Real estate briefs
Brian Tuner
Weichert, Realtors honors July sales accomplishments
Shelia Banner, manager of Weichert, Realtors’ Blue Bell office, recognized sales associates Brian Tuner and Jori Broad for their individual success in July.
Tuner was the top listing associate in the Blue Bell office for the month, while Broad led all associates for sales.
John Bilek, regional vice president of Weichert, Realtors, announced that the Jenkintown office was recognized for sales success in July.
The office led its Weichert sales region in resale listings and resale revenue units for the month. The region comprises locations throughout the Main Line, Bucks, Chester, Delaware, Montgomery and Philadelphia counties in Pennsylvania and New Castle County in Delaware.
In a related announcement, Jenkintown office manager George Koser recognized the office’s top producers in July. Sales associate Deborah Spence led the office in listings, and Yael Milbert was the top sales associate in the office for both sales and volume.
Deb Smith, manager of Weichert, Realtors’ Whitemarsh office, recognized sales associates Patti Hoban, Robyn Ross and Debra Malone-Berger for their individual success in July.
Hoban led the Whitemarsh office in marketed listings, revenue units and dollar volume for the month, while Ross was the top associate for sales. Malone-Berger led all Whitemarsh associates in listings.
July saw steady increase in home sales
Home sales in the Greater Philadelphia 12-county region have had a slow but steady increase in 2017, with July’s home sales up 6.3 percent from the same time last year, with 8,342 properties sold in July 2017, compared to 7,846 sold in July 2016, according to Berkshire Hathaway HomeServices Fox & Roach, Realtors HomExpert Market Report.
“We continue to see a monthly increase in homes sold compared to last year’s numbers,” explains Steve Storti, chief marketing officer, Berkshire Hathaway HomeServices Fox & Roach, Realtors, “which indicates that so far in 2017 the market is seeing a steady increase in activity.”
Looking at the five-county Pennsylvania regions of Bucks, Montgomery, Delaware, Chester and Philadelphia counties, there was a mix of increases and decreases in home sales, showing a slight increase by 1.8 percent from July 2016. Delaware County showed the highest increase of 6.4 percent, with 712 properties sold in July 2017 compared to 669 in July 2016. Next highest increase was Bucks County’s 4.9 percent, showing 829 properties sold in July 2017, compared to 790 in July 2016, and Montgomery County had a 3.6 percent increase, from 1,176 in July 2016 to 1,218 in 2017. New Jersey’s five counties of Burlington, Camden, Gloucester, Mercer and Salem counties had a more consistent increase at 13.5 percent higher than July 2016. Salem County had the highest increase of 65.2 percent, from 46 properties sold in 2016 to 76 sold in July 2017, followed by Burlington County’s increase in properties sold of 17.8 percent, from 584 homes sold in July 2016 and 688 sold in July 2017 and Camden County with a 16.6 percent increase, from 604 homes sold in 2016 compared to 704 homes sold in July 2017. In Delaware, combined numbers from New Castle and Kent County show there were 957 properties sold in July of 2017,
The Jenkintown office was recognized for sales success in July. The office led its Weichert sales region in resale listings and resale revenue units for the month.
“We continue to see a monthly increase in homes sold compared to last year’s numbers, which indicates that so far in 2017 the market is seeing a steady increase in activity.”
— Steve Storti, chief marketing officer, Berkshire Hathaway HomeServices Fox & Roach, Realtors
compared to 825 in July 2016, a 16.0 percent increase.
Monthly average inventory remains low across the 12-county Greater Philadelphia region with 40,938 listings in July 2017, down -14.5 percent from 47,853 homes on the market in July 2016. In Pennsylvania, Bucks County is showing the highest percent decrease in monthly average inventory at -20.9 percent, from 4,406 in July 2016 compared to 3,487 in July 2017, next is Montgomery County with a -17.8 percent (4,634 in July 2017 down from 5,639 in July 2016), and Delaware County (-16.5 percent with 3,275 homes listed in July 2017 compared to 3,923 in July 2016) and then Philadelphia County (with 7,685 properties for sale in July 2017, down -16.2 percent from last July’s 9,175.)
Jersey’s five-county area showed a decrease of -12.1 percent from July 2016 where there were 15,805 listings compared to this year’s 13,899. Mercer County has the greatest decrease of 20.1 percent from 2,811 in July of 2016 dropping to 2,245 in July 2017. Camden County had a -15.7 percent decrease with 4,976 listings in July 2016 compared to 4,196 July 2017.
Average price of properties sold has increased across the five-county Greater Philadelphia region, with the average sale price at $323,855, a 7.0 percent increase from July 2016’s $302,627. Philadelphia County saw the highest jump of 11.8 percent, from $238,725 in July 2016 to $266,808 in July 2017, followed by Chester County at 8.3 percent average price increase, with $373,377 in July 2016 compared to $404,340 in July 2017. In New Jersey’s five-county region, the average price of properties sold declined across the board, with an overall -7.3 percent decrease. Salem County showed the highest decrease of -15.5 percent with $151,309 in July 2016 compared to $127,852 in July 2017 and Camden County had a -4.1 percent decrease with an average sale price of $194,943 in July 2016 compared to $186,931 in July 2017.