Market Report & Homes Sales: Huntingdon Valley PA 19006 February 2014
The median sales price for homes in Huntingdon Valley PA for November 13 to February 14 was $300,100. This represents a decline of 14.3%, or $50,150, compared to the prior quarter and a decrease of 17.2% compared to the prior year.
Sales prices have depreciated 14.3% over the last 5 years in Huntingdon Valley. The average listing price for Huntingdon Valley homes for sale was $527,678 for the week ending February 12, which represents a decline of 3.7%, or $20,197, compared to the prior week and a decline of 11.3%, or $67,031, compared to the week ending January 22.
Average price per square foot for Huntingdon Valley PA was $157, an increase of 4.7% compared to the same period last year.
The median sales price for homes in Huntingdon Valley PA for November 13 to Febraury 14 was $300,100 based on 33 home sales. Compared to the same period one year ago, the median home sales price decreased 17.2%, or $62,400, and the number of home sales decreased 17.5%.
There are currently 76 resale and new homes in Huntingdon Valley including 3 open houses, as well as 55 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process.
The average listing price for homes for sale in Huntingdon Valley PA was $527,678 for the week ending February 12, which represents a decrease of 3.7%, or $20,197, compared to the prior week.
The 2014 Forecast:
Existing-home sales are expected to retain the healthy gains seen this year, while prices will stay on an uptrend in 2014.
- Limited supplies were the biggest factor in price performance in the past year, with inventory bouncing around 13-year lows so expect inventory shortages to be felt again next spring.
- Nationally, the supply of homes for sale stands at five months' worth. (Months' supply is a measurement of how long it would take to sell everything at the current pace of sales. A market balanced between buyers and sellers has about six months' supply of homes.) The current level slightly favors sellers!
- Mortgage reform is kicking in on January 10, bringing significant changes to home loan fiancing. That may bring some changes to the market that may impact current predictions.
Source: Trend MLS and Realtor.com