Delaware County saw the largest gain in the region for home sales in January, posting 438 closed sales, writes Ryan Sharrow for Philadelphia Business Journal.

That indicates a 28.1 percent year-over-year increase, according to data provided by MarketStats.

The region overall has seen the median sales price of homes and number of deals closed soar to new highs in January compared to the last decade.

At the same time, housing inventory is at a 10-year low.

Regional median home sale prices reached $240,000, a 9.6 percent increase over January 2019.

Prices are well above the 10-year average of $208,846.

Greater Philadelphia closed sales in January was 4,909, an increase of 9.4 percent and the second straight month of gains.

Average homes are receiving 94.6 percent of their list price, slightly up over January 2019. Homes are also staying on the market for less time due to the shrinking inventory.

In January, the average home sold in 37 days. A year ago, the average home sold in 47 days.  The highest number of days a home was on the market in this decade was in 2012 when homes sat unsold an average of 98 days.

Read more about the region’s housing market here.

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