Market Report & Homes Sales: Huntingdon Valley PA 19006 November 2014
The median sales price for homes in Huntingdon Valley PA for August 14 to November 14 was $370,000. This represents an increase of 3.3%, or $11,750, compared to the prior quarter and an increase of 5.6% compared to the prior year.
Sales prices have appreciated 1.4% over the last 5 years in Huntingdon Valley. The average listing price for Huntingdon Valley homes for sale was $573,804 for the week ending November 12, which represents a decline of 2.4%, or $13,971, compared to the prior week and an increase of 2.5%, or $14,172, compared to the week ending October 22.
Average price per square foot for Huntingdon Valley PA was $157, an increase of 0.6% compared to the same period last year.
The median sales price for homes in Huntingdon Valley PA for August 14 to November 14 was $370,000 based on 29 home sales. Compared to the same period one year ago, the median home sales price increased 5.6%, or $19,750, and the number of home sales decreased 57.4%.
There are currently 113 resale and new homes in Huntingdon Valley including 5 open houses, as well as 51 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 $573,804 for the week ending November 12, which represents a decrease of 2.4%, or $13,971, 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