Montgomery County Real Estate Market Statistics

Real Estate Statistics for Septemeber 2012 were just released from our local MLS. We continue to see positive numbers!

All figures for Montgomery County:

• Total inventory for September was 4,323 units. This is down from last year's inventory in September of 5,191 units. Lower inventory means a higher demand, which eventually leads to higher prices!

• The amount of Pending Units (homes under agreement but not at settlement yet) increased 14% from September in last year.

• Settled Units were 18% higher than last year, with 579 units settled in September.

• The Median Price for listings in Montgomery County in September was $265,000, up from $254,000 last year.

• The Average SETTLED price for single family homes remains unchanged from last year at $313,000. The Median Settled Price for single family homes decreased only by $1,000 to $259,000.

• Lastly, the Settled Price vs. Original Price was up to 91.4% from 90.5% last year.

Some of these numbers sounds great - 18% increase in settled units is very positive! Others can look less than great: such as the average settled price changing 0% from last year. While it did not increase, it did not decrease either, and for the past few months we've been seeing small decreases in settled prices. Perhaps we've finally hit bottom? The low inventory is a good sign that eventually prices may start to increase again.

If you have any questions about the real estate market in our area, contact Coldwell Banker Realty Corp., your local expert for Montgomery County real estate! Coldwell Banker Realty Corp is located at 600 E Main St in Lansdale, PA 19446. We can be reached via phone at 215-855-5600 or via email at info@cbrealtycorp.com