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Our Market Isn’t Slowing Down

Tuesday, February 1, 2022   /   by John Salkowski

Our Market Isn’t Slowing Down



The data explains why our market won’t be slowing down anytime soon..

Over the past few weeks, I’ve been getting asked if the market will slow. I don't believe the market is slowing down anytime soon, and I don’t think it will crash like it did in 2006. Back then, they were literally giving out mortgages without documentation to prove you could afford the house. 


The numbers show that our market is still strong. Here is data from Montgomery, Delaware, and Chester counties that compare December 2020 to December 2021:


Montgomery County

Closed Sales: 1,142 (2020); 1,044 (2021)

Average Price: $396,000 (2020); $431,000 (2021)


Chester County

Closed Sales: 745 (2020); 679 (2021)

Average Price: $457,000 (2020); $502,000 (2021)


Delaware County

Closed Sales: 763 (2020); 723 (2021)

Average Price: $324,000 (2020); $345,000 (2021)


As you can see, our market is only going up, and it's going to hold stable for many years to come. If you’re looking to buy or sell, I wouldn’t wait for spring because there will be more competition on the market.


If you have any questions, don’t hesitate to reach out to me and my team by phone or email. There is never any cost or obligation. We look forward to hearing from you.

 

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The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which {companyName} participates, and is provided by BRIGHT through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have Closed or are no longer being offered for sale. © 2022 BRIGHT, All Rights Reserved Information Deemed Reliable But Not Guaranteed. Data last updated: May 18, 2022 5 AM.
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