Real Estate Market Update 1Q - 2018

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Real Estate

TREND, in association with the Greater Philadelphia Association of Realtors, has released data from the first quarter of 2018.  Bottom line, the real estate market remains strong in East Falls (19129).  

The median sales price of homes in East Falls in the first quarter of 2018 is $242,000, an increase of 20.7% from first quarter last year. 

Homes in East Falls sold at 96.8% of the original list price, this is a 4.1% increase over first quarter last year.

Yet, total sales in East Falls are down from last year. 

In the first quarter only 28 homes sold in East Falls, a 20% decrease from first quarter last year. This reflects a lack of housing inventory available for sale in the neighborhood. We are seeing this phenomenon in other neighborhoods. Frankly, if more homes were on the market, more homes would have sold. 

If you’re thinking of selling in East Falls, now is the time to get the highest value for your home. Contact me today to get started!