Lower Merion,Radnor,Willistown-Two Mops For MSI
October 28th, 2009 Categories: Chester County, Delaware County, Market Trends, Montgomery County
Months Supply of Inventory/Absorption Rate:
*Lower Merion Township, Radnor Township and Willistown Township have earned two Mops for their Months Supply of Inventory and Days on Market for September 2009 as compared to September 2007. Of course the market will look a lot healthier when the volume of Sold and Under Contract transactions begins to move in a more positive direction.
|
Township |
DOM |
MSI |
#Sold |
| Lower Merion |
102 (+38%) |
10.9 (+8%) |
-14% |
| Radnor |
97 (+90%) |
8.9 (-25%) |
Level |
| Easttown |
71 (+107) |
8.9 (-3%) |
-56% |
| Willistown |
57 (+51%) |
7.8 (-36%) |
-21% |
| West Goshen |
58 (-10%) |
5.7 (-11%) |
-33% |
| East Goshen |
50 (-43%) |
4.5 (-32%) |
-4% |
As you can see Lower Merion Township (Montgomery County) has the highest Days On Market, 102 DOM and the highest Months Supply of Inventory at 10.9 MSI, an increase of 8% over September of 2007 with Radnor Township (Delaware County) following close behind. In part, a backlog of New Construction, Luxury Home Styles and a higher median sale price are the main reasons.
West Goshen and East Goshen Township are really normal looking, balanced real estate markets.
Chester County Real Estate Supply and Demand Numbers:
Number of Transactions For Chester County as a whole are down for September 2009 as compared to September 2007:
- For Sale -3%
- Under Contract -3%
- Sold -17%
We generally define a balanced market as being between 5 Months and 6 Months of Inventory. Although, as with Tredyffrin Township, we can attribute some of drop in inventory to properties having been withdrawn from the market.
*All data courtesy of Trend MLS and Terradatum is deemed accurate but not guaranteed.
Contact or call Judy Peterson, 610-889-5509, Prudential Fox and Roach Realtors Devon Home Marketing Center.
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