The Montgomery County, PA Market Report for November 2009 shows that home prices again declined from the previous year’s level while the number of home sales rose dramatically.
The average price of a home in Montgomery County dropped to $274,706 compared to $295,494 for November, 2008; an 7.0% decrease. This marks the 24th consecutive month in which home prices have fallen from the prior year level.
The number of homes sold this past November increased to 860 units versus 479 homes sold in November of the prior year; a 80% increase. This marks the 5th consecutive month that the number of homes sold has increased from its prior year level.
If anyone had any doubts about the popularity of the $8,000 tax credit that was set to expire this past November, this market report should make it crystal clear. An 80% increase in the number of units sold at generally lower price levels can only be attributed to one market segment; first-time buyers. They definitely showed up in force to settle on homes before the anticipated expiration of the tax credit. By the way, the home buyer tax credit has since been extended and expanded to include "current" home owners.
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 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 Market Report for November 2009.
The Scott Loper Team
Scott Loper - Associate Broker
Lisa Loper - Sales Associate
RE/MAX Realty Group
439 Main Street
Harleysville, PA 19438
Ph: 215-256-1200 x-213
Nice market report Scott & Lisa, looks like Montgomery County like the rest of the nation benefited from the tax credit. Let's keep our fingers crossed that the expanded tax credit will help bring those average sold prices up. Here's to a very successful 2010 for you both!
Lee & Pamela,
Thanks for the comments and a successful 2010 to you as well.
-Scott