Montgomery County Pennsylvania Luxury Housing Market Update November 217
Montgomery County, Pennsylvania - November 217 The real estate market is always changing, and if you re buying or selling a home especially a luxury property it s critical to understand the current market conditions. More than simply seeing what s happening to real estate as a whole in your local area, you need insights on what s taking place in the highend market, specifically with uncommon and unique homes like yours or those for which you re shopping. That s why Long & Foster publishes our exclusive LuxInsight report giving consumers like you invaluable information on the luxury market performance in your local area. Published monthly, LuxInsight provides you with A broad overview of real estate trends in the high-end real estate market. From median sale prices and active inventory to the current housing Demand and available active listings, LuxInsight gives you access to essential statistics you need to know. Beyond this valuable market information, Long & Foster s team of luxury sales associates is available to guide you through the real estate process. We believe luxury real estate is all about the individual, and when you work with us, you'll receive an experience tailored to your unique needs. You'll enjoy exceptional service and expertise, provided by agents who specialize in marketing and selling the most stunning luxury homes. You'll gain our exclusive connections around the world and get a luxury home experience with proven results. AT A GLANCE Active Inventory 399 New Listings 46 Units Sold 37 Median Sale Price $1,65, 16 14 12 1 8 6 4 2 N-14 F-15 M-15 A-15 N-15 F-16 M-16 A-16 N-16 F-17 M-17 A-17 N-17 9 8 7 6 5 4 3 2 1 N-14 F-15 M-15 A-15 N-15 F-16 M-16 A-16 N-16 F-17 M-17 A-17 N-17 $1,15, $1,1, $1,5, $1,, $95, $9, $85, N-14 F-15 M-15 A-15 N-15 F-16 M-16 A-16 N-16 F-17 M-17 A-17 N-17 Down -4.5% Down -11.5% Up 15.6% Up 12.4% 2
Montgomery County, Pennsylvania - November 217 Compared to last November, the total number of homes more than $75, available this month was lower by 4.5% and lower by 3.2% compared to November 215. Active inventory this November was 13.6% lower than the previous month s supply of available inventory. Total Inventory INVENTORY PRICE RANGES $75K + 14.6% $75K - $2M 11.56% $2M - $5M 1.9% $5M+.6% 6 ACTIVE INVENTORY 5 4 3 2 376 313 291 31 346 413 478 482 454 439 476 45 412 355 333 346 48 5 456 495 478 7 461 9 418 359 332 364 396 439 464 475 465 426 46 462 399 1 NEW LISTINGS & NEW CONTRACTS New Listings New Contracts ACTIVE INVENTORY Versus Previous Years 18 16 14 12 1 8 6 4 2 27 19 48 25 23 52 46 3 42 415 41 45 4 395 39 385 418 412 399 3
Montgomery County, Pennsylvania - November 217 This month s units sold for homes more than $75, was higher than at this time last year, an increase of 15.6% versus last November and an increase of 117.6% versus November of 215. There was an increase of 76.2% in luxury units sold in November compared to October of this year. 4 3 2 1 17 UNITS SOLD Versus Previous Years 32 37 9 8 7 6 5 4 3 2 1 24 3 13 11 18 21 32 48 49 57 36 21 17 36 16 UNITS SOLD 22 23 2 31 45 58 42 3 32 36 31 16 25 79 66 51 34 21 37 Sold Date City Zip Code RECENT SELECTED LUXURY SALES Final List Price Final Sale Price Sale Price as % of List Price November 7, 217 Villanova 1985 $4,, $3,25, 81.3% 21 November 9, 217 Gwynedd Valley 192 $1,995, $1,85, 92.7% 8 November 17, 217 Blue Bell 19422 $1,7, $1,65, 99.5% 12 October 3, 217 Lower Gwynedd 192 $1,185, $1,59, 89.4% 5 September 22, 217 Horsham 192 $1,79,932 $1,439,42 133.3% 1 September 16, 217 Collegeville 19426 $668,995 $956,94 143.% 1 August 9, 217 Haverford 1941 $1,799, $1,525, 84.8% 264 August 29, 217 Wynnewood 1996 $925, $965, 14.3% 95 August 25, 217 Ardmore 193 $85, $885, 14.1% 7 August 3, 217 Wynnewood 1996 $82, $8, 97.6% 27 DOM Buyer Long & Foster Represented Seller 4
