The Lion's Den
News & Views About Real Estate in the Greater Philadelphia Area
Local November Home Sales Data Are In
The year-to-date single-family and condominium home sales data for Bucks, Chester, Delaware, Montgomery and Philadelphia counties are in, courtesy of Trend, the multiple-listing service for this market. Overall, the numbers are robust when comparing 2013 against one year ago. Here are some key stats for each market area. If you need specific information for a zip code, please call the New Office at 215-794-3227 or Philadelphia Office at 215-735-2225 for direct assistance.
So far this year, 5,629 single-family and 553 condos have been sold, a jump of 19.03% and 22.35%, respectively, from 2012. Median prices were up 4.4% for single-family ($285,000) but did not budge for condos ($190,000), but hey, at least prices didn’t go down. In 2012 at this time, they had dropped 5% for condos. In both categories, home are selling for about 93% of asking price.
Condo sales in Chester County blasted upwards from 2012, increasing 37.72% year to date. Single-family home sales were up 13.64%. Median prices were $310,000 for single family and $208,000 for condos, up from 2012 3.33% and 5.05%, respectively. Single-family homes are selling for 94.45% of asking price; condos are at 95.2% of asking price.
The number of homes sold for Delaware County year to date suggests a strong market, with single-family home sales rising 12.52% and condo sales up 19.72% from 2012. Median settled prices jumped a hair for single-family homes to $215,000. They actually dropped 3.85% in the condo category, with a median condo price of $150,000. It had been $156,000 a year ago. Homes are selling for 91% and condos for 89.9% of asking price.
Homes sales in Montgomery County were strong year to date compared to 2012. Just over 7,600 single-family homes and 728 condos were sold, up 13.88% and 15.37% respectively. Median prices jumped 5.49% for single-family homes to $269,000 but inched upward just 1.25% for condos to $162,000. Homes are selling for 93.82% of asking price and condos are settling for 91.65% of asking price.
In Philadelphia, 10,176 single-family and 1,222 condos were sold year to date, up 16.79% and 22.2% from 2012 numbers, respectively. The stronger condo market is reflected in a 6.15% median price jump from 2012 to $276,000. The median price for a single-family home was up 2.27% to $135,000. Homes are selling for 90.59% of asking price; condos are selling for 93.13% of asking price.