Main Line Real Estate | Lower Merion Home Sales Statistics - Q3-2007 Real Estate Market Data

By
Real Estate Broker/Owner with BIG Realty

In the Lower Merion School District, the housing market data from July 2007 to (end of) September 2007 showed some surprising results, as compared to the negative data we have been bombarded with from the main stream media. Then again, nothing sells like bad news, except worse news.

The lowest sales price for a home in Lower Merion township was $90,000 (I can only imagine the shoebox that home must be!), with the highest selling home (or should I say Main Line Mansion) sold at a mere $4,495,000. The home was originally listed at $3,999,000.

If you are thinking of buying a home on the Main Line, better get out your checkbook and get ready to pay. The average (yes, AVERAGE!) listed price for homes on the market was $733,256. That means half of the homes on the market for sale were for higher than $760,000, and half lower. And to think, I was worried about paying for my three kids' college funds!

The negative news: The average days on market (DOM) was 62 days for Q3-2007, as compared to 45 DOM for June 2006.

Courtesy Of : Christopher Benedict 484-433-3931

RE/MAX Main Line 610-935-3200

Monthly Statistics for the Date Range Selected

Date

Units Listed

Listed Volume

Listed Average

Pended

Units Sold

Sold Volume

Sold Average

Average DOM

Sep 2007

158

146,961,003

930,132

42

51

35,577,700

697,601

78

Aug 2007

120

110,616,689

921,805

55

105

80,394,842

765,665

63

July 2007

90

85,561,299

950,681

66

100

61,379,330

613,793

53

 

 

 

 

 

 

 

 

 

Totals:

368

343,138,991

932,442

163

256

177,351,872

692,780

62

 

 

 

 

 

 

 

 

 

 

Pricing Details of Sold Units for the Date Range Selected

Minimum Prices

Maximum Prices

Average Prices

Original List Price : $95,000

Original List Price: $3,999,000

Original List Price: $733,256

Sold Price : $90,000

Sold Price: $4,495,000

Sold Price: $692,780

 

 

 

 

Inventory Accumulation figures are only calculated when Report End Month is the current month 

 

Market Statistics Criteria Used

Date Range:

7/2007 to 9/2007

Price Range:

$0 to $9,999,000

Property Category:

Residential

Area:

L Merion

 

© Copyright 2007 TREND MLS - Information Deemed Reliable but Not Guaranteed. Printed 10/3/2007 10:52:33 PM


 

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