May 2011 Market Statistics

As a potential real estate buyer or seller, it is important to have an idea of what is going on in the local real estate market. These market statistics for Bucks County, Chester County, Delaware County, Montgomery County and Philadelphia County are provided by TREND MLS and provide a simple and easy-to-read market snapshot of the real estate industry in the Greater Philadelphia Area. If you have questions regarding these market statistics or would like a comparative market analysis on your home, click here to email us!

Bucks County – Single-Family Homes Market Snapshot – May 2011

Bucks County, PA Current Market Stats, Single Family Homes, March 2011

In Bucks County, there has been a 16.05% decrease in the number of settled units when comparing May 2010 and May 2011. Bucks County saw a decrease in all categories this month. The total settled volume within the county had a large decrease of 19.53%. In May 2010, the settled volume was $589,139,000 compared to $474,088,000 this year. Homes are still selling for a little more than 90% of their original asking price.

Chester County – Single-Family Homes Market Snapshot – May 2011

Chester County, PA Current Market Stats, Single Family Homes, March 2011

The number of settled units in Chester County decreased from 1,556 in May 2010 to 1,411 in May 2011, showing a decrease of 9.32%. The average settled price when comparing May 2010 and May 2011 stayed nearly the same, showing a decrease of just $2,000. The total settled volume in the county decreased 9.90% but homes are still selling for 90% of their original asking price.

Delaware County – Single-Family Homes Market Snapshot – May 2011

Delaware County, PA Current Market Stats, Single Family Homes, February 2011

Delaware County was the only county this month to show an increase in two categories: the average settled price increased by 6.75% and the median settled price increased by 4.21%. However, the county showed the second to largest decrease in the number of settled units this month, down 20.29% from May 2010. A decrease was also seen in the total settled volume, down 15.15% from May 2010.

Montgomery County – Single-Family Homes Market Snapshot – May 2011

Montgomery County, PA Current Market Stats, Single Family Homes, February 2011

The number of settled units in Montgomery County this month decreased by 17.26% this month along with a decrease of 19.50% in total settled volume. The average and median settled prices saw only small decreases this month compared to May 2010, down 2.57% and 3.45% respectively. Homes in Montgomery County are still selling for 90.66% of the original asking price, down just 2.28% compared to May 2010.

Philadelphia County – Single-Family Homes Market Snapshot – May 2011

Philadelphia County, PA Current Market Stats, Single Family Homes, February 2011

Philadelphia County saw the largest decrease in the area this month in the number of settled units when compared to May 2010. Settled units decreased from 4,423 in May 2010 to 3,474 in May 2011, showing a decrease of over 21%. The total settled volume also showed a large decrease, from $713,911,000 in May 2010 to $546,725,000 in May 2011. Homes in Philadelphia County are now selling for 88.87% of the original asking price, down 2.71% from May 2010.

Condos:

Bucks County – Market Snapshot for Condos – May 2011

Bucks County, PA Current Market Stats, Condos, March 2011

Bucks County condo sales decreased between May 2010 and May 2011 by 27.98%. The total settled volume had a large decrease from $55,816,000 in May 2010 to $37,933,000 in May 2011. Average and median settled prices decreased 5.68% and 4.25% respectively from May 2010 to May 2011. In May 2011, condos sold for 90.73% of the original asking price, a decrease of 3.73% from May 2010.

Chester County – Market Snapshot for Condos – May 2011

Chester County, PA Current Market Stats, Condos, March 2011

Condo sales in Chester County saw a large decrease from 141 settled units in May 2010 to only 87 settled units in May 2011, posting a decrease of 38.30%. The average and median settled prices did see an increase of 3.27% and 7.57% respectively when comparing May 2010 to May 2011. The total settled volume of condos in Chester County saw another large decrease of 36.40% between May 2010 and May 2011.

Delaware County – Market Snapshot for Condos – May 2011

Delaware County, PA Current Market Stats, Condos, March 2011

In Delaware County, the number of settled condo units decreased from 127 in May 2010 to 93 in May 2011. The average settled price saw a large increase, from $184,000 in May 2010 to $223,000 in May 2011. The total settled volume of condos decreased 11.11% when comparing May 2010 to May 2011.

Montgomery County – Market Snapshot for Condos – May 2011

Montgomery County, PA Current Market Stats, Condos, March 2011

Montgomery County condo sales saw another decrease this month with total settled units decreasing 17.10% from 269 units in May 2010 to 223 units in May 2011. The total settled volume of condos decreased 20.47% between May 2010 and May 2011. The median settled price also decreased from $188,000 in May 2010 to $170,000 in May 2010.

Philadelphia County – Market Snapshot for Condos – May 2011

Philadelphia County, PA Current Market Stats, Condos, March 2011

Philadelphia County saw the smallest decrease in condo sales this month, showing only a 4.77% decrease in the number of settled units between May 2010 and May 2011. The average and media settled prices saw only small decreases as well, 1.20% and 5.90%, respectively. The total settled volume decreased from $139,149,000 in May 2010 to $131,011,000 in May 2011 to post a slight decrease of 5.85%.

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About Coldwell Banker Realty Corp
Coldwell Banker Realty Corp is "First in Service" with all of your Montgomery, Bucks, Chester, Delaware and Philadelphia county real estate needs! Our award-winning relocation department and buyer's and seller's agents are always available to assist you.

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