Market Report & Homes Real Estate Sales: Colmar PA 18915 November 2014

Market Report & Homes Real Estate Sales:  Colmar PA 18915 November 2014

The median sales price for homes in Colmar PA for August 14 to November 14 was $274,000. This represents a decline of 15.7%, or $51,000, compared to the prior quarter and a decrease of 18.9% compared to the prior year.

Sales prices have depreciated 2.5% over the last 5 years in Colmar. The average listing price for Colmar homes for sale was $308,727 for the week ending November 5, which represents a decline of 0.7%, or $2,037, compared to the prior week and an increase of 5.6%, or $16,373, compared to the week ending October 15.

Average price per square foot for Colmar PA was $157, an increase of 9% compared to the same period last year.

  

Colmar Summary

The median sales price for homes in Colmar PA for August 14 to November 14 was $274,000 based on 4 home sales. Compared to the same period one year ago, the median home sales price decreased 18.9%, or $64,000, and the number of home sales increased 0%.

There are currently 10 resale and new homes in Colmar including 1 open house, as well as 3 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process.

The average listing price for homes for sale in Colmar PA was $308,727 for the week ending November 5, which represents a decrease of 0.7%, or $2,037, 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