It is always interesting to see how Tredyffrin and Easttown Townships measure up against each other each quarter. Easttown usually has far less sales of single family homes due to the difference in size of the two townships, but higher prices per square foot over the last year and prior to this has been consistent.
The last quarter is no different.
Easttown had 34 homes sold, average days on market was 84, and the price per square foot net of any seller concessions was $215, higher than the $203 at the end of 2011 and just above the second quarter in 2011 as well.
Tredyffrin had 73 homes sold, average days on market was 109, and the price per square foot was $198, the same as at the end of 2011 and lower than the $220 per square foot in the second quarter of 2011.
Generally, housing seems to be holding its own right now, the large inventories we were seeing during 2011 have dropped to manageable levels and at some price points are actually low. Interest rates are historically low making house affordability very high for those who can qualify for mortgages. Whilst we are in the doldrums of the summer, there are buyers looking for homes before the school year begins and these buyers are keen to see any new listing.