5,465 at the beginning of last year, a rise of over 12%. Likewise, pending sales have grown from 622 in 2015 to 660 in 2016, an increase of 6%. Active/For Sale home inventory has also decreased from 2,580 active lisitngs to 2,507 homes, a fall of over 2.5%.
This looks even more promising when compared to the depth of the market in 2011. On January 4, 2012, there were 3,142 homes on the market (25% higher), 480 homes pending ((27% lower), and there had only been 4089 sales in 2011 (33% lower).
Based on the local market and economy, it appears that we should have another solid year in 2016. This could be disrupted, however, depending on the major potential economic and political impacts currently developing around the world.
Call me if you are interested in more information on the market in your particular area.
Long & Foster Real Estate Inc – Devon, PA/Wilmington, DE
Office: 610-225-7400/Direct: 610-618-0808
(All statistics per the TrendMLS system and believed accurate but not guaranteed)