Philadelphia Suburbs Continue to See Rebound in Residential Real Estate Sales

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Road signs along Route 422. A new report shows that the sale of residential real estate in the Philadelphia suburbs continued to rebound in the first half of this year. (Image via the Montgomery County Planning Commission)

Home sales in the Philadelphia suburbs continued to rebound during the first six months of this year, writes Brian McCullough for The Times Herald.

A new report by Berkshire Hathaway HomeServices Fox & Roach Realtors found that the Greater Philadelphia 12-county region showed an 8.2 percent increase in the number of properties sold compared to the same period last year.

The report showed that the highest median sale price in the region for the six month period was in Chester County at $325,000, a 4.8 percent increase over 2016.

Montgomery County came in third at $271,000, a 4.4 percent gain, while Delaware County took fourth at $200,500, up 4.2 percent from last year.

The number of sales also increased with Montgomery County recording the highest number of sold single-family homes in the six months period at 3,262, a 3.7 percent increase. Chester County sold 2,213, up 7.2 percent, while Delaware County was just behind at 1,946, an increase of 5.9 percent.

“There are just not enough homes on the market to satisfy the demand,” said Steve Storti, chief marketing officer of Berkshire Hathaway.

Read more about local real estate market at The Times Herald by clicking here

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