Delaware County Pennsylvania Luxury Housing Market Update October
Delaware County, Pennsylvania - October The real estate market is always changing, and if you re buying or selling a home especially a luxury property it s critical to understand the current market conditions. More than simply seeing what s happening to real estate as a whole in your local area, you need insights on what s taking place in the highend market, specifically with uncommon and unique homes like yours or those for which you re shopping. That s why Long & Foster publishes our exclusive LuxInsight report giving consumers like you invaluable information on the luxury market performance in your local area. Published monthly, LuxInsight provides you with A broad overview of real estate trends in the high-end real estate market. From median sale prices and active inventory to the current housing Demand and available active listings, LuxInsight gives you access to essential statistics you need to know. Beyond this valuable market information, Long & Foster s team of luxury sales associates is available to guide you through the real estate process. We believe luxury real estate is all about the individual, and when you work with us, you'll receive an experience tailored to your unique needs. You'll enjoy exceptional service and expertise, provided by agents who specialize in marketing and selling the most stunning luxury homes. You'll gain our exclusive connections around the world and get a luxury home experience with proven results. AT A GLANCE Active Inventory 8 New Listings 37 Units Sold Median Sale Price $99,274 1 9 8 7 6 5 4 3 1 O-14 J- A- J- O- A- O- A- O- 4 35 3 25 1 5 O-14 J- A- J- O- A- O- A- O- $1,9, $1,7, $1,5, $1,3, $1,1, $9, $7, O-14 J- A- J- O- A- O- A- O- Down -.5% Down -24.5% No Change Down -1.2% 2
Delaware County, Pennsylvania - October Compared to last October, the total number of homes more than $75, available this month was lower by.5% and lower by.8% compared to October. Active inventory this October was 6.2% lower than the previous month s supply of available inventory. Total Inventory INVENTORY PRICE RANGES $75K + 9.52% $75K - $2M 8.27% $2M - $5M 1.% $5M+.1% 3 ACTIVE INVENTORY 25 237 223 5 1 7 213 238 258 245 249 247 27 247 242 8 7 231 247 277 264 259 246 239 249 249 232 5 1 212 229 241 245 2 8 3 211 8 1 5 Jan- Mar- May- Jul- Sep- Nov- NEW LISTINGS & NEW CONTRACTS New Listings New Contracts ACTIVE INVENTORY Versus Previous Years 1 9 8 7 6 5 4 3 1 44 21 49 21 37 26 3 25 1 5 247 249 8 3
Delaware County, Pennsylvania - October This month's total units sold for homes more than $75, is similar compared to a year ago. There was a decrease of.% in luxury units sold in October compared to September of this year. 18 14 UNITS SOLD Versus Previous Years 4 UNITS SOLD 35 3 25 1 5 11 9 21 32 38 22 9 12 11 26 31 37 24 22 13 7 13 28 35 25 Jan- Mar- May- Jul- Sep- Nov- 2 Sold Date City Zip Code RECENT SELECTED LUXURY SALES Final List Price Final Sale Price Sale Price as % of List Price October 31, Newtown Square 73 $875, $835, 95.4% 76 September, Garnet Valley 6 $79,9 $892,182 125.7% 354 September 14, Glen Mills 342 $899, $875, 97.3% 112 September 12, Newtown Square 73 $86, $84, 97.7% 93 September 28, Newtown Square 73 $795, $775, 97.5% 62 August 28, Chadds Ford 3 $1,8, $1,65, 88.9% 1 August 8, Newtown Square 73 $929, $89, 95.8% 1 August 24, Media 63 $925, $885, 95.7% 55 August, Glen Mills 342 $89, $875, 98.3% 35 August, Media 63 $774, $76, 98.2% 8 DOM Buyer Long & Foster Represented Seller 4
