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Wallingford-Swarthmore School District - January 2013 Market Report
The first month of the new year saw a slight increase in home sales over 2012 (12 in 2013 vs. 10 in 2012) as well as some of the "older" inventory being settled. With that, we are starting the new year off with no "short sales or foreclosures" in January nor is anything currently scheduled to settle through April as a "distressed property".
Why is that important to note? Well, as we have seen in some areas with high distressed property sales, when it comes to future consumers looking to buy in those areas, the distressed property sales drive prices down even on homes that are not distressed. It's unfortunate for many homeowners and especially for those that have had to experience a distressed sale firsthand but a reality in today's market and I'm sure we will get even more cleared out in 2013 and reach a better balance in home sales.
That being said, I am slightly surprised at the variance between the original list prices and the sold prices for the homes sold in January. This has been a bigger spread than we have seen in a while and I feel it it important to be mindful of this.
Pricing your home right is one of the key factors in getting your home sold for the best price. Trends show that homes that start off unrealistically high actually sell for less than they would have if they were price right from the start. And with the market looking more and more positive for seller's (inventory dropping, home values starting to rise, interest rates poised to rise), there is a delicate balance between striving for a better market value vs. pricing it too high that an good Realtor will know.
Real estate market data for the Wallingford-Swarthmore School District provided by Mike Reyman of Prudential Fox & Roach Realtors.
If you are considering selling your home and would like to know how your home compares to similar homes that sold in the recent past, simply visit my website at For Sale in Delaware County and request a CMA. I would be happy to provide it free of charge for you.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.