Last week we held a seminar at Easttown Library at which we covered some recent market stats for Tredyffrin and Easttown Township homes.
There are currently 140 homes on the market priced between $350,000 and $1.5 million. Average price of these listings is $691,238. The average days on market to sell a home last month were 106. That means that of all the homes sold in January the average time it took was 106 days. there are currently about 32 homes selling a month in the two townships so it will take about 4 months to sell the current inventory if no other homes are listed. And over the last 12 months there were 148 homes that did not sell and their listings either were withdrawn or expired without being relisted.
Now each market segment will vary by price segment and if you would like more detailed stats relative to your own home or a home you are considering purchasing please contact us.
Overall we have seen prices ease in our area, but homes are selling when priced correctly. There are buyers out looking spurred on by the low interest rates but they really need motivation to act and take the next step. Homes need to be in good condition, with updated bathrooms and kitchen, adjusting the price for older kitchens and baths is not causing buyers to move. Further buyers are being selective following home inspections, so maintenance is important as well. This all being said we are having success with homes selling and reaching settlement.