It was certainly an exciting spring in the Swarthmore market! Our “spring” season stretches from January through June. (Of course there will still be summer settlements of homes that went pending in the spring and those are not included here.)
Here is a rundown of how this spring played out:
The Swarthmore condo market:
There were 11 condo sales in Swarthmore Borough this spring. Of the 11 condo sales this spring, 3 sold at the listed price and 1 sold higher than the listed price. Our condos seem to be slowly but steadily making up the value losses they took in the recession years. As you can reference in my post about last year’s market here, condominiums took a bigger hit than the rest of our market in the downturn. Last year there was a run on condos and we ended up with a limited inventory. It’s great to see sellers marketing their condos again and buyers continuing to purchase them.
The Swarthmore single family home market:
There were 21 single family home sales in Swarthmore Borough this spring. Of the 21 single family home sales this spring, 5 sold at the listed price and 6 sold over the listed price. The theme of light inventory and robust buyer activity continued where last year left off. The multiple offer situations, particularly in the early part of the season were unprecedented. Two of the most noteworthy were my own listing at 510 Riveview Road which listed for $449,500 and sold for $477,500 with five offers and Heidi Foggo’s listing at 438 Riverview Road which listed for $934,900 and sold for $981,000 with multiple offers. Our own Becky Hansen brought the buyers! (Please see here for my blog post about the benefit of working with a local buyer agent who really knows the micro-market when entering a multiple offer scenario.)
I am proud to report that of the total 32 transactions, 16 sides were handled by D. Patrick Welsh agents! Our tiny boutique is comprised of just 10 local professionals. In context, the Suburban West Realtors Association that serves our area has 4,700 members.