Real Estate Update: A Slower Start, But Signs of Growth
The Spring Market is Here—But It’s Been a Bit of a Slow Start
April felt a little off in the real estate world—not just here in Delco, but across the country. While spring is typically the time when things pick up, this year many buyers hit pause. Between uncertainty around jobs, budgets, and broader economic news, folks were a bit hesitant to make a move. But there are signs that things are shifting in a more positive direction.
Here’s what I’m seeing right now in our area, and what it could mean for you or someone you know:
• A growing number of homes are adjusting their prices
About 1 in 4 homes on the market dropped their asking price in April. With inventory up, sellers are realizing they need to meet buyers where they are. If you're thinking about selling, it’s more important than ever to price it right from the start and showcase what makes your home shine.
• But well-prepped homes are still selling above asking
Over a quarter of homes are still closing for more than list price. If a home is priced competitively and marketed well (yes, that includes beautiful photos and getting the word out properly), it’s still possible to attract strong offers—sometimes multiple!
• Homes are going under contract in just over two weeks
The average time for a home to go pending in April was 16 days. That gives buyers a little more breathing room compared to the wild pace of the past few years, but we’re still in a market where preparation is key. Having your finances ready—like getting pre-approved and knowing your numbers—can make all the difference.
• Mortgage payments dipped slightly
Monthly payments dropped about 1.3% compared to this time last year. It’s not huge, but every bit counts when you're planning your budget. Still, trying to “time the market” perfectly isn’t realistic—it’s better to focus on what works for your life and goals.
• The Northeast is hot—and we’re right in the mix
The Northeast is leading the pack when it comes to buyer activity, and Delaware County is no exception. Homes here are still in demand, especially when they’re move-in ready or in great locations near parks, schools, and transportation.
If you’re curious what this means for your own home’s value—or just want to chat about what’s happening in your neighborhood—I’m always here. Whether it’s real estate questions, recommendations, or just catching up, I love staying in touch with my community.