Video: Real Estate Community Tour for Norristown, PA
See Real estate community tour for Norristown, PA
Welcome to June's Market Update. Let’s take a look at residential real-estate activity in your area during the month of May. The number of active listings was down 30% from one year earlier, and down 7% from the previous month. This smaller inventory means that buyers who waited to buy may have had a smaller selection to choose from. As you can see, the median listing price for the month was 150-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 27%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was just under 170-thousand dollars. The number of units sold decreased 39% year-over-year, and decreased 23% month-over-month. Fewer sales could indicate an opportunity for buyers to negotiate better terms. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.