Market Report & Homes Sales: Ivyland PA 18974 February 2014
The median sales price for homes in Ivyland PA for September 13 to December 13 was $352,500. This represents a decline of 13%, or $52,500, compared to the prior quarter and an increase of 23.3% compared to the prior year.
Sales prices have depreciated 37.1% over the last 5 years in Ivyland. The average listing price for Ivyland homes for sale on Trulia was $854,934 for the week ending December 25, which represents an increase of 2.8%, or $23,268, compared to the prior week and an increase of 2%, or $16,708, compared to the week ending December 4.
Average price per square foot for Ivyland PA was $164, an increase of 0% compared to the same period last year.
The median sales price for homes in Ivyland PA for September 13 to December 13 was $352,500 based on 10 home sales. Compared to the same period one year ago, the median home sales price increased 23.3%, or $66,500, and the number of home sales increased 150%.
There are currently 44 resale and new homes in Ivyland including 7 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process.
The average listing price for homes for sale in Ivyland PA was $854,934 for the week ending December 25, which represents an increase of 2.8%, or $23,268, compared to the prior week.
The 2014 Forecast:
Existing-home sales are expected to retain the healthy gains seen this year, while prices will stay on an uptrend in 2014.
- Limited supplies were the biggest factor in price performance in the past year, with inventory bouncing around 13-year lows so expect inventory shortages to be felt again next spring.
- Nationally, the supply of homes for sale stands at five months' worth. (Months' supply is a measurement of how long it would take to sell everything at the current pace of sales. A market balanced between buyers and sellers has about six months' supply of homes.) The current level slightly favors sellers!
- Mortgage reform is kicking in on January 10, bringing significant changes to home loan fiancing. That may bring some changes to the market that may impact current predictions.
Source: Trend MLS and Realtor.com
Comments(0)