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.
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!
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