Quick Newtown Square PA Sales Update
By David Henke, Realtor, Homes Just West of Philadelphia PA
(Long & Foster Real Estate, Inc)
Average sales prices in Newtown Township Delaware County continue to rise as inventory remains tight.In the first half of 2023, the average sales price In Newtown Square reached an impressive $822,000. This represents an increase of 16% from 2022 ($707,000) and an even larger increase of 36% from our last pre-pandemic year of 2019.A key item driving this increase is the decreasing inventory. In the first six months of 2023, there were only 114 new listings, down 14% from the 133 listings in 2022 and 40% from the 190 listings in 2019 during the same period. The reduction in available properties has increased the competition among buyers resulting in continued multiple offers and rising prices.The number of closed sales has also declined in the first half with 88 transactions compared to ...
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