Delaware County, Pennsylvania - October In October, the median sales price for homes more than $75, was $99,274, a decrease of 1.2% compared to last year. The current median sales price was higher by 1.9% than in September. $94, $9, $9, $88, $86, $84, $8, $865, MEDIAN SALES PRICE Versus Previous Years $9,627 $99,274 $2,, MEDIAN SALES PRICE $1,8, $1,6, $1,4, $1,826,75 $1,, $1,, $8, $6, $4, $95, $878, $1,62,5 $988,75 $94, $1,5, $912,5 $91, $1,87,45 $89,263 $1,, $9, $865, $97, $844,857 $1,4,875 $939,75 $97, $982,5 $9, $89, $937,45 $99, $9,627 $1,48,322 $1,, $913,141 $89, $1,37, $969,9 $993,5 $9,5 $899,9 $977,45 $892,182 $99,274 $, $ Jan- Mar- May- Jul- Sep- Nov- $45,, $4,, $35,, $3,, $25,, $,, $,, $1,, $5,, $ $25,867,789 TOTAL DOLLAR VOLUME SOLD $18,131,5 $,139,445 $,99,448 Jan- Mar- May- Jul- Sep- Nov- Total volume sold this October was 1.4% lower than the same month one year ago. 5
Delaware County, Pennsylvania - October In October, the average sale price for homes more than $75, was 98.3% of the average list price, which is 7.2% lower than at this time last year. This month, the average number of days on market was 78, lower than the average last year, which was 1, a decrease of 32.2%. 11% % 1% 95% 9% 85% 93.9% 94.5% SALE PRICE AS % OF LIST PRICE.5% 98.3% 3 25 1 5 141 114 99 94 1 11 59 71 84 91 79 65 53 52 DAYS ON MARKET 92 253 6 49 Jan- Mar- May- Jul- Sep- Nov- 77 87 73 135 1 94 92 89 124 1 3 78 96 77 71 96 78 MONTHS OF SUPPLY In October, there were 12.4 months of supply available, compared to.6 in October of. That is a decrease of.5% versus a year ago. 14 1 1 8 6 4 11.9 13.1 11.5.4 23. 14.2 11.3 13.6 7.7 6.6 11.2.9 13. 26.9 1.4.3 1.5.5 25.2 1.2 8.4 6.7 6.6 1.4.6 1.6.8 13.4 3.3.6.1 8.8 6.6 5.9 5.4 8.4 12.4 Jan- Mar- May- Jul- Sep- Nov- 6
Delaware County, Pennsylvania - October References & Definitions DELAWARE, PA: LISTING SOURCE, REPORTING AREA, & DEFINITION Based on data supplied by the TREND MLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. This report includes coverage for the county of Delaware, Pennsylvania only. Analysis dates for all regions are October 1, 14 through October 31,. MEDIA CONTACT Vicki Bendure, Bendure Communications Email: Vicki@bendurepr.com Phone: (54) 687-3 Contacts & Disclaimers CREATED BY Michael Bystry, Long & Foster Real Estate, Inc. Senior Market Research Analyst DISCLAIMER "Information contained in this report is based on data provided by the local area Multiple Listing Service and its member Association(s) of REALTORS. No representation, expressed or implied, should be taken from information herein. Neither these organizations nor Long & Foster Real Estate, Inc. guarantee or are in any way responsible for the accuracy of these results, which do not reflect all activity in the marketplace. For more information regarding your specific market, contact one of Long & Foster s knowledgeable and experienced sales associates. Analysis dates are October 1, 14 through October 31,. Information contained in this report is not limited to transactions done by Long & Foster Real Estate, Inc. The data reported is solely for residential real estate transactions. Information contained in this report is deemed reliable but not guaranteed, should be independently verified and does not constitute an opinion of Long & Foster Real Estate, Inc. # 1 Seller of Luxury Homes in Mid-Atlantic based on data provided by local area Multiple Listing Services and their member Associations of REALTORS. For more information regarding your specific market, contact one of Long & Foster s knowledgeable and experienced sales associates. Analysis dates are October 1, 14 through October 31, ". Material appearing in this report may be reproduced or copied without permission. Please use the following acknowledgement for citation: Source: Long & Foster Real Estate, Inc. and also cite the appropriate MLS. 7