Bright MLS December 2023 Delaware County PA Residential Housing Report
Showing Time, using Bright MLS statistics, has released its Local Market Insight report for single-family homes in Delaware County, Pennsylvania through December 2023. This report allows us to compare all of 2023 to 2022.
If you would like more information about this or any other County or any specific municipalities in the Delaware Valley, please contact me or visit my website, AndrewWetzel.com. I am only a phone call, an email or a text away! I respond promptly to all inquiries....
Year-Over-Year Statistics (2023 compared to 2022):
As far as the statistics, there were 6586 new “For Sale” listings through December 2023 compared to 7747 through December 2022, a decrease of 15.0%. There were 5563 “closed” sales through December 2023 compared to 6983 through December 2022, a decrease of 20.3%. These are obviously huge changes. The median selling price through December 2023 was $315,000, up 5.0% from one year ago. The decline in the number of newly listed properties impacted the number sold while slightly increasing their selling prices. Again, this was County-wide and may not reflect your local experience.
Month-Over-Month Statistics (December 2023 compared to December 2022):
In December 2023: the number of new listings was 275, down 14.3% from last December 2022 (321). The number of “active” property listings was 512, down 13.0% from one year ago (532). The Days on the Market (DOM) was 25 (22 YTD) and the “Sold to List Price” ratio was 97.6% (100.1% YTD). The “Months of Supply” (MSI) was 1.5 months, down 10% from one year ago, still a strong “sellers’ market”.
The decreased inventory combined with pricing and demand have created our current market although the impact of higher interest rates, even if historically low, remains to be seen. Again, these numbers vary throughout the County: the underlying data shows a wide range of results in all categories among the 49 different municipalities in Delaware County....
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Remember, when it comes to selling or buying what is likely your biggest asset and largest overall investment in money, time and effort,
There is no time for inexperience, empty promises or false expectations!
HIRE WISELY: We are not “all the same”!
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If you would like information about Delaware County PA or any other County/ specific municipalities in the Delaware Valley, please contact me or visit my website, AndrewWetzel.com.
I am only a phone call, an email or a text away! I respond promptly to all inquiries.
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Please remember, when thinking about selling or buying what is likely your biggest asset and largest overall investment,
There is no time for inexperience, empty promises or false expectations!
HIRE WISELY: We are not “all the same”!