Market Report & Homes Sales: Huntingdon Valley PA 19006 for March 2014

By
Real Estate Agent with Addison Wolfe Real Estate PA License RS321608

 

Market Report & Homes Sales: Huntingdon Valley PA 19006 for March 2014

 

The median sales price for homes in Huntingdon Valley PA for December 13 to March 14 was $280,000. This represents a decline of 24%, or $88,250, compared to the prior quarter and a decrease of 24.3% compared to the prior year.

Sales prices have depreciated 22.4% over the last 5 years in Huntingdon Valley. The average listing price for Huntingdon Valley homes for sale was $531,384 for the week ending March 19, which represents a decline of 4.2%, or $23,255, compared to the prior week and a decline of 9.3%, or $54,657, compared to the week ending February 26.

Average price per square foot for Huntingdon Valley PA was $155, an increase of 4.7% compared to the same period last year.

 

 
 
Huntingdon Valley Summary

The median sales price for homes in Huntingdon Valley PA for December 13 to March 14 was $280,000 based on 15 home sales. Compared to the same period one year ago, the median home sales price decreased 24.3%, or $90,000, and the number of home sales decreased 44.4%.

There are currently 102 resale and new homes in Huntingdon Valley including 3 open houses, as well as 58 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 $531,384 for the week ending March 19, which represents a decrease of 4.2%, or $23,255, 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

 

Posted by

Karen Johnson

Karen Johnson, Realtor, ABR
The Jay Ginsberg Group at
Addison Wolfe Real Estate
PA License RS321608
550 Union Square Drive
New Hope, PA 18938
215-862-5500 Office
267-808-7050 Cell / Text
karenjohnson@addisonwolfe.com
addisonwolfe.com/karenjohnson

 

 

 

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"Remember there is nothing wrong with any piece of real estate the right price can't fix!"

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