Monday, August 25, 2014

Healthy End to the Spring Market

According to Realtor.com, for the first time in 3 years we had price appreciation and inventory increases. This is not only a national trend, it's a local trend in Philadelphia area too. I saw first hand the slow start to the year and then it pick up again once the snow melted!
Here's a snippet from the article:


Montgomery County had a 6.92% decrease in closed units as of July 2014 compared to same timeframe last year, but a 1.24% increase in sale price.
Philadelphia County had a 7.03% decreased in closed units so far, but a 4.49% increase in sale price.
Year to date sales are slightly lower than last year, but again a lot has to do with the slow start. July pending sales are higher than last July so I feel we'll end up similar to 2013.
Berks County had only a 2.22% decrease in closes units and 2.50% increase in sale  price. Personally, I've done more deals in Berks county this year than previous years so this makes sense to me!

This is all county data, we must narrow is down to towns for even more accurate information. Are you curious what's happening in your area, neighborhood or county? Email me and I would be happy to send you the stats.  

Monday, August 11, 2014

Eagleville, PA

Do you how "Ville" at the end of town names started? Ville" is the modern French word of Latin origin now meaning "city" or "town", but the first meaning in the middle-ages was "farm" and then "village". The derivative suffix -ville is commonly used in English in names of cities, towns and villages. (courtesy of wiki)

One of our local "Ville" towns is Eagleville, PA.  The town is a 1.6 square mile section of Lower Providence Township.  It's with in the Methcaton School District, which according to SchoolDigger.com, ranks 32nd out of 458 districts in PA! See School Rating Here

Eagleville is a super convenient location. You're within minutes to Collegeville shopping center on route 29, Audubon and Oaks major shopping centers and entertainment (i.e. Arnolds, Sky Zone, movies, etc) and walking distance to parks, stores and restaurants. Evansburg State Park is a very short distance away too and is a beautiful setting for a Saturday morning hike, bike ride or fishing. You can also hunt, camp and horseback ride! 
Learn more about the city statistics below:
http://www.city-data.com/city/Eagleville-Pennsylvania.html

Last week I listed a home for sale in Eagleville. It's one of the most affordable neighborhoods in the Methcaton Schools and is in move-in ready condition!
This is a 3 bedroom, 2.5 bath town home asking $172,500. It has hardwood flooring, updated kitchen, custom made closets and a private fenced in backyard. See more photos and information below!

Monday, July 21, 2014

Real Estate Market Update

Mid-year brings many reports outliining how various markets are doing and where they are headed. One of the most common indicators for our economy  is by looking at the real estate market. 

The crazy winter resulted in a slower start to the year, but it seems we are picking up in our local market. 

According to our local Trend MLS real estate reporting, in Montgomery county, PA June Settled Listings edged slightly above sales from last year, increasing 1.4%, while year-to-date sales are down 5.5% through June over last year.
There was a slight increase in Median Price in June as well, with a 0.7% increase. The year-to-date Median Price continues to stay ahead of last year by 1.1%.

Nationally, our foreclosure housing looks positive as well. 
“Nationwide foreclosure activity in June reached an important milestone, dropping to levels not seen since before the housing price bubble burst in August 2006,” said Daren Blomquist, vice president at RealtyTrac....Over the next six to nine months nationwide foreclosure numbers should start to flat line at consistent historically normal levels. June reported a total of 613,874 U.S. properties with foreclosure filings — default notices, scheduled auctions and bank repossessions — in the first half of 2014, a 19 percent decrease from the previous six months and down 23 percent from the first half of 2013. The report also shows that 0.47 percent of all U.S. housing units (one in 214) had at least one foreclosure."