Real Estate Market Report - Huntingdon Valley, PA (Nov, 2023)

The median sale/list price for homes is expected to increase from $625,000 in November 2022 to a peak of $647,500 in June 2023, before stabilizing around $599,900 towards the end of the year. Meanwhile, the median sale/list price for condos is expected to fluctuate between $460,000 and $670,000 during the same time period.

The median sale price per square foot varies greatly over the course of the year, with a low of $198.923 in December 2022 and a high of $251.558 in June 2023. There is a general upward trend in the data, with prices steadily increasing from February to June and then leveling off in the latter half of the year.

The data shows the median sale price to list price ratio for each month from November 2022 to October 2023. In January and July 2023, the ratio was at 1.0, indicating that the median sale price was equal to the list price. In February 2023, the ratio was at its lowest, at 0.969, while the highest ratio was in October 2023 at 1.0, indicating a strong seller's market. Overall, the ratio remained relatively stable throughout the year, with only slight fluctuations.

The first set of data shows that there was a steady increase in the number of properties sold/listed from November 2022 to May 2023, with a peak of 26 in June and July 2023, followed by a slight decrease in August, September, and October 2023. The second set of data shows a fluctuation in the number of properties listed/sold each month, with a peak of 27 in July 2023, but a decrease in October 2023 compared to the previous month.

The median days on market for the analyzed period varied greatly, with a low of 6 days in October 2023 and a high of 31 days in March of the same year. The data also shows a tendency towards shorter periods on market during the summer months (July and August) and longer periods during the winter months (December, January, February).