Hearthside Happenings

April 2019 Market Update


Posted: May 15, 2019 by Joe Carelli

April 2019 Market Update

April has come and went already, hard to believe! April was a busy month with a lot of exciting things going on, warmer weather, NHL playoffs, NBA playoffs, Game of Thrones final season premiered and Avengers: Endgame shattered box office records.

Did the real estate market see an equally exciting month of April as well? Let's take a look at how April 2019 compared to April 2018 to find out. 

WHAT’S HAPPENING NOW:

“April has shown us that trends have remained consistent thus far in comparison to 2017 and 2018. In 2019 so far we've seen that while inventory is still declining the rate of declining is lessening,” stated Jamie Mancuso, CEO of Coldwell Banker Hearthside.

INVENTORY:

Bucks County: 

-11.1% to 2,803        
(2018: 3,152)                           

Lehigh Valley:

-10.5% to 5,338
(2018: 5,963)

Montgomery County:

-2.8% to 8,243
(2018: 8,479)                         

Northeast Philadelphia:

-13.6% to 981
(2018: 1,135)

SOLD PRICING:

April saw most markets moderately up with Northeast Philadelphia being the most noteworthy.

Bucks County:

+2.5% to $304,000
(2018: $296,625)

Lehigh Valley:

+3.9% to $184,900
(2018: $178,000)

Montgomery County:

+5.6% to $389,000
(2018: $369,250) 

Northeast Philadelphia

+11.1% to $200,000 
(2018: $180,000)          

PENDING CONTRACTS: 

“With the exception of Northeast Philadelphia, we are seeing moderate to strong gains in regards to pending contracts. The most notable being Lehigh Valley and Montgomery County, these numbers give us a positive indicator of what to expect in the coming months,” stated Mancuso.


Bucks County: 

+0.7% to 870 from 864           

Lehigh Valley:

+15.9% to 1,266 from 1,092                                                       

Montgomery County:

+13.9% to 2,895 from 2,541

Northeast Philadelphia:

-6.4% to 393 from 420         

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