Greater Philadel­phia home sales in­crease 13.9 per­cent in first half of 2012

North Penn Life - - REAL ESTATE -

Greater Philadel­phia re­gionG home sales iQFrHDsHG 13.9 SHrFHQW iQ WKH firsW KDOI RI 2012, ac­cord­ing to Pru­den­tial cox C Roach, Real­tors HomEx­pert Mar­ket Re­port. Pos­i­tive gains in n2 buoyed me­dian home sale SriFHs, wKiFK KHOG sWHDGy DW $200,000 IRr WKH firsW six PRQWKs RI WKH yHDr FRPSDrHG WR the same time in 2011.

&RQ­fiGHQFH iQ KRPHRwQHrsKiS DQG rHDO es­tate is also climb­ing, par­tic­u­larly in the Greater Philadel­phia area. Ac­cord­ing to the sec­ond quar­ter Pru­den­tial Real Es­tate lutORRk 6urvHy, 69 SHrFHQW RI $PHriFDQs EHOiHvH that real es­tate is a good in­vest­ment, and 72 SHrFHQW HxSrHssHG FRQ­fiGHQFH WKDW WKH rHDO Hstate mar­ket and prop­erty val­ues will continue to im­prove dur­ing the next two years.

In the Greater Philadel­phia area, 82 perFHQW RI KRPH EuyHrs DQG sHOOHrs IHHO WKDW “now is a good time to buy” and 51 per­cent IHHO “WKHrH DrH D ORW RI DIIRrGDEOy SriFHG homes on the mar­ket,” ac­cord­ing to the Pru­den­tial cox Ho­mown­er­ship Sur­vey, June 2012.

“Re­gion­ally, the n2 hous­ing mar­ket out­paced other eco­nomic in­di­ca­tors as con­sumer op­ti­mism grows,” said Steve Storti, sHQiRr 93 RI PDrkHWiQJ, 3ruGHQWiDO )Rx & Roach, Real­tors. “We ex­pect this trend to continue as home buy­ers and sell­ers take ad­vDQWDJH RI ORw iQWHrHsW rDWHs DQG QHDr rHFRrG DIIRrGDEiOiWy.”

7KH DvHrDJH QuPEHr RI GDys D KRPH rHPDiQHG RQ WKH PDrkHW GHFrHDsHG IrRP 104 GDys iQ WKH firsW KDOI RI 2011 WR 103 GDys iQ WKH firsW KDOI RI 2012. 7Kis is sOiJKWOy ORQJHr than the same time pe­riod in 2010, when KRPHs rHPDiQHG RQ WKH PDrkHW IRr DQ DvHrDJH RI 86 GDys.

7KH PRQWKOy DvHrDJH iQvHQWRry RI KRPHs DvDiODEOH RQ WKH PDrkHW IRr WKH rHJiRQ GHFrHDsHG iQ WKH firsW KDOI RI 2012 DW 52,807 FRPSDrHG WR 58,542 iQ WKH firsW KDOI RI 2011 DQG 57,574 iQ WKH firsW KDOI RI 2010.

Chester County posted the high­est meGiDQ sDOH SriFH iQ WKH firsW KDOI RI 2012 DW A280,500, a 2.9 per­cent de­crease since the sDPH WiPH ODsW yHDr, IROORwHG Ey BuFks County EA256,900, -2.2 per­centF, Mon­tJRPHry &RuQWy ($240,000, -2.1 SHrFHQW), Mercer County EA220,000, 0.0 per­centF and Delaware County EA205,000, 2.5 per­centF. Philadel­phia County posted the low­est me­dian sale price in the re­gion at A138,500. Salem County posted the largest in­crease in me­dian sales price, gain­ing 5.6 per­cent IrRP $135,000 iQ WKH firsW KDOI RI 2011 WR $142,500 iQ WKH firsW KDOI RI 2012. 1Hw Cas­tle County posted the largest de­crease in me­dian sales price, drop­ping 9.9 per­cent to $177,450 iQ WKH firsW KDOI RI 2012, FRPSDrHG to A197,000 the same time last year.

Philadel­phia County saw the high­est numEHr RI KRPHs sROG iQ WKH firsW KDOI RI 2012 DW 5,473, D 3.3 SHrFHQW iQFrHDsH FRPSDrHG WR WKH firsW KDOI RI 2011, IROORwHG Ey 0RQWJRPHry &RuQWy (3,826, 18.4 SHrFHQW), BuFks &RuQWy (2,637, 14.1SHrFHQW), 1Hw &DsWOH County E2,607, 25.1 per­centF and Delaware County E2,360, 18 per­centF. Home sales in Kent County in­creased the most in the reJiRQ, 27.1 SHrFHQW IrRP 565 KRPHs sROG iQ WKH firsW KDOI RI 2011 WR 718 KRPHs sROG iQ WKH firsW KDOI RI 2012.

2WKHr firsW KDOI RI 2012 HRP(xSHrW 0DrkHW 5HSRrW© fiQGiQJs: 12-County Re­gion •3riQFHWRQ 7RwQsKiS iQ 0HrFHr &RuQWy posted the high­est me­dian sales price in the *rHDWHr 3KiODGHOSKiD rHJiRQ DW $708,943, IROORwHG Ey 3riQFHWRQ BRrRuJK iQ 0HrFHr County at A625,000, Rad­nor Town­ship in Delaware County at A550,000, Sole­bury 7RwQsKiS iQ BuFks &RuQWy DW $540,000 DQG 8SSHr 0DkH­fiHOG 7RwQsKiS iQ BuFks &RuQty at A528,000

•7KH 1HwDrk/*ODsJRw DrHD iQ 1Hw &DsWOH &RuQWy SRsWHG WKH KiJKHsW QuPEHr RI KRPHs sROG iQ WKH firsW KDOI RI 2012 DW 729, D 22.3 SHrFHQW iQFrHDsH IrRP WKH firsW KDOI RI 2011, IROORwHG Ey WiOPiQJWRQ iQ 1Hw &DsWOH &RuQWy (437, 24.5 SHrFHQW), BrDQGy­wiQH iQ 1Hw &DsWOH &RuQWy (381, 10.8 SHrFHQW), (OsPHrH/1HwSRrW/3ikH &rHHk DrHD iQ 1Hw Cas­tle County E373, 27.7 per­centF and the 19146 3KiODGHOSKiD ziS FRGH iQ 3KiODGHOSKiD &RuQWy (366, 22.4 SHrFHQW).

•3HQQsyOvDQiD OHG WKH Wri-sWDWH rHJiRQ iQ KiJKHsW PHGiDQ sDOH SriFH iQ WKH firsW KDOI RI 2012 DW $215,000 (1.4 SHrFHQW), IROORwHG Ey 1Hw -HrsHy DW $183,000 (-1.1 SHrFHQW) DQG Delaware at A175,000 E-7.2 per­centF.

•3HQQsyOvDQiD OHG WKH Wri-sWDWH rHJiRQ iQ WKH QuPEHr RI KRPHs sROG iQ WKH firsW TuDrWHr RI 2012 DW 16,811 (12.7 SHrFHQW), IROORwHG Ey 1Hw -HrsHy DW 6,335 (11.6 SHrFHQW) DQG Delaware at 3,325 E25.5 per­centF.

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