Video: Real Estate Community Tour for Norristown, PA
See Real estate community tour for Norristown, PA
Welcome to August's Market Update. Let’s take a look at residential real-estate activity in your area during the month of July. The number of active listings was down 28% from one year earlier, and down 2% 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 just under 140-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 14%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was just over 170-thousand dollars. The number of units sold increased 14% year-over-year, and decreased 11% month-over-month. Higher year-over-year figures indicate that more buyers have been finding what they're looking for. 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.