The local housing market has been brisk, with homes selling quickly and for high prices. Low inventory and strong demand have been fueling the price rise. Here are average sale prices for three local counties, showing the increase in prices from May 2020 to May 2021.

Montgomery County   +14.79%

May 2020:    $375,702
May 2021:    $431,266

Bucks County    +12.56%

May 2020:    $397,167
May 2021:    $447,053

Chester County    +8.25%

May 2020:    $449,105
May 2021:    $486,165

Updated homes continue to see the strongest demand, with many attracting multiple offers. Even dated homes often are not on the market long, if their price reflects the work needed.

Data from BrightMLS as of June 21, 2021

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Read more of Annette’s real estate articles for the latest real estate advice. If you’re planning to buy or sell a home, contact Annette Nelson at (610) 247-7892 or annette@preferredhomes.com

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