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First Quarter Results for Home Sales in Montgomeryville-Lansdale

Lisa Loper, member of the Scott Loper Team at RE/MAX Realty Group in Harleysville, reviews the first quarter data for real estate sales in the North Penn area.

The first quarter of 2011 finished up last week, and the results for home sales in Lansdale-Montgomeryville area are in. 

Using the North Penn School District as a gauge, there currently are 564 active listings. From January through March, 109 listings were taken off the market, 159 went under contract, and 156 sold and settled.

Of the 156 listings that sold in North Penn, the average list price was $284,475, but the average sold price was $262,539.  These homes took on average 92 days to sell.

How does this compare to last quarter (October through December 2010)? Well, 213 listings sold, with an average list price of $294,610 and sold price of $275,925.  The average time on the market then was 76 days.

North Penn School District Q1 2011 Versus Q4 2010

Time Period

New Listings

Listings Under Contract

Listings Sold

Average List Price

Average Sold Price

Average Days on Market

Q1 2011

383

159

156

$284,475

$262,539

92

Q4 2010

248

193

213

$294,610

$275,925

76

 

The large inventory of available homes, short sales, and foreclosures continue to pressure prices throughout our area and provide some of the best buying opportunities that prospective homeowners have seen in nearly a decade.

How does the Lansdale-Montgomeryville area compare to Montgomery County as a whole?  In the first quarter of this year, 1,139 homes sold throughout the county (this includes the 156 sales in the North Penn School District).  The average list price was $329,852 and the sold price was $293,474 with an average time on market of 109 days.

North Penn School District Versus Montgomery County for Q1 2011

Q1 2011

New Listings

Listings Under Contract

Listings Sold

Average List Price

Average Sold Price

Average Days on Market

North Penn

383

193

156

$284,475

$262,539

92

Montgomery County

3,431

1,450

1,139

$329,852

$293,474

109

 

What about the homes that haven’t sold?  In Montgomery County, the average list price of all homes currently on the market is $368,265 while that same number for just North Penn is at $289,864.  The highest priced home currently for sale in Montgomery County is $3.65 million, whereas the highest priced home currently for sale in North Penn is $649,900. 

On the flip side, the least expensive home sold in Q1 2011 in North Penn was $53,000, while the least expensive home in Montgomery County was $18,000.

For more information on this topic and how it affects buyers and sellers in the Lansdale-Montgomeryville area, contact Lisa Loper at 215-256-1200, ext. 212, or visit www.scottloperteam.com.

Maggie Carroll April 08, 2011 at 02:00 AM
Nice Article Lisa. Informative and well written. The comparison to last quarter is interesting . . . is there any value in comparing Q1 2011 to Q1 2010?
Lisa Loper April 08, 2011 at 02:19 PM
Thank you Maggie. Yes, there is always value in comparing Q1 of one year with Q1 of a different year because there are predictable seasonal differences in the real estate market. I did look at Q1 2010 but 1) It was surprisingly similar to Q4 2010 and 2) It was during the period that the home buyer tax credit was in effect which would skew the data compared to any other time. I decided to work with where we are right now as a market. Lisa

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