Last week I stopped by a wonderful home on South Wayne Avenue in Wayne priced at $1.4 million, it had just come on the market and had a beautiful swimming pool and good size rooms. I noticed it is already under contract, which does not surprise me as I thought it was really well priced for a walk to Wayne location and for the quality of the home.
I recently ran the numbers for Radnor sales for last quarter to see what is happening. Price per square foot has risen on sales of 80 single family homes that have square feet space available, this excluded two homes that did not list square feet, to $219 per square foot. Days on market had risen to 124, but price ratio of sold to list had also risen to 95% all compared to the last quarter of 2011.
Compared to quarter 2 in 2011 price has dropped from $235 per square foot to $219. So we are seeing higher prices, but longer time on market as an average although as the story above shows, when a home is priced realistically it will sell quickly.
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