Home Prices in Lower Merion PA for January 2013
Real estate market data for Lower Merion, PA is provided by David Brandschain of Keller Williams Main Line Realty
Lower Merion Home Prices
The average price of settled homes in Lower Merion are increasing at a significant rate. Even though, we have seen average listing prices decline slightly over the last 12 months, as, we examine home prices in Lower Merion PA. Beginning in July, the average price of sold homes has exceeded the average listing price of homes. This spread has increased dramatically. We expect prices to continue to increase substantially in 2013, as, the overall economy continues to improve. If you are considering buying a home, now would be a good time, as the number of available homes is beginning to shrink. The decline in supply will place additional upward pressure on prices. So if you have been searching for the bottom in Lower Merion, that point was reached last summer. To make sure that you properly navigate this changing market, you'll want an agent that does a thorough market analysis of the home you are making an offer on. And remember, it is now quite common for fairly priced homes to receive multiple offers.
Lower Merion Real Estate Report Summary
The median list price in January for single family homes in Lower Merion is $579,000. Prices dropped 2.56% from the previous month.
The average price per square foot for listings in this area is $220.
The median sales price in July for single family homes was $780,000. The average sales price increased by 20.93% from the previous month.
Find Homes for Sale in Lower Merion PA
Visit my website to search for homes in Lower Merion PA or to be notified when Lower Merion homes come on the market.
To find out what your home is worth in the current market email me or call 484-388-1802.