Market Report & Homes Sales: Huntingdon Valley PA 19006 for July 2014
The median sales price for homes in Huntingdon Valley PA for March 14 to June 14 was $344,250. This represents an increase of 4.3%, or $14,250, compared to the prior quarter and a decrease of 2.8% compared to the prior year.
Sales prices have depreciated 3.7% over the last 5 years in Huntingdon Valley. The average listing price for Huntingdon Valley homes for sale was $514,826 for the week ending Jun 25, which represents a decline of 6.5%, or $36,062, compared to the prior week and a decline of 2.3%, or $11,975, compared to the week ending June 4.
Average price per square foot for Huntingdon Valley PA was $154, a decrease of 3.1% compared to the same period last year.
The median sales price for homes in Huntingdon Valley PA for March 14 to June 14 was $344,250 based on 30 home sales. Compared to the same period one year ago, the median home sales price decreased 2.8%, or $9,750, and the number of home sales decreased 23.1%.
There are currently 150 resale and new homes in Huntingdon Valley including 1 open house, as well as 57 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 $514,826 for the week ending June 25, which represents a decrease of 6.5%, or $36,062, compared to the prior week.
Buying vs. Renting?
AND THE WINNER IS . . .
Is it better to buy or rent? Whether renting is better than buying depends on many factors. Low mortgage rates are helping to keep home buying more affordable. According to one analysis homeownership is 38% cheaper than renting in the 100 largest metro areas.
Assuming the following:
- Buy a home with 20% down, borrowing the rest over 30 years at a fixed rate of 4.5%.
- Itemize your federal tax deductions and are in the 25% tax bracket
- Stay in your home for at least seven years
- Home prices appreciate at a fairly conservative 2% annual rate
Source: Trend MLS and Realtor.com