Real Estate Market Snapshot Table For Tredyffrin Township comparing the Number of Homes For Sale in Tredyffrin, Homes Under Contract, Homes Sold, New Listings that came on the market, the Residual Inventory (homes already in the market place or “backlog”), the Median For Sale Price for Tredyffrin and the Median Under Contract and Median Sold Price for Tredyffrin Township for this three year period beginning in May 2007.

The Tredyffrin Real Estate activity chart I prepared below may help you see the market activity across this three year period while the Real Estate Market Dynamics Graph above illustrates the effects of this market on the Median Price History for the period and illustrating the segment of the market with the greatest home sale activity.

Keep in mind that market activity trails by at least 30 days, since the average time between a sale and settlement is between 30 and 60 days.  Look for my  Second Quarter Real Estate Market Statistics coming in the 2nd week of July.

383 Homes Sold in Tredyffrin Township in the last 12 Months!

Ready to buy a home in Tredyffrin or the Chester County Main Line Pa area? You need my expert Real Estate Pricing Analysis before you buy a new home or sell your current home. I can help! Don’t pay too much or sell for too little! Call Judy Peterson 610-889-5509 voice mail or 484-431-7195 mobile, for answers to ALL of your real estate questions

*All Data Courtesy of TRend MLS and Terradatum is deemed accurate but not guaranteed and subject to errors and omissions.

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Our First Quarter Real Estate Market Report for Tredyffrin Township shows that the Median For Sale Prices dropped 2% from $479,900 in March of 2007 to $469,900 in March of 2009

The Median Under Contract Price dropped 8% from $458,000 in March of 2007 to $420,000 in March of 2009.

The Median Sold Price for Tredyffrin Township for this time period dropped 18.8% from $400,000 in March of 2007 to $325,000 at the end of the First Quarter March 2009.

The Months Supply of Inventory is the real story for most of our area. The picture for Tredyffrin Township is an encouraging one. While the Months Supply of Inventory was 3.3 Months in March of 2007, the increase was only a 3.3% change to 6.7 Months Supply of Inventory. This is still a Buyer Market but not a really strong Buyers Market. The MSI is up 101% but the Days on Market is only up 29% from 56 DOM in 2007 to 72 DOM in March of 2009, a 16 day increase. All things considered, I’m going out on a limb here, but that looks like a positive direction to me, especially when compared to some other Townships.

Overall the Average Days On Market in Tredyffrin Township has dropped significantly from the high of 103 DOM in December of 2008 to 72 DOM in March of 2009.

48 Homes were sold in Tredyffrin Township in the First Quarter of 2009. So homes are selling, especially if they are well priced, staged and in good, neutral showing condition.

This is a good time to consult with a Professional Realtor (like me about Staging Ideas or to hire a Professional Stager. And, of course you want to have high quality Real Estate Photography that enhances your home’s best qualities while appealing to what buyers are looking for in this market.

Contact or Call Judy Peterson, 610-889-5509 for a free pre-listing evaluation of your home’s best selling features and ask about my “450 Ideas To Get Your Home Sold”. I’ll bring it with me for you on my prelisting evaluation.

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Tredyffrin Township Median Sold Price Update

Our Comparison between February 2008 and February 2009 shows a real estate market where the Median Sold Price is up 31% (from $344,000 to $450,000) and the Median For Sale Price is down 8% in a comparison of February of this year to last year (from $490,000 to $449,450) as shown in this graph with green representing the median sold price in Tredyffrin, red being median homes for sale price and blue being median homes under contract price.

Tredyffrin Supply and Demand Number of Homes For Sale, Sold

1. On the Supply and Demand Side of our Tredyffrin Real Estate Market Report the number of Homes For Sale in Tredyffrin is down 11% (from 233 to 208).
   
2. Tredyffrin Homes Under Contract in February of 2009 compared to February of 2008 is down 50% (from 38 to 19).
3. The number of homes sold in Tredyffrin in February of 2009 as compared to February of 2008 is down 61% (from 18 to 7).
4. and the number of Expired Listings is up 8% compared to February of 2008 (from 25 to 27).

