Home Sales in Montgomery County Continue to Grow

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Home sales in Montgomery County and the surrounding area are continuing their rise since the beginning of 2017 with no signs of slowing down.

Home sales in Montgomery County and the surrounding area are not showing any signs of slowing down according to the latest figures published by Berkshire Hathaway HomeServices Fox & Roach, writes Sandy Smith for Philadelphia Magazine.

The number of properties sold in Montgomery County in the first quarter of 2017 was 1,951, compared to 1,924 for the same period last year.

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The median price of properties sold also rose from $250,000 in the first quarter of last year compared to $256,575 last quarter.

To show just how strong the home sales are, properties are spending less time on the market, dropping to just 74 days last quarter compared to 82 days for the same period last year.

The situation is the same in the 12-county greater Philadelphia area, where a total of 15,750 homes were sold last quarter.

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This is an 8.7 percent increase compared to the same period a year ago. The average sales prices also went up by 1.6 percent, with the median price now $247,361.

This is not necessarily good news for buyers, however, as the overall inventory statewide is shrinking. The number of homes on the market has dropped by nearly 20 percent to 26,772 over the last three months.

Read more about last quarter’s results at Philadelphia Magazine by clicking here.

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Top photo credit: Montgomery County Planning Commission Pottstown Victorian House via photopin (license)

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