Montgomery County Home Sales Hit 7-Year High in 2015 - NBC 10 Philadelphia

Montgomery County Home Sales Hit 7-Year High in 2015

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    Montgomery County Home Sales Hit 7-Year High in 2015
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    More than 10,000 homes were sold in Montgomery County last year, the highest calendar year total in seven years, county officials said this week.

    The median sales price for the 10,489 homes sold "showed only a modest growth," up $450 from 2014 to $270,350, but the increase was the fourth since the Great Recession of 2008. 

    The median price for new construction housing stock was $392,833 -- an increase of 0.9 percent.

    The median price for single-family detached homes in the county increased to $450,356, an increase of just 0.7 percent. They were outpaced by single-family attached homes -- condominiums and town homes -- which rose 9 percent to $350,708.

    "New town home projects are being built at increasingly higher price points as the market draws potential buyers who cannot afford new single-family detached housing," the county said in a release.

    To see the full report, which includes town-by-town breakdowns, click here.