Montco home sales and prices are up

North Penn Life - - REAL ESTATE -

Tight­ened in­ven­tory lev­els com­bined with strong in­ter­est, con­sumer de­mand shift­ing from distressed properties to con­ven­tional homes, record low in­ter­est rates, and ris­ing rental rates, are all fu­el­ing a re­cov­ery in the hous­ing mar­ket in Mont­gomery County, ac­cord­ing to the Mont­gomery County As­so­ci­a­tion of Real­tors.

While spring is tra­di­tion­ally a time for an uptick in home sales and prices, the QuPEHrs IRr WhH firsW TuDrWHr of 2013 are es­pe­cially promis­ing, MCAR said.

“For months we’ve seen national re­ports of an in­crease in the mar­ket, and now we have the num­bers to show Mont­gomery County is on trend with the na­tion. It’s great news for buy­ers and sell­ers, and ex­cit­ing news for Real­tors,” said Joyce Foe­sig, MCAR pres­i­dent.

&RPSDrLQJ WhH firsW TuDrWHr RI 2012 WR WhH firsW TuDrWHr of 2013, home sales in the county in­creased, the aver­age sales price in­creased, and pend­ing sales in­creased, ac­cord­ing to the TREND Mul­ti­ple List­ing Ser­vice nuar­terly Mar­ket Re­port.

7RWDO TuDrWHrOy sDOHs wHrH up 7.5 per­cent from the firsW TuDrWHr RI 2012, PH­dian sales price went from $230,000 to $239,000 (a 3.9 per­cent in­crease), aver­age sales price was up 2.3 per­cent to $287,974 and pend­ing sales were up 10.3 per­cent from 2,050 in 2012 to 2,262 in 2013.

/RwHr 0HrLRQ OHG firsW TuDrWHr sDOHs uS IrRP 119 ODsW year to 132 this year, with Abing­ton go­ing from 88 to 109, Lim­er­ick Town­ship from 40 to 52 and Hor­sham Town­ship from 42 to 49, ac­cord­ing to the re­port. The aver­age sold price was up to $536,722 in Lower Me­rion, $457,883 in Worces­ter Town­ship, $400,598 in Lower More­land, $386,170 in Whitemarsh, $340,076 in 6SrLQJ­fiHOG, DQG $336,779 in Hor­sham.

(Source: TREND Mul­ti­ple List­ing Ser­vice. In­for­ma­tion pro­vided by TREND is deemed re­li­able but not guar­an­teed. Statis­tics in­clude only trans­ac­tions in­volv­ing real es­tate pro­fes­sion­als who are TREND mem­bers.)

For more in­for­ma­tion on the real es­tate mar­ket in Mont­gomery County, con­tact Mont­gomery County As­so­ci­a­tion of REAL­TORS® at 610-260-9931.

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