The home sales rate in the Delaware County Pennsylvania real estate market continues to be constrained by a very low inventory.
The 2023 Delaware County PA home sales rate appears to be reduced due to a very low inventory. Active inventory has continued to fall on a yearly basis for the last five years. Even though home sales activity year to date has fallen 27%, inventory has fallen an additional 16% rather than rising as would be expected.
Delaware County Home Sales Activity as of June 15 by year:
| Year | Active | Pending | Sold thru 6/15 |
| 2023 | 522 | 624 | 2241 |
| 2022 | 610 | 968 | 3070 |
| 2021 | 650 | 1298 | 3090 |
| 2020 | 986 | 720 | 2249 |
| 2019 | 1416 | 1026 | 2675 |
| 2018 | 1839 | 1306 | 2841 |
| 2013 | 3322 | 949 | 2583 |
(All statistics per the BrightMLS System and believed accurate but not guaranteed)
Compared to the pre-Covid rate 5 years ago in 2018, the numbers are even more dramatic. Sold homes have fallen by 21% while active inventory has fallen by 71%. Compared to 10 years ago, the active inventory has fallen by over 80%.
After years of unusually low interest rates, it appears that many potential home sellers either cannot afford to or do not want to give up their very low rates. Even if they would like to move, with inventories this low, many cannot find a suitable new home to buy. Despite the higher interest rates, it remains a sellers market in most areas throughout the county.
For more details about sales in 2022, check out the 2022 Delaware County summary:
As always, if you have any questions, please do not hesitate to contact me anytime.
David Henke
Long & Foster Real Estate, Inc
Devon PA / Wilmington DE
Office:610-225-7400 / Direct:610-618-0808
www.DelawarePAHomes.com
(All statistics per the BrightMLS System and believed accurate but not guaranteed)
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