The Lion's Den
News & Views About Real Estate in the Greater Philadelphia Area
‘Buy & Sell’ Report Details Market Conditions in Five-County Area
If there’s one thing everyone seems to care about, it’s how the real estate market is faring in their own neighborhoods. Twice each year, Kurfiss Sotheby’s International Realty, with data from real-estate expert Charles “Chuck” Cosgrove, prepares Buy & Sell, a market report looking at sales volume, inventory trends, prices and luxury-market activity in Bucks, Chester, Delaware, Montgomery and Philadelphia counties. While retrospective, each report does help consumers assess how the market in their area is trending.
The just-published report, covering the first half of 2013, shows many positive signs, particularly for home sellers who have suffered from too much inventory for at least five years. While prices are not skyrocketing by any means, they are becoming much stronger in certain price bands — mid- and entry-level homes, in particular. Even at the $1,000,000+ price level, inventory levels have declined in most areas.
We hope you find the “Buy & Sell” report useful. Our next issue will not be available until early March 2014. By then, we presume the government will be back to work; winter will certainly give way to spring and a new crop of buyers and sellers will be entering the market. Those of you who are thinking about looking for or selling a home and want more detailed information about your specific market should contact the office closest to you. An associate will be happy to provide data on sales and activity in your neighborhood. Philadelphia/Main Line/Montgomery County Office: 215.735.2225 or Bucks County Office: 215.794.3227.