It May Be Cold Outside, But Philly Area Homes Are Selling Like Hotcakes!
Berkshire Hathaway HomeServices Fox & Roach has put out their latest HomeExpert report, which in addition to comparing the prices and number of days spent on the market for homes in Philadelphia and Montgomery, Bucks, and Delaware counties between 2013 and 2014, also looks at the number of home sales between those years. Their findings? Put together, the 5-county Philly area has seen its houses selling “at the fastest in three years.”
You can see the individual county numbers in the embedded HomeExpert table below (don’t worry phone readers, we’ve included screenshots too) but here’s the overall gist of it by Natalie Kostelni at the Philadelphia Business Journal:
The pace at which houses sold was at the fastest in three years, according to the firm’s HomeExpert report. The amount of time a house lingered on the market was down. Properties stayed on the market an average of 78 days last year compared with 83 days in 2013 and 98 days in 2012. Inventory also declined to 42,859 properties compared with 45,110 in 2013.
In a closer look, Kostelni adds that home sales actually dropped by 6.3 percent in the Main Line, while prices went up by 3.8 percent.
The following are screenshots from BHHS Fox & Roach’s HomeExpert report.
The full table can be found below.
H/T: Philadelphia-area homes selling at fastest pace in three years [Business Journal]