Housing Market Report for Existing Homes -- Dec 2008

5-County Southeastern Pennsylvania Area

Tuesday, Jan 27, 2009  |  Updated 2:30 AM EDT
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Housing Market Report for Existing Homes -- Dec 2008

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Beautiful spacious six-bedroom home, centrally located in a quiet Cheshire community. In today's buyer's market, you would think a home like that would have no trouble drawing attention. At least that's what owner Marty Tyrrel thought.

Housing Market Report for Existing Homes- December 2008
5-County Southeastern Pennsylvania area
Source:  Prudential Fox & Roach HomExpert Market Report
 
The five-county Southeastern Pennsylvania area saw:

Median Sale Price
DOWN 5.7% from Dec ’08 to Dec ’07

  • $207,500 in December 2008
  • $220,000 in December 2007
  • $212,000 in November 2008
  • $220,000 in December 2006

Homes Sold
DOWN 22.5% from Dec ’08 to Dec ’07
  • 2,279 in December 2008
  • 2,929 in December 2007
  • 3,702 in December 2006
  • 2,222 in November 2008

Days on Market
UP 14.7% from Dec ’08 to Dec ’07
  • Average 80 days in December 2008
  • Average 70 days in December 2007
  • Average 63 days in December 2006
  • Average 76 days in November 2008

Inventory of Homes for Sales
DOWN 4.1% from Dec ’08 to Dec ’07
  • 30,699 in December 2008
  • 32,654 in December 2007
  • 32,006 in December 2006

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