Montco home sales and prices are up
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.