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REAL ESTATE STATISTICS – MARKET UPDATE

REAL ESTATE STATISTICS – MARKET UPDATE

If you are considering Buying or Selling Homes in the Philadelphia metropolitan area you can access the statistics that are accumulated by the local Multiple Listing Service … Bright MLS.

Key Highlights 2023 4th Quarter

Purchase Prices are UP in most counties by 3% to 7% from 12 months ago.

The number of homes for sale are DOWN BY 30% to 40% from 12 months ago.

Mortgage Interest Rates are UP BY almost 3 % from 12 months ago.

The practical cost of homes with a mortgage is up by about 30% from 2021. This is because of the historically low interest rates of 2021. However, interest rates are at the historical 30 year average of 7+%

IMPORTANT NOTE: THE MARKET HAS CONTINUED TO BE A STRONG SELLER’S MARKET AND THE INVENTORY OF HOMES FOR SALE IS EXTREMELY LOW

You can access the data for the last quarter by clicking the links below …

Quarterly Data by County and Zip – Select the County Below

BUCKS

CHESTER

DELAWARE

MONTGOMERY

NEW CASTLE