Market Report & Homes Sales: Richboro PA 18954 for June 2014
The median sales price for homes in Warminster PA for March 14 to June 14 was $236,900. This represents a decline of 2.1%, or $5,100, compared to the prior quarter and an increase of 0.8% compared to the prior year.
Sales prices have depreciated 9.8% over the last 5 years in Warminster. The average listing price for Warminster homes for sale was $261,390 for the week ending Juen 18, which represents a decline of 2.5%, or $6,683, compared to the prior week and a decline of 3.4%, or $9,334, compared to the week ending May 28.
Average price per square foot for Warminster PA was $166, an increase of 5.7% compared to the same period last year.
Richboro Summary
The median sales price for homes in Warminster PA for March 14 to June 14 was $236,900 based on 53 home sales. Compared to the same period one year ago, the median home sales price increased 0.8%, or $1,900, and the number of home sales decreased 32.9%.
There are currently 141 resale and new homes in Warminster including 3 open houses, as well as 111 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process.
The average listing price for homes for sale in Warminster PA was $261,390 for the week ending Jun 18, which represents a decrease of 2.5%, or $6,683, 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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