Market Dynamics Report Shows Declining Home Prices
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The median home sale price in Montgomery County, PA decreased from $265,000 in October 2007 to $244,500 in October 2009, a decline of 7.7% over the two year period. The number of homes sold also declined from 746 in October 2007 to 755 in October 2009. For sale listings, under contract listings, expired listings and new listings all saw median prices decline or remain stable from October 2007 through October 2009 as the housing market contracted.
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Market Dynamics Report Shows Declining Home Prices
- 1. Market Dynamics Prudential Fox & Roach Median Price (Sold) 2 Years (Monthly) 10/01/07 - 10/31/09 KEY INFORMATION Oct-07 Oct-09 Median Price Change Percent Change Sold 265,000 244,500 -20,500 -7.7 MLS: TReND Period: 2 Years (Monthly) Price: All Construction Type: All Bedrooms: All Bathrooms: All Lot Size: All Property Types: Residential: (Single Family, Twin/Semi-Detached, Unit/Flat, Row/Townhouse/Cluster, Mobile, Other) Sq Ft: All Counties: Montgomery BrokerMetrics® 1 of 2 11/04/09 Information not guaranteed. © 2009 - 2010 Terradatum and its suppliers and licensors (http://www.terradatum.com/metrics/licensors).
- 2. Market Dynamics Prudential Fox & Roach Median Price (Sold) 2 Years (Monthly) 10/01/07 - 10/31/09 FOR SALE UNDER CONTRACT SOLD EXPIRED NEW LISTINGS Time Period Median $ # Properties Median $ # Properties Median $ # Properties Median $ # Properties Median $ # Properties Oct-09 299,900 6,171 247,500 629 244,500 755 309,900 647 275,000 1,091 Sep-09 299,900 6,421 249,900 738 252,000 730 329,900 603 284,900 1,278 Aug-09 299,900 6,503 250,000 764 255,000 814 325,500 596 269,700 1,148 Jul-09 299,900 6,652 249,900 761 260,000 850 330,000 536 274,900 1,221 Jun-09 299,900 6,842 264,900 818 265,000 872 315,900 593 279,900 1,311 May-09 299,900 6,837 275,000 810 249,900 648 310,000 496 280,000 1,300 Apr-09 299,900 6,855 264,950 768 239,450 512 308,245 550 282,900 1,467 Mar-09 299,900 6,613 259,450 658 243,250 462 331,900 567 279,900 1,458 Feb-09 300,000 6,184 249,900 529 232,200 366 363,930 500 297,900 1,205 Jan-09 299,900 6,135 244,900 445 240,500 311 309,990 711 279,900 1,114 Dec-08 300,000 5,996 239,900 360 250,000 498 329,900 615 259,900 549 Nov-08 301,900 6,450 264,900 385 250,000 484 309,275 618 273,000 751 Oct-08 309,000 6,884 259,220 462 255,000 602 319,900 723 275,000 1,071 Sep-08 309,900 7,091 264,800 573 255,000 661 323,302 705 299,900 1,339 Aug-08 304,900 7,030 256,100 604 279,900 793 320,000 674 279,900 1,136 Jul-08 309,900 7,352 275,000 713 265,000 837 329,900 745 287,375 1,436 Jun-08 310,000 7,422 274,950 768 280,000 928 329,374 738 293,396 1,528 May-08 314,800 7,373 279,900 818 267,500 805 329,000 661 299,900 1,674 Apr-08 314,900 7,210 284,900 876 263,000 687 324,900 635 300,000 1,818 Mar-08 312,050 6,848 279,900 813 251,300 632 325,000 643 299,900 1,629 Feb-08 312,490 6,470 269,900 673 258,000 494 340,500 578 307,200 1,510 Jan-08 309,900 6,319 265,000 639 262,000 485 324,950 720 299,250 1,546 Dec-07 306,945 5,964 269,900 448 262,000 601 300,000 743 274,900 636 Nov-07 309,888 6,609 266,250 562 270,000 693 323,900 719 279,900 1,031 Oct-07 310,000 7,154 264,900 698 265,000 746 325,000 878 299,000 1,539 BrokerMetrics® 2 of 2 11/04/09 Information not guaranteed. © 2009 - 2010 Terradatum and its suppliers and licensors (http://www.terradatum.com/metrics/licensors).