Montgomery County, Pennsylvania - November 217 In November, the median sales price for homes more than $75, was $1,65,, an increase of 12.4% compared to last year. The current median sales price was higher by 7.% than in October. $1,1, $1,5, $1,, $95, $9, $85, $8, $95, MEDIAN SALES PRICE Versus Previous Years $947,5 $1,65, $1,2, MEDIAN SALES PRICE $1,, $8, $6, $1,9,125 $97, $1,115, $1,1, $1,1, $1,1, $1,23,75 $912,5 $995, $925, $1,11,25 $1,49, $95, $957,33 $972, $95, $1,32,235 $1,3,2 $935, $985, $877,5 $96, $981,64 $1,12,5 $947,5 $917,5 $93, $996,86 $957,5 $95, $913,26 $935, $899,75 $915, $939,61 $995, $1,65, $4, $2, $ $1,, $9,, $8,, $7,, $6,, $5,, $4,, $3,, $2,, $1,, $ $28,573,195 TOTAL DOLLAR VOLUME SOLD $18,667,34 $35,548,583 $48,388,998 Total volume sold this November was 36.1% higher than the same month one year ago. 5
Montgomery County, Pennsylvania - November 217 In November, the average sale price for homes more than $75, was 94.3% of the average list price, which is 1.9% lower than at this time last year. This month, the average number of days on market was 82, lower than the average last year, which was 15, a decrease of 21.9%. 1% 98% 96% 94% 92% 9% 88% 86% 94.7% SALE PRICE AS % OF LIST PRICE 95.1% 96.2% 94.3% 25 2 15 1 5 16 125 168 113 75 13 113 66 54 7 59 57 68 DAYS ON MARKET 96 14 17 14 96 11 76 84 115 112 15 192 168 8 118 94 85 63 68 59 127 76 82 MONTHS OF SUPPLY In November, there were 1.8 months of supply available, compared to 13.1 in November of 216. That is a decrease of 17.6% versus a year ago. 3 25 2 15 1 5 15.7 1.4 22.4 28.2 19.2 19.7 14.9 1. 9.3 7.7 13.2 21.4 24.2 9.9 2.8 15.7 17.7 22.3 14.7 11. 8.2 1.2 11. 15. 13.1 1. 1.7 22.8 15.8 1. 1.6 6. 7.1 8.4 13.5 22. 1.8 6
Montgomery County, Pennsylvania - November 217 References & Definitions MONTGOMERY, PA: LISTING SOURCE, REPORTING AREA, & DEFINITION Based on data supplied by the TREND MLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. This report includes coverage for the county of Montgomery, Pennsylvania only. Analysis dates for all regions are November 1, 214 through November 3, 217. MEDIA CONTACT Vicki Bendure, Bendure Communications Email: Vicki@bendurepr.com Phone: (54) 687-336 Contacts & Disclaimers CREATED BY Michael Bystry, Long & Foster Real Estate, Inc. Senior Market Research Analyst DISCLAIMER "Information contained in this report is based on data provided by the local area Multiple Listing Service and its member Association(s) of REALTORS. No representation, expressed or implied, should be taken from information herein. Neither these organizations nor Long & Foster Real Estate, Inc. guarantee or are in any way responsible for the accuracy of these results, which do not reflect all activity in the marketplace. For more information regarding your specific market, contact one of Long & Foster s knowledgeable and experienced sales associates. Analysis dates are November 1, 214 through November 3, 217. Information contained in this report is not limited to transactions done by Long & Foster Real Estate, Inc. The data reported is solely for residential real estate transactions. Information contained in this report is deemed reliable but not guaranteed, should be independently verified and does not constitute an opinion of Long & Foster Real Estate, Inc. For more information regarding your specific market, contact one of Long & Foster s knowledgeable and experienced sales associates. Analysis dates are November 1, 214 through November 3, 217". Material appearing in this report may be reproduced or copied without permission. Please use the following acknowledgement for citation: Source: Long & Foster Real Estate, Inc. and also cite the appropriate MLS. 7