Market Report & Homes Sales: Hatboro PA 19040 for November 2014
The median sales price for homes in Hatboro PA for August 14 to November 14 was $216,250. This represents a decline of 5.9%, or $13,654, compared to the prior quarter and a decrease of 9.9% compared to the prior year.
Sales prices have depreciated 8% over the last 5 years in Hatboro. The average listing price for Hatboro homes for sale was $273,478 for the week ending November 19, which represents a decline of 1%, or $2,820, compared to the prior week and a decline of 2.4%, or $6,755, compared to the week ending October 29.
Average price per square foot for Hatboro PA was $148, a decrease of 8.1% compared to the same period last year.
The median sales price for homes in Hatboro PA for August 14 to November 14 was $216,250 based on 36 home sales. Compared to the same period one year ago, the median home sales price decreased 9.9%, or $23,750, and the number of home sales decreased 47.8%.
There are currently 64 resale and new homes in Hatboro including 1 open house, as well as 61 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process.
The average listing price for homes for sale in Hatboro PA was $273,478 for the week ending November 19, which represents a decrease of 1%, or $2,820, 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