In Montco, a tight housing market
is putting the squeeze on buyers and boosting prices. Here’s why.
Buyers Compete
for Fewer Listings
Montgomery County started the year
with a much lower number of homes for sale than last year. This January, 2,310
homes were for sale in the county, compared with 3,868 in January of last year—a
huge difference. New listings this
January and February were also down compared with last year, further
exacerbating the problem. New listings did
increase this March, but not enough to make up for previous declines.
Average Sale
Prices Are Up
The imbalance between housing
supply and buyer demand has caused prices to rise, to the disappointment of
many buyers. The average sale price for Montgomery
County as a whole was $401,633 this March, compared with $354,048 last March.
Here are the average sale prices this
March versus last March for some of our local school districts:
District
March 2020
March 2021
North Penn
$318,425
$379,933
Souderton
$319,795
$413,294
Perkiomen Valley
$323,375
$343,150
Spring-Ford
$353,751
$395,734
Methacton
$385,064
$518,213
Wissahickon
$589,692
$606,374
Average Days to
Sell is Down
With fewer homes for sale, homes
are selling quicker. This March, the average days to sell was just 27, compared
with 44 last March. In some neighborhoods, homes are selling much quicker,
putting pressure on buyers to act quickly before the home they like is sold.
Data from BrightMLS
as of April 6, 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
#realestate
#housing #MontgomeryCounty #NorthPenn
#Souderton #PerkiomenValley
#Methacton #SrpingFord #Wissahickon
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© 2021 by Annette Nelson. All Rights Reserved.