Hearthside Happenings

Market Update: February 2020


Let's take a look at the numbers for Montgomery, Bucks, Lehigh Valley, Northeast Philadelphia and Mercer County for Feb 2020.
Posted: March 16, 2020 by Joe Carelli

February is in view now and winter is almost behind us. Let's take a look back at how the real estate market performed in comparison to 2019.

WHAT’S HAPPENING NOW

"With February 2020 we saw solid numbers in the second month of the new year. We saw some notable increases in sold units particularly in Montgomery and Northeast Philadelphia.” Jamie Mancuso, CEO of Coldwell Banker Hearthside.

INVENTORY:

Bucks County: 

-16.7% to 1,904        
(2019: 2,285)                           

Lehigh Valley:

-26.3% to 4,049
(2019: 5,493)

Montgomery County:

-10.3% to 5,427
(2019: 6,053)                         

Northeast Philadelphia:

-5.3% to 721
(2019: 761)

Mercer:

-10.9% to 1,444
(2019: 1,621)

 

MEDIAN SOLD PRICING:

Bucks County: 

-3.5% to $302,000
(2019: $312,850)

Lehigh Valley:

+3.9% to $185,000
(2019: $178,000)

Montgomery County:

+13.9% to $375,500
(2019: $329,096)

Northeast Philadelphia:

+16.5% to $210,000 
(2019: $180,300)    

Mercer:

+9.5% to $230,000 
(2019: $210,000)                

SOLD UNITS:

Bucks County: 

+2.0% (449 from 440)

Lehigh Valley:

-4.2% (594 from 620)

Montgomery County:

+7.3% (1,327 from 1,237)

Northeast Philadelphia:

+8.5% (205 from 189) 

Mercer:

-2.7% (215 from 221)                     


PENDING CONTRACTS: 

Bucks County: 

+20.5% to 705 from 585          


Lehigh Valley:

+22.3% to 980 from 801                                                     

Montgomery County:

+22.4% to 2,018 from 1,649

Northeast Philadelphia:

+24.8% to 282 from 226

Mercer:

+25.1% to 409 from 327

 

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