Market Report: Furlong PA Real Estate for September 6, 2013

The median sales price for homes in Furlong PA for May 13, 2013 to July 13, 2013 was $410,000. This represents an increase of 11.6%, or $42,687, compared to the prior quarter and an increase of 3.0% compared to the prior year.

Sales prices have appreciated 10.4% over the last 5 years in Furlong. The average listing price for Furlong homes for sale was $596,596 for the week ending August 28, 2013, which represents an increase of 0%, or $192, compared to the prior week and a decline of 1.0%, or $5,779, compared to the week ending August 07, 2013.

Average price per square foot for Furlong PA was $153, an decrease of 1.3% compared to the same period last year.

There are currently 94 resale and new homes in Furlong, including 9 open houses, as well as 20 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process.

The average listing price for homes for sale in Furlong PA was $596,596 for the week ending August 28, 2013, which was unchanged compared to the prior week.

What's New

According to the latest quaterly report by the National Association of Realtors, median home prices continued to rise in the majority of metropolitan areas in the second quarter. 

In addition, the national median existing single-family home price was up 12.2 percent from the second quarter of 2012, the strongest year-over-year gain in seven-and-a-half years. 

Separately, a breakout of income requirements to buy a median-priced home on a metro area basis shows most buyers remain well positioned to afford a home in their area, even despite rising prices and higher mortgage interest rates.

Source:  Trend MLS and Trulia

Market Report:  Furlong PA Real Estate for September 6, 2013