Radnor Township Real Estate Market-2nd Quarter 2008
July 7th, 2008 Categories: Delaware County, Market Trends
Radnor Township, Delaware County Real Estate – 2nd Quarter 2008 Market Report*
Real Estate Median Sold Price indicators for Radnor Township shows a drop in the Real Estate Median Sold Price between June of 2006 and June of 2008 of (3.28%). The peak Median Sold Price for Radnor Township occurred May 2007 at $865,000. The comparison between May 2007 peak and June of 2008 shows a Median Sold price decline of (29.48%). Higher Months Supply of Inventory and Average Days on Market, may, in part be attributed to more high end new construction inventory in Radnor Township. The following chart illustrates the Months Supply of Inventory and the average days on market for Radnor Township during this two year period. The blue dotted line represents average days on market.
Median Sold Prices for the two year period beginning June 2006, Supply and Demand in Units for Sale and Supply and Demand in Units Sold as well as The Months Supply of Inventory and the Average Days on The Market give us a good Market Trend Snapshot of the Real Estate Market in Radnor Township:
Radnor Township Delaware County Real Estate ~ 4 Key Indicators Period of June 2006-June 2008:
- Median Sold Prices: June 2006 = $630,000, June 2007 = $472,500, June 2008 = $610,000
- Supply and Demand Units For Sale: June 2006 – 236 for Sale, June 2007 – 232, June 2008 – 262
- Supply and Demand Units Sold: June 2006 – 36, June 2007 – 48, June 2008 – 32
- The Months Supply of Inventory: June 2006 – 4.9 Mos., June 2007 – 6.4 Mos.,June 2008 – 9.0 Mos
- Average Days On The Market: June 2006 – 31DOM, June 2007 – 58 DOM, June 2008 – 80 DOM
*All data courtesy of Trend MLS and Terradatum is deemed accurate but not guaranteed
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