The report of activity during the month of October 2008 for Radnor Township shows a mixed result – it is still a Seller’s Market in lower price ranges, but is a Buyer’s Market in the higher price levels:   

      In the range of $0 to $500,000, 7 homes were listed, 4 went under contract, and 9 settled.  The average list price for new listings was $299,130 and the average settled price was $317,855.  There are currently 45 homes on the market in this category and at current market absorption rates, we have a 5 month supply of homes.   A market absorption rate of 6 months is a balanced market, so less than 6 months indicates a seller’s market in this category. 

      In the range from $500,000 to $1,000,000,  14 homes were listed, 3 went under contract, and 7 settled.  The average list price for new listings was $788,220 and the average settled price was $655,642.  There is a 7 month supply of homes (market absorption rate) in this price range thus indicating that in this range, it is a Buyer’s market. 

      In the range from $1,000,000 and up, 13 homes were listed, 1 went under contract, and 1 settled.  The average list price for new listings was $1,941,363 and the average settled price was $1,317,500.  There are currently 57 homes on the market in this category and a 14 month supply of homes in this price range, thus indicating a strong Buyer’s market at this pricing level