Lower Merion Township Real Estate Market - View Lower Merion Township Real Estate Market Trends in Pennsylvania

Spring 2012 Market Update If you can qualify, now is an exceptional time to buy a home in Lower Merion Township. Low rates with falling home prices makes a home purchase a great value! Call now for more information at 610-247-3474
Average Home Price	$550,000 - View Graph Trend

Average Price Compared to Last Year	Up 5-10%

Average Time on Market	60-90 days

Best Selling Price Range	$500,000 - $549,000

Worst Selling Price Range	$1,000,000+

Prices As % of Asking Price	90-95%

Existing Home Prices for the past 90 days are?	Increasing

Market Trend	Decreasing

Buyers’ or Sellers’ Market	More buyers than sellers

Buyer Activity for the past 90 days in Lower Merion Township is	Increasing

Seller Activity for the past 90 days in Lower Merion Township is?	Decreasing

Multiple Offers?	Yes

Multiple Offers Commentary	Sellers are receiving multiple offers when the price of the home is at or below the Buyers perceived market value. Although there are fewer multiple offers than prior to 2008, this situation occurs mostly after multiple price reductions.

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales?	5-10%

Is Financing Available For Qualified Buyers?	Yes

Comments on Financing For Qualified Buyers	Mortgage rates are still at an all time low but have increased in the last 10 days.

Housing Inventory	Good supply - Some Prices

Greatest Activity	Repeat Buyers

Reason to Buy/Sell	Excellent schools, values that maintain themselves, lower property taxes.

Nearest Metro Area	Philadelphia

Housing Hot Spots	Radnor and Tredyffrin Townships are considered ’Housing Hotspots also.

Average Sold Price	$550,000 - View Graph Trend

Lower Merion Township Local News

News for Lower Merion Township, PA - April 20th, 2011 2:00pm
Check out lower merion township home stats

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Janis Nadler

610-247-3474

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Mortgage Rates

– May 28th, 2012 –
---------------------------------

30 yr. fixed rate: 3.82%
15 yr. fixed rate: 3.11%
30 yr. jumbo rate: 4.38%
15 yr. jumbo rate: 3.61%

Home Values

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Agent quarterly survey shows growing optimism toward a housing market recovery

End of tunnel, meet light. Real estate agents have been imagining that vision for a while, and first-quarter optimism in 2012 has some saying the road to recovery could be just around the corner.

Much of the upbeat attitude from HouseHunt's market condition survey stems from tighter inventory and houses not remaining as long on the market. Of agents reporting, 38 percent said inventory was tight in their cities, compared to 32 percent in the fourth quarter of 2011 and 13 percent at the beginning of last year. Regarding time on the market, 30 percent reported houses selling in 60 days or less, compared to 22 percent in the previous quarter and 10 percent at the beginning of 2011.

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Lower Merion Township Real Estate Market Trends – Pennsylvania

Lower Merion Township Real Estate Market Conditions and Trends