Market Report: Lower Gwynedd, PA Real Estate for November 10, 2013
The median sales price for homes in Lower Gwynedd PA for August 13 to November 13 was $583,350. This represents an increase of 11.1%, or $58,350, compared to the prior quarter and a decrease of 6.7% compared to the prior year.
Sales prices have appreciated 54.7% over the last 5 years in Lower Gwynedd. The average listing price for Lower Gwynedd homes for sale was $1,294,336 for the week ending November 6, which represents an increase of 6.8%, or $82,505, compared to the prior week and an increase of 9.1%, or $107,751, compared to the week ending October 16.
Average price per square foot for Lower Gwynedd PA was $172, a decrease of 3.9% compared to the same period last year.
Lower Gwynedd Summary
The median sales price for homes in Lower Gwynedd PA for August 13 to November 13 was $583,350 based on 10 home sales. Compared to the same period one year ago, the median home sales price decreased 6.7%, or $41,650, and the number of home sales increased 400%.
There are currently 31 resale and new homes in Lower Gwynedd including 3 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process.
The average listing price for homes for sale in Lower Gwynedd PA was $1,294,336 for the week ending November 6, which represents an increase of 6.8%, or $82,505, compared to the prior week.
Things to be Thankful for in 2013:
- Median Home Sale Prices showed 9 consecutive months of double-digit year-over-year increases.
- Total existing-home sales, which are completed transactions that include single-family homes, townhouses, condominiums and co-ops are at the highest pace since February 2007 and have remained above year-ago levels for the past 26 months.
- The national median existing-home price for all housing types was has seen the strongest year-over-year price gain since October 2005 and marks 18 consecutive months of year-over-year price increases.
- Distressed homes – foreclosures and short sales – accounted for 12 percent of August sales, down 15 percent in July, and is the lowest since monthly tracking began in October 2008.
This Thanksgiving: May you feel happy, may you feel healthy and may you feel at ease!
Source: Trend MLS and Realtor.com
I am thankful for all of my clients -- past, present and future.