Welcome to the February 2021 Main Line Real Estate Report!
It’s that time of the month again for your Main Line Market Update for February 2021. I am so excited to share these statistics with you. It still remains a seller’s market which means inventory remains at an all-time low. Buyers are out there searching and trying to find the perfect home. Unfortunately, because of the low inventory buyers don’t have a lot of choices. So luckily for the sellers, the majority of properties are getting multiple offers, and bidding wars are happening which are resulting in properties selling for over asking price, and sometimes people are removing all contingencies like a home inspection. If you’re looking to sell your home this is absolutely the perfect time to put it on the market.
In all of the Main Line Town’s last month of January, 87 homes sold with the average price of $697,000 and you can expect to pay 99% of the asking price. In Radnor 27 homes sold with an average price of $869,000 and you can expect to pay 98% of the listing price. Villanova There were only 7 homes that sold last month, the average price at 1,226,000 and you can expect to pay 96% of the asking price. Wayne Pennsylvania 34 homes sold last month and you can expect to pay 100% – yes 100 % of the asking price and the average price point was $692,000. Bryn Mawr there were 2 homes sold last month with an average price of $460,000 and you can expect to pay 97% of the listed price. Overall in the Main Line, the average day on market is 40 days and you can expect to pay 99% of the asking price. Don’t get me wrong there are homes that are going in 2 days and on the market and go for above asking. It remains a hot seller’s market and buyers are aggressively looking because interest rates remain at an all-time low. If you need any help or information I’m always here. Or If you would like to know what your home is worth I’d be happy to send you a comparable market analysis to your email and drop one off at your front doorstep. Kimmy Rolph sells The Main Line & local areas.