Market Report & Homes Sales: Yardley PA 19067 for June 2014
The median sales price for homes in Yardley PA for March 14 to June 14 was $345,000. This represents a decline of 6.8%, or $25,000, compared to the prior quarter and an increase of 2.4% compared to the prior year.
Sales prices have appreciated 2.7% over the last 5 years in Yardley. The average listing price for Yardley homes for sale was $446,720 for the week ending Jun 18, which represents a decline of 3.2%, or $14,880, compared to the prior week and a decline of 3.5%, or $16,233, compared to the week ending May 28.
Average price per square foot for Yardley PA was $178, a decrease of 3.8% compared to the same period last year.
Yardley Summary
The median sales price for homes in Yardley PA for March 14 to June 14 was $345,000 based on 85 home sales. Compared to the same period one year ago, the median home sales price increased 2.4%, or $8,000, and the number of home sales decreased 19%.
There are currently 241 resale and new homes in Yardley including 24 open houses, as well as 63 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process.
The average listing price for homes for sale in Yardley PA was $446,720 for the week ending June 18, which represents a decrease of 3.2%, or $14,880, compared to the prior week.
Buying vs. Renting?
AND THE WINNER IS . . .
Is it better to buy or rent? Whether renting is better than buying depends on many factors. Low mortgage rates are helping to keep home buying more affordable. According to one analysis homeownership is 38% cheaper than renting in the 100 largest metro areas.
Assuming the following:
- Buy a home with 20% down, borrowing the rest over 30 years at a fixed rate of 4.5%.
- Itemize your federal tax deductions and are in the 25% tax bracket
- Stay in your home for at least seven years
- Home prices appreciate at a fairly conservative 2% annual rate
- Source: Trend MLS and Realtor.com
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