In February 2011, there were 988 properties for sale in Montgomery County, PA with a total volume of $348,397,006, making the average list price $352,628. 501 homes went under contract and 314 went to closing in the month of February.
In March, the beginning of the spring market peeked through the long winter and started popping up with the daffodils. Realizing all of the incredible deals out there, March did a 360 and went out with a roar! There were 1542 homes on the market with a total volume of $568,512,056, making the average list price $368,684. With the increase in inventory, comes the increase in sales! 632 homes went under contract and 451 homes made settlement.
As a buyer, you should be taking a good look at the numbers and get out there and inspect the inventory. There are some fantastic buys out there and the old cliche of “now is the time to buy”, can be backed up with hard evidence. As a seller, you need to look at the numbers and decide how your 1 property compares to the other 1542 on the market and hire an professional who can market the property in a way to set you apart and get you noticed in the most positive light.
If you are wondering how things will go in the future, stay tuned for our monthly updates showing these stats, but in my opinion, you should stop looking at the stats and become one!