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

The Ambler Gazette - - REAL ESTATE -

Greater mhiladel­phia re­gion* home sales iQFrHDsHG 13.9 SHrFHQW iQ WKH firsW KDOI RI OMNOI ac­cord­ing to mru­den­tial cox C ooachI oeal­tors Hom­bx­pert jar­ket oe­port. mos­i­tive gains in nO 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 OMNN.

&RQ­fiGHQFH iQ KRPHRwQHrsKiS DQG rHDO es­tate is also climb­ingI par­tic­u­larly in the Greater mhiladel­phia area. Ac­cord­ing to the sec­ond quar­ter mru­den­tial oeal bstate OutORRk 6urvHy, 69 SHrFHQW RI $PHriFDQs EHOiHvH that real es­tate is a good in­vest­mentI and TO SHrFHQW HxSrHssHG FRQ­fiGHQFH WKDW WKH rHDO Hstate mar­ket and prop­erty val­ues will continue to im­prove dur­ing the next two years.

fn the Greater mhiladel­phia areaI 8O perFHQW RI KRPH EuyHrs DQG sHOOHrs IHHO WKDW “now is a good time to buy” and RN per­cent IHHO “WKHrH DrH D ORW RI DIIRrGDEOy SriFHG homes on the mar­ketI” ac­cord­ing to the mru­den­tial cox Ho­mown­er­ship Sur­veyI gune OMNO.

“oe­gion­al­lyI the nO hous­ing mar­ket out­paced other eco­nomic in­di­ca­tors as con­sumer op­ti­mism growsI” said Steve Stor­tiI sHQiRr 93 RI PDrkHWiQJ, 3ruGHQWiDO )Rx & ooachI oeal­tors. “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 OMNMI 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 AO8MIRMMI a O.9 per­cent de­crease since the sDPH WiPH ODsW yHDr, IROORwHG Ey BuFks County EAORSI9MMI -O.O per­cent)I jon­tJRPHry &RuQWy ($240,000, -2.1 SHrFHQW), jercer County EAOOMIMMMI M.M per­cent) and aelaware County EAOMRIMMMI O.R per­cent). mhiladel­phia County posted the low­est me­dian sale price in the re­gion at ANP8IRMM. Salem County posted the largest in­crease in me­dian sales priceI gain­ing R.S 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 priceI drop­ping 9.9 per­cent to $177,450 iQ WKH firsW KDOI RI 2012, FRPSDrHG to AN9TIMMM the same time last year.

mhiladel­phia 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 EOISMTI OR.N per­cent) and aelaware County EOIPSMI N8 per­cent). Home sales in hent 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: NO-County oe­gion •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 ASORIMMMI oad­nor qown­ship in aelaware County at ARRMIMMMI Sole­bury 7RwQsKiS iQ BuFks &RuQWy DW $540,000 DQG 8SSHr 0DkH­fiHOG 7RwQsKiS iQ BuFks &RuQty at ARO8IMMM

•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 EPTPI OT.T per­cent) 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 aelaware at ANTRIMMM E-T.O per­cent).

•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 aelaware at PIPOR EOR.R per­cent).

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