Hearthside Happenings

Market Update: July 2019


Let's take a look at the market in the Greater Philadelphia area for July 2019.
Posted: August 15, 2019 by Joe Carelli

July 2019 Market Update

With a snap of a finger, July is over. We have finally entered the dog days of summer, school is around the corner and schedules are about to get hectic.  We hope everyone is making the last of the summer before the weather officially begins to cool down. In the meantime, let’s take a look at how the market performed during the month of July 2019 versus July 2018.

WHAT’S HAPPENING NOW

 “As we are approaching the ending of the summer we are seeing that the median sold pricing has been up throughout the region. We’ve also noticed that pending contracts continue to be a positive sign of future business to come. ” stated Jamie Mancuso, CEO of Coldwell Banker Hearthside.

INVENTORY:

Bucks County: 

-7.4% to 2,950        
(2018: 3,185)                           

Lehigh Valley:

-15.7% to 5,611
(2018: 6,655)

Montgomery County:

-4.2% to 8,327
(2018: 8,692)                         

Northeast Philadelphia:

-11.4% to 991
(2018: 1,119)

MEDIAN SOLD PRICING:

We are noticing that all markets are up both moderately to solidly in comparison to last year.

Bucks County: 

+2.3% to $340,000
(2018: $332,500)

Lehigh Valley:

+9.0% to $212,500
(2018: $195,000)

Montgomery County:

+3.3% to $385,000
(2018: $372,750) 

Northeast Philadelphia

+15.4% to $213,500 
(2018: $185,000)          


PENDING CONTRACTS: 

Pending contracts remain moderately to strongly positive with the exception of Northeast Philadelphia. 

Bucks County: 

+18.6% to 843 from 711           

Lehigh Valley:

+15.9% to 1,223 from 1,055                                                       

Montgomery County:

+9.1% to 2,315 from 2,121

Northeast Philadelphia:

-3.7% to 368 from 3822     

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