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Sage Local market Analysis (through April 28, 2008)

By
Real Estate Broker/Owner with Sage Realty LLC RM419313

For the 30 days ending April 28, 2008 in the 3 nearest townships, there were 68 single family and twin homes that settled.  The average discount off the original asking price rose slightly to 93.6%, staying close to the discounts seen over this spring selling season.  Four homes sold for 100% or more of their asking prices. Sixteen sold for 98% or more of asking price. There was no clear reason for the few homes selling with the largest discount this month-they varied by price and age. The tendency to offer seller concessions continued, with four paying in the $10,000 range and one paying $15,000.  These could include amounts for repairs of payment of some of the buyers' closing costs.

Days on the market varied significantly from 1 to 548, with 15 homes selling in less than 11 days. The average of 68 days is down from last month.


*This report is based on the Trend Multiple Listing statistics reported by the selling agents under an agreement that requires compliance. The statistics can therefore be deemed as accurate as available. (Days on the market can be skewed if the listing is taken off the MLS and re-listed with a new date.)


The chart below gives a broader view of all residential home sales (including townhouses and condos) in the 3 surrounding counties for March of this year compared to one year ago.  Totals are off but the discounts are not significantly deeper.  Days on the market statistics demonstrate that we are not at the point that we were last year when a third to a half of homes sold within 30 days.

Residential Homes            
Settled March 2008          
      Days On market
  Total Homes Sold Avg Sold Price/Original Price 0-30 31-60 61-90 91+
Delaware County 411 92% 37% 17% 12% 34%
Montgomery County 553 93% 34% 15% 14% 37%
Chester County 332 92% 30% 13% 15% 42%
             
             
             
             
      Days On market
  Total Homes Sold Avg Sold Price/Original Price 0-30 31-60 61-90 91+
Delaware County 535 94% 46% 16% 10% 28%
Montgomery County 757 94% 40% 14% 15% 31%
Chester County 459 95% 35% 14% 15% 36%

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