Montgomery County is currently seeing a red-hot housing market, with homes receiving several offers within days of being put up for sale, writes Rachel Ravina for the Montgomery Media.
“There are too many buyers for the inventory that exists,” said Keith Kline, a Realtor at Coldwell Banker Hearthside in Collegeville.
By the end of last month, the Montgomery County Recorder of Deeds office had processed more than 76,000 documents. Usually, the agency records about 100,000 documents in any given year.
According to local estate agents and brokers, the housing market is benefiting from the move of city dwellers to the suburbs due to the COVID-19 pandemic.
“They could go out, maybe get a yard … they’ll have more space inside and out,” said Jon Christopher, the owner of Christopher Real Estate Services in Plymouth Meeting. “So that spurred a lot of buyers to move into purchasing.”
The popularity of Montgomery County has also been helped by the area’s prominent school districts, along with the current low-interest rates on housing loans.
“It’s the economic situation we’re in right now because people want to lock in really good interest rates,” said Montgomery County Recorder of Deeds Jeanne Sorg.
Read more about the red-hot housing market in Montgomery Media.