In the above video, Michael Diggin of RE/MAX Town & Country breaks down how the real estate market in Delaware County performed at the end of last year and what the outlook is for 2021.

Delaware County continued a record-setting performance in the first quarter of 2021 first experienced in the second half of 2020.

For January 2021, the average median price for a detached home rose 14.3 percent compared to January 2020, with an average median price of $359,000.  

The county had only 227 active listings in January 2021 verses 526 in January 2020.

With so few homes for sale, those available sold quickly, averaging 22 days on the market, selling at 99 percent of their list price.

Pockets of the county experienced even stronger performance, in Marple Newtown, Garnet Valley, Rose Tree Media and Springfield School District, coupling price increases with extremely low inventory.

Interest rates remain attractive, at just over 3 percent, giving buyers greater purchasing power to afford a more expensive home.

It remains a sellers market due to low inventory driving up prices.

 “To sellers, this is music to their ears, as multiple offers sometimes in excess of 10 offers per single listing are becoming increasingly common.”