Real Estate Market Statistics for Montgomery County and the surrounding areas were just released for May 2012. The statistics show mostly positive news!
- Montgomery County PA had a 2011/2012 growth of 16.91% in settled single family homes - up from 13.7% in April 2012.
- The median settled price in Montgomery County PA from May 2012 vs. May 2011 was down 1.59%, better than Aprili 2012 which was down 2.81%
- Bucks County PA had a 2011/2012 growth of 16.46% in settled units, up slightly from 15.74% in April 2012. May 2012 saw 1,755 single family homes settle when May 2011 only had 1,507 units settle.
- The median settled price in Bucks County PA from May 2012 vs. May 2011 was down 1.85%, a worse number than the negative .38% from April 2012
- Philadelphia County only saw an increase of 3.22% from May 2012 vs. May 2011 in total settled single family home units - which was, however, up from April's figure of 1.99%
- The median settled price for Philadelphia County, however, was up 4.17%
Overall, Montgomery, Bucks, Delaware, Chester, and Philadelphia County all saw increases in Settled Units from May 2012 versus May 2011, backing up the idea from the industry that a market recovery is on its way. Home prices are still struggling to rise though in some areas: every county but Philadelphia in the immediate area still had negative numbers for the average settled price from May 2012 versus May 2011. Philadelphia county did not have much growth in settled units from last year, but the average settled price was positive.
Bucks and Montgomery County both had similar amounts of growth in Settled units: Bucks at 16.46% and Montgomery at 16.91%. Montgomery County does have the edge on home prices, however: the average settled price was only down .66% compared to last May, while Bucks' average settled price was down 1.58%.
If you are interested in learning more about the market conditions in your neighborhood, call us today at 215-855-5600 or email us a email@example.com to get connected with a Realtor who can give you a competitive market analysis on your home.