Tredyffrin Real Estate Months Supply of Inventory and Days On Market

Tredyffrin Township Months Supply of Inventory in February of 2009 is up 91% from February of 2008 (from 4.5 months to 8.5 MSI) and the Tredyffrin Real Estate Market Days On Market is up 125% from February 2008 (from 42 DOM to 95 DOM). With the gray bars on this graph representing the MSI and the broken blue line representing the DOM for the period of February 2008 to February 2009.

The bright spot for the first of the year real estate picture in Tredyffrin is that the MSI is down from January of this year. The Months Supply of Inventory in January 2009 was 15.1 Months Supply of Inventory and has dropped to 8.5 Months Supply of Inventory in February 2009. However the Days on Market has increased from 85 DOM in January 2009 to 95 DOM in February 2009.

*data courtesy of Trend and Terradatum is deemed accurate but not guaranteed

When you need the most reliable real estate information and  the best real estate market advantage to get your property marketed and sold for the highest price in the least amount of time in Chester County and the Main Line Pa area,  Contact or call me, 610-889-5509, Judy Peterson, Tredyffrin Real Estate Specialist with Prudential Fox and Roach Realtors. We’ll get it right the first time with “Superb Service and Superb Results”

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440 Homes Sold In Tredyffrin Township, Chester County Pa In 2008. Our one year comparison between December 2008 and December 2007 shows that the Median For Sale Price is up 9%, while the Median Sold Price for a home in Tredyffrin Township is down only 3%.*The key for the statistics is Green equals median sold prices, red median for sale prices and blue, median under contract prices.

And while it’s a good sign that the residual inventory (back log) is dropping, there’s a message in the For Sale Price increase and the Median Sold price Decline. Remember, it’s just a short 30 days til the Spring Market and more competition.

Tredyffrin Months Supply of Inventory Drops Dramatically:

The real story for Tredyffrin is in the Months Supply of Inventory comparison between December 2007 and December 2008. The Months Supply of Inventory for December 2007 was a whopping 20.1 months but December 2008 shows a much healthier 11.6 Months Supply of Inventory.

However the Days On Market have increased from 49 DOM to 103 DOM. In part, this is our Typical Winter post holiday slump that’s reflected by the increase in the Days On Market.

New Listings and Homes For Sale Needed:

Those of us working with Buyers who want to live in Tredyffrin, are keenly aware that the Tredyffrin homes for sale inventory needs an infusion of new listings that are priced right and in good condition.

The homes still on the market need a new fresh approach to get ready for the Spring Market. Sellers thinking of getting off the fence? I have some great ideas to help you get your home sold.

• Tredyffrin Homes For Sale Median Price-up 9% from $449,450 to $489,900 in 2008
• Tredyffrin Homes Sold, Median Price-down 3% from $339,500 to $330,000 in 2008
• Expired Listing Median Price up 45% from $344,900 in 2007 to $498,450 in 2008

Tredyffrin Real Estate Supply and Demand-Homes For Sale, Homes Under Contract, Homes Sold and Expired Listings:

• Tredyffrin Number of Homes For Sale–dropped 9% from 216 to 197 in 2008
• Tredyffrin Homes Under Contract-up 56% from 9 to 14 in December 2008
• Tredyffrin Homes Sold–down 15% from 26 in 2007 to 22 in December 2008
• Expired Listings in Tredyffrin–down 23% from 26 in 2007 to 20 in 2008

Tredyffrin Months Supply of Inventory and Absorption Rate:

• Tredyffrin Months Supply of Inventory drops from 20.1 MSI to 11.6 MSI in 2008
• Tredyffrin Days On Market is up from 49 DOM to 103 DOM in 2008
• Residual Inventory For Tredyffrin is down 12% from 163 to 143 in December 2008.

*Data courtesy of Trend MLS and Terradatum is deemed accurate but not guaranteed.

EMail or Call 610-889-5509, Judy Peterson, Realtor Prudential Fox and Roach Realtors Devon Home Marketing Center with ALL your real estate questions. Ask for my “450 Ideas For Sellers To Get Your Home Sold” or my “PreListing Custom Walk Through Service” for Sellers to help you get ready to be sold, even in a tough market. Sorry, it’s the law, only available to Home Sellers not already listed for sale.

Related Articles of Interest:

Chester County Real Estate Market Report

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