ALL REAL ESTATE IS LOCAL!

ALL REAL ESTATE IS LOCAL!

Despite what you're hearing about "Real Estate" and the "Housing Market", one market is drastically different from another. People often speak in national terms, or talk about struggling real estate spots, opposed to focusing locally. Another thing you usually don't hear (but is very true) is that every Real Estate market,whether depreciating, appreciating or staying steady, is good for SOMEBODY, whether its sellers, buyers, investors, first time home buyers, upgraders, downgraders, people selling & moving to another area, etc. Each market is usually good for more than one segment.

Here are some statistics to explain the current situation in Montgomery County, PA (source: Trend MLS):

2006:

Average Sale Price: $336,793

Units Sold (Residential, Multi Family, Commercial, Lots): 11,453

Average Days on Market: 54

2007:

Average Sale Price: $337,782

Units Sold (Residential, Multi Family, Commercial, Lots): 10,351

Average Days on Market: 65

% Changes - 2006 vs. 2007

Average Sale Price: Increase of less than 1/2 percent

Units Sold: down about 10%

Average Days on Market: Increase of less than 20%

To discuss your local market, or your real estate needs and/or questions, contact me. I'm glad to help.

Jordan Mariano, ABR

Weichert Realtors

jmariano@weichert.com

www.jordanmariano.com

Direct: 215.896.0104

215.643.7776 x182