Main Line Pa Homes For Sale Absorption Rate Report
March 28th, 2009 Categories: Delaware County, Financial, Home Sellers, Market Trends, Montgomery County
Radnor Township Real Estate, Haverford, Lower Merion and Upper Merion Townships Real Estate Absorption Report February 2009
The Main Line Pa Real Estate Absorption Rate Report comparison February
2008 to February 2009. Comparing our four Lower Main Line Pa area Townships (Radnor, Haverford, Lower Merion and Upper Merion) for the Months Supply of Inventory, Days On Market, Residual Inventory (backlog) and New Listings On Market.
As I was preparing this Absorption Rate Report, I saw a tick up in the Median Listing price for some lower Main Line Pa Townships.
This would not be a good time to be increasing the Listing prices beyond what’s indicated by recent comparable sold prices and market conditions.
We’re far from being out of the swamp yet, as some of these numbers indicate.
|
Township |
MSI |
DOM |
Residual |
New List |
|
Radnor |
4/15 |
86/50 |
120/128 |
34/40 |
|
Haverford |
3/7 |
61/99 |
117/175 |
64/68 |
|
Lower Merion |
7/17 |
69/135 |
349/400 |
119/102 |
|
Upper Merion |
8/7 |
37/98 |
94/113 |
36/25 |
I’m speculating that high end new construction projects could be skewing some of these numbers, but if new listing prices rise and there’s little or no correction for residual inventory pricing, we’ll be looking for more powerful images than paper towels to represent the soak up Months Supply of inventory.
PS ~ Update On Stats Minus New Construction: for example, Lower Merion stats for resales, not including new construction shows Months Supply of Inventory 7/14, Days On Market 69/124, Residual Inventory 346/321 and New Listings 119/96 comparison of February 2008 to February 2009.
Are you a Seller with an Expired Listing? Like to have a professional Comparative Market Analysis and a Marketing Plan to get your home sold? Want to see your home as a “Featured Home For Sale” on Main Line Pa Today? Contact or call 610-889-5509, Judy Peterson today. Judy Peterson is your Chester County Main Line Pa Real Estate Expert. Real estate marketing with “Superb Service, Superb Results”!
