Market Report & Homes Sales: Fountainville PA 18923 for July 2014
The median sales price for homes in Fountainville PA for April 14 to Juyl 14 was $372,000. This represents an increase of 23.2%, or $70,000, compared to the prior quarter and a decrease of 20.9% compared to the prior year.
Sales prices have depreciated 11.4% over the last 5 years in Fountainville. The average listing price for Fountainville homes for sale was $434,492 for the week ending July 2, which represents a decline of 2.6%, or $11,370, compared to the prior week and an increase of 6.1%, or $24,802, compared to the week ending June 11.
Average price per square foot for Fountainville PA was $142, a decrease of 7.2% compared to the same period last year.
The median sales price for homes in Fountainville PA for April 14 to July 14 was $372,000 based on 4 home sales. Compared to the same period one year ago, the median home sales price decreased 20.9%, or $98,000, and the number of home sales decreased 42.9%.
There are currently 13 resale and new homes in Fountainville including 1 open house, as well as 6 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process.
The average listing price for homes for sale in Fountainville PA was $434,492 for the week ending Jul 02, which represents a decrease of 2.6%, or $11,370, 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