Market Report & Homes Sales: Warminster PA 18974 -- July 2015

Market Report & Homes Sales:  Warminster PA 18974 -- July 2015

The median sales price for homes in Warminster PA for March 15 to June 15 was $237,500. This represents a decline of 3.5%, or $8,500, compared to the prior quarter and a decrease of 2.8% compared to the prior year.

Sales prices have depreciated 12% over the last 5 years in Warminster. The average listing price for Warminster homes for sale was $304,107 for the week ending June 17, which represents an increase of 4.8%, or $13,997, compared to the prior week and an increase of 10.2%, or $28,230, compared to the week ending May 27.

Average price per square foot for Warminster PA was $160, a decrease of 4.2% compared to the same period last year.

Warminster Summary

The median sales price for homes in Warminster PA for March 15 to June 15 was $237,500 based on 84 home sales. Compared to the same period one year ago, the median home sales price decreased 2.8%, or $6,900, and the number of home sales increased 31.2%.

There are currently 114 resale and new homes in Warminster, including 2 open houses, as well as 100 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process.

The average listing price for homes for sale in Warminster PA was $304,107 for the week ending June 17, which represents an increase of 4.8%, or $13,997, 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