According to Zillow.com, Philadelphia ranks #2 in the country for the most stable real estate markets. Using the Zillow Home Value Index (ZHVI), Zillow looked at the absolute change in median home prices on a month-to-month basis for all the metropolitan areas across the country. These are the areas that experienced the least price volatility for the period from July 2009 through June 2010. Click here for a full report compiled by CNBC.
The ranking:
#1 - Grand Rapids, Michigan
#2 - Philadelphia, Pennsylvania
#3 - Lincoln, Nebraska
#4 - Columbia, South Carolina
#5 - Canton, Ohio
#6 - Pueblo, Colorado
#7 - (3-way tie)
York, Pennsylvania
Yakima, Washington
Washington, DC
#10 - Denver, Colorado
For Philadelphia, the average absolute monthly change in home values was 0.11% with the largest monthly average change at +/-0.14% and the smallest monthly average change at +0.05%. For the same 12-month period, the median home value high was $209,900 and the low was $208,600.
Philadelphia and the surrounding counties can credit strong, stable employment bases as one of the top reasons for the market stability over the last year. If you would like more information on Philadelphia or the surrounding suburban counties of Montgomery, Bucks, Chester or Delaware, please give us a call.
~Lisa
Contact Scott Loper, Associate Broker, Realtor®, RE/MAX Realty Group at 215-513-1333 for help buying or selling a home in Lansdale, Harleysville, Hatfield, Souderton, Skippack, Collegeville, North Wales and the surrounding areas of Montgomery and Bucks Counties of Pennsylvania. To Search for Homes For Sale in Montgomery County Click Here.
Philadelphia Ranks Amongst the Most Stable Real Estate Markets Copyright © 2010, The Scott Loper Team, All rights reserved.
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The Scott Loper Team
Scott Loper - Associate Broker
Lisa Loper - Sales Associate
Gina Wherry - Sales Associate
RE/MAX Realty Group
439 Main Street
Harleysville, PA 19438
Ph: 215-256-1200 x-213
