The Official November Real Estate Statistics are In! Some Trends May Surprise You!
So if you had any doubt that the Philly market is on fire, numbers do not lie. Not only are sales up, total sales volume has consistently been beating the previous year’s totals for almost 2 years straight! According to TREND “November sales were up 6.9% compared to last November and prices continued to greatly exceed 2016 prices and were up 15.5% ($25,500) over last November and are now up 8.8% for the year. This marked the 33nd consecutive month that the median sold price exceeded the previous year.”
As Philadelphia keeps progressing, there seems to be no signs of this trend slowing down. In fact TREND also stated, “Sales exceeded last November by 4.7% and are now up 7.8% Year-To-Date. Sales have cooled a bit after a very strong start to 2017, but are still exceeding last year every month. The median sold price is up just 1.4% this year, below the expectations of most housing market experts however, the median sold price in Pennsylvania is up 4.4% Year-To-Date. Delaware median sold prices are the same as in 2016 while New Jersey has seen a slight decline of 0.6% due primarily to an increase in foreclosure sales.”
Check Out the Charts Below!