Harleysville-Lansdale Real Estate and More: Montgomery County PA Home Prices and Home Sales

August marked the 21st consecutive month that home prices have fallen from their previous year levels in Montgomery County, PA. For this past August, the average price of a home was 13% below the same month in 2008. But before you make any hasty, negative judgments about our market, take a look at the charts below and note the following:

• From the latter part of 2005 through early 2008, our housing prices could be characterized as relatively flat and stable. It wasn’t until late 2008 that we started to see some more significant decreases in our average selling prices. And even during this period, our monthly year-over-year price declines were pretty much confined to a 5% to 15% range.

• We actually saw a typical, seasonal price increase over the 2009 spring/summer selling season. The average price increased from a low of about $271,000 in February to a high of $322,000 in June; nearly a 19% increase.

• Probably the most encouraging data involves the number of homes sold. This past July, we actually saw an increase (1.6%) in the year-over-year number of homes sold. That marked an end to a streak of 38 consecutive months in which the year of year number fell. It was also followed up by a 0.5% increase in August’s year-over-year number. Only time will tell if this is a turning point, but it’s definitely a positive sign.

• Lastly, and more just a point of interest, the charts clearly show some interesting and repetitive seasonal trends. Within the real estate industry, we’re well aware of these trends and many consumers are now savvy to them as well. Seeing the data, however, really takes the mystery out of the “selling/buying seasons”.

Contact Scott Loper, Associate Broker, Realtor®, RE/MAX Realty Group at 215-513-1333 to buy or sell a home in Lansdale, Harleysville, Hatfield, Souderton, Skippack, Collegeville, North Wales and the surrounding areas of Montgomery County Pennsylvania. To Search for Homes For Sale in Montgomery County Click Here.

Copyright © 2009, The Scott Loper Team, All rights reserved. Montgomery County PA Home Prices and Home Sales.