LANSDALE MARKET MINUTE REPORT
Here is a quick look at what January brought us as far as sales are concerned in the Lansdale area.
The numbers are in for January. A less than stellar month, but better then January 2011.
Here are th Lansdale (19446) numbers compared to a year ago.
Units Sold - 27... Up 13%
Active Inventory - 250... Down 7%
Median Sale Price - $223,000... Down - 5%
Days on Market - 82...Up 22%
New Listings - 62...No change
Current Contracts - 49...up 88%
Sold vs. List Price - 96.3%...no change
Months of Supply - 9.3... down 17% (this is important, because as we decrease the months of supply to 6, we will be in a more stable market. If we get below 6, we will be in a sellers market. Don't get too excited, we are a long way from a sellers market, better to be stable)
Last years sad numbers could be attributed to several things. The weather last January vs. this year's spring temps may be bringing buyers out. But the strongest reason may be the increase of first time home buyers back in the market again. We still need to see banks lending, and easing their lending criteria, so more buyers can enter the market and start reducing the inventory. But first time home buyers are crucial to the housing market recovery. When they buy, they allow that seller to move up and buy, etc.
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