Delaware County Pennsylvania Luxury Housing Market Update March 218
Delaware County, Pennsylvania - March 218 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 22 New Listings 2 Units Sold 1 Median Sale Price $826, 3 28 26 24 22 2 18 16 14 M- J- S- D- 1 9 8 7 6 4 3 2 1 M- J- S- D- 4 3 3 2 2 1 M- J- S- D- $1,9, $1,7, $1,, $1,3, $1,1, $9, $7, M- J- S- D- Down -12.6% Down -3.% Down -23.1% Down -39.7% 2
Delaware County, Pennsylvania - March 218 Compared to last March, the total number of homes more than $7, available this month was lower by 12.6% and lower by 18.2% compared to March 216. Active inventory this March was 13.% higher than the previous month s supply of available inventory. Total Inventory INVENTORY PRICE RANGES $7K + 11.91% $7K - $2M 1.8% $2M - $M 1.71% $M+.12% 3 ACTIVE INVENTORY 2 2 1 213 238 28 24 249 27 242 28 27 231 277 264 29 246 239 249 249 232 2 21 212 231 24 248 24 211 19 213 197 179 163 166 178 22 Apr- May- Jun- Jul- Aug- Sep- Oct- Nov- Dec- NEW LISTINGS & NEW CONTRACTS New Listings New Contracts ACTIVE INVENTORY Versus Previous Years 1 9 8 7 6 4 3 2 1 61 78 May- Jul- Sep- Nov- 37 8 33 2 11 3 2 2 1 231 22 3
Delaware County, Pennsylvania - March 218 This month s units sold for homes more than $7, was lower than at this time last year, a decrease of 23.1% versus last March and a decrease of 33.3% versus March of 216. There was an increase of 66.7% in luxury units sold in March compared to February of this year. 2 1 UNITS SOLD Versus Previous Years 13 1 4 UNITS SOLD 3 3 2 2 1 21 19 32 38 22 17 19 9 2 12 11 26 31 37 24 16 22 13 7 13 28 2 18 21 24 12 6 1 Apr- May- Jun- Jul- Aug- Sep- Oct- Nov- Dec- 2 Sold Date City Zip Code RECENT SELECTED LUXURY SALES Final List Price Final Sale Price Sale Price as % of List Price March 3, 218 Newtown Square 1973 $899, $847, 94.2% 194 March 2, 218 Glen Mills 19342 $79, $7, 94.3% 312 January 29, 218 Bryn Mawr 191 $1,, $967, 96.8% 4 January 22, 218 Glen Mills 19342 $1,, $94, 9.% 176 December 8, 217 Newtown Square 1973 $2,2, $2,17, 96.7% 21 December 8, 217 Bryn Mawr 191 $1,37, $1,37, 1.% 8 December 27, 217 Bryn Mawr 191 $8, $8, 1.% 1 December, 217 Garnet Valley 196 $81, $81, 1.% 4 December, 217 Media 1963 $82, $77, 93.9% 196 November 7, 217 Ardmore 193 $799, $79, 98.9% DOM Buyer Long & Foster Represented Seller 4
Delaware County, Pennsylvania - March 218 In March, the median sales price for homes more than $7, was $826,, a decrease of 39.7% compared to last year. The current median sales price was lower by 1.1% than in February. $1,, $1,, $, $ $939,7 MEDIAN SALES PRICE Versus Previous Years $1,37, $826, $2,, MEDIAN SALES PRICE $1,8, $1,6, $1,4, $1,826,7 $1,2, $1,, $8, $6, $4, $1,, $912, $91, $1,87,4 $89,263 $1,16,2 $9, $86, $97, $844,87 $1,4,87 $939,7 $97, $982, $9, $89, $937,4 $99, $92,627 $1,48,322 $1,, $913,141 $89, $1,37, $969,9 $993, $917, $877,4 $977,4 $892,182 $919,18 $84, $931,2 $94,77 $83, $826, $2, $ Apr- May- Jun- Jul- Aug- Sep- Oct- Nov- Dec- $4,, $4,, $3,, $3,, $2,, $2,, $,, $1,, $,, $ $17,76,814 TOTAL DOLLAR VOLUME SOLD $17,72,867 $17,628,664 $8,3,3 Apr- May- Jun- Jul- Aug- Sep- Oct- Nov- Dec- Total volume sold this March was 1.6% lower than the same month one year ago.
Delaware County, Pennsylvania - March 218 In March, the average sale price for homes more than $7, was 98.4% of the average list price, which is 3.8% higher than at this time last year. This month, the average number of days on market was 1, higher than the average last year, which was 1, an increase of.%. 11% 1% 1% 9% 9.3% 9% 8% May- Jul- Sep- SALE PRICE AS % OF LIST PRICE Nov- 97.6% 94.6% 98.4% 3 2 23 DAYS ON MARKET 2 1 91 3 9 71 2 99 94 6 84 92 176 49 1 77 87 73 13 1 94 91 89 124 1 3 78 96 83 71 96 14 Apr- May- Jun- Jul- Aug- Sep- Oct- Nov- Dec- 6 63 82 74 1 MONTHS OF SUPPLY In March, there were 2.2 months of supply available, compared to 17.8 in March of 217. That is an increase of 13.% versus a year ago. 14 12 1 8 6 4 2 14.2 11.3 13.6 7.7 6.6 11.2.9 13. 26.9 1.4 17.3 1. 16. 2.2 1.2 8.4 6.7 6.6 1.4.6 1.6.8 13.4 3.3 17.8 16.3 8.9 6.7.9.4 8. 1.9 8. 6.8 13.8 29.7 2.2 Apr- May- Jun- Jul- Aug- Sep- Oct- Nov- Dec- 6
Delaware County, Pennsylvania - March 218 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 March 1, 2 through March 31, 218. MEDIA CONTACT Vicki Bendure, Bendure Communications Email: Vicki@bendurepr.com Phone: (4) 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 March 1, 2 through March 31, 218. 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. For more information regarding your specific market, contact one of Long & Foster s knowledgeable and experienced sales associates. Analysis dates are March 1, 2 through March 31, 218". 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