What’s The Latest Market Information for
Swarthmore Real Estate?
Six years after the Real Estate bubble blew, no one can agree on what’s the future for home sales. Business week suggests that we may be hitting bottom but still expects a lack luster year (http://www.businessweek.com/magazine/content/09_26/b4137028238311.htm?chan=magazine+channel_top+stories). The Wall Street Journal can’t exactly agree either http://live.wsj.com/video/video/shiller-discusses-latest-housing-data/1FDAC2F7-7C92-40D2-868D-C508D7DDDD71.html#!1FDAC2F7-7C92-40D2-868D-C508D7DDDD71.
Keep this in mind; Real Estate is a local thing. While the data nationally is teetering between we hit bottom and we’re not quite there yet, local markets do show signs of hitting bottom and in some cases starting to rebound.
During the last six years, the number of homes sold in Swarthmore Borough between January first and June thirtieth has been fairly constant with the exception of the 45% decline in 2009 and the 63% increase this year.
So far this year 42 homes have sold in Swarthmore. The average days on the market was 100 ith the median days on the market at 40. The average days on the market after a homes last price adjustment was also 40 days. The Median sales price was $288,000 with the average sales price coming in at $331,000. Average list price to sold price ratio was 93% and the median list to sold price ratio was 95%.
If your buying a home in Swarthmore take note, 72% of all homes sold within 91% of the listing price. There were only two homes that sold for less than 80% of list price. Hoping to buy a home with a really low bid? Not in Swarthmore.
Are you going to sell your home in Swarthmore this year? How to price it? While the stats show good sales ratios buyers are not being generous with their pocketbook either. Keep this in mind. The average days on the market was 100 days. The median days on the market was 40 days and most importantly, the average days on the market after the last price adjustment was also 40 days. If you hit day 41 on the market and your not sold, you need a price adjustment.
Questions? Confused? No worries. If you are looking to make a move to or from Swarthmore Borough email or call me. I’d be glad to show you more.
If you would like to search available homes for sale in Swarthmore, or follow the Swarthmore Real Estate Market by signing up for my free Market Insider report just visit my homepage -
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