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