Just how hot are the real estate markets in Delaware and Pennsylvania? It depends on the neighborhood! Fortunately, there's a way to get some insight.

The time a home spends on the market before going under contract is measured by "days-on-market." The shorter this timeframe, the more popular the area is with home buyers!

Like all statistics, this can be subjective depending on the price ranges involved. Still, it's a useful guide post for estimating home seller opportunity - or home buyer challenges. 

Here are the some of the fastest-moving markets in Delaware and Pennsylvania, by ZIP code, based on 2020 first quarter statistics. These are their median days-on-market:

Delaware:

19810: Wilmington: 41 

19713: Newark: 41 

19720: New Castle: 44 

19711: Newark: 45 

19702: Newark: 49 

Pennsylvania:

19154: Philadelphia: 23

19044: Horsham: 27 

19055: Levittown: 28

19111: Philadelphia: 38 

19153: Philadelphia: 39 

It isn't unusual for homes in the Philadelphia-Wilmington metropolitan area to go under contract in less than 60 days. Sellers in these fast-moving markets enjoy stronger prices and negotiation advantages because demand is outpacing supply!

While sellers have the advantage in certain markets, home condition still counts, and sellers should avoid the temptation to over-price for the market. If you are considering selling your Delaware or Pennsylvania home, begin with a pre-sale consultation from the Kat Geralis Home Team! We will provide you with a home value analysis and pre-market strategies. There is no charge for this service, and no pressure to sell your home. 

Contact the Kat Geralis Home Team today!

 

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Homes for Sale
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