A recent review of residential sales in Swarthmore Borough, Delaware County, Pennsylvania revealed some interesting trends.
85 Units Listed
$37,835,200 Listed Volume
$445,120 Listed Average (County-wide average = $284,008)
70 Units Sold
$28,399,200 Sold Volume
$405,702 Sold Average (County-wide average = $247,855)
44 Average DOM (County-wide Average = 39)
101 Units Listed
$42,093,587 Listed Volume
$416,768 Listed Average (County-wide average = $301,078)
62 Units Sold
$25,772,888 Sold Volume
$415,691 Sold Average (County-wide average = $251,868)
50 Average DOM (County-wide Average = 48)
Several things jump out at me when I look at these numbers:
Swarthmore homes sell for considerably more than the county average:
2005: Swarthmore sales 64% higher than County-wide average
2006: Swarthmore sales 65% higher than County-wide average
Swarthmore homes sale prices are much closer to list price than the county average:
2005: AvgSale$ / AvgList$ = 91.1% (County-wide = 87.3%)
2006: AvgSale$ / AvgList$ = 99.7% (County-wide = 83.7%)
Swarthmore homes DOM compares closely to County-wide average:
2005: 5 additional average days on market
2006: 2 additional average days on market
Swarthmore Homes slightly outpaced county-wide average sale price increase:
Swarthmore change in average sales, 2006/2005 = +1.025%
County-wide change in average sales, 2006/2005 = +1.016%
What does all this mean for you?
If you are a Seller in Swarthmore, you should feel slightly encouraged by these numbers. In an otherwise "flat" market, Swarthmore homes performed better than the county averages. (But as a resident of Swarthmore, you already know that you live in an area that is "above average" -- it is nice to know that Buyers recognize this too.)
If you are a Buyer looking to buy a home in Swarthmore, you should also feel good about these numbers. There is a decent selection of homes to look at, and the fact that homes sell so close to asking price means in part that the prices are appropriate for the market, and you can concentrate less on price and more on the actual amenities that the homes in this wonderful community offer. You can also be comforted that you are making a good investment in a community that outpaces the rest of the local market.
If you are interested in Buying or Selling a home in Swarthmore, Delaware County, PA, please contact me. I will be happy to provide you an analysis of your home's place in today's market, or give you a personal tour of this beautiful town.