How Much Has Your Home Risen in Value?

How Much Has Your Home Risen in Value?


 

Hi, I am Christina Swain with The Swain Team. I am sure you are hearing some of the incredible home sale stories out there like: no inspections, $50,000 over asking and so on. Yes, it has been a crazy market. One different from any other, that us seasoned agents that have been in business for many years, has seen. As a homeowner you wonder, “how much has my house value gone up?”. You hear all these statistics on the news pertaining to how much prices have risen. But what is going on in our local market? Today we are going to compare the Median Sold Price in May of 2020 to the Median Sold Price in May 2021 by the county.

The Median Sales Price of a home in Bucks County was $330,000 in May of 2020. It rose to $375,000 in May of 2021 that is an increase of 13.6%!

The Median Sales Price of a home in Montgomery County was $333,750 in May of 2020. It rose to $360,250 in May of 2021 that is an increase of 7.9%.

The Median Sales Price of a home in Philadelphia County was $255,000 in May of 2020. It rose to $280,000 in May of 2021 that is an increase of 9.8%.

The Median Sales Price of a home in Mercer County was $283,000 in May of 2020. It rose to $329,900 in May of 2021 that is an increase of 16.5%.

The Median Sales Price of a home in Burlington County was $250,000 in May of 2020. It rose to $284,750 in May of 2021 that is an increase of 13.9%.

The Median Sales Price of a home in Camden County was $211,500 in May of 2020. It rose to $252,000 in May of 2021 that is an increase of 19%!

We saw quite a few trends emerge because inventory has been so low. For example, Prices in New Jersey were driven up as we saw many Pennsylvania buyers began to buy in New Jersey because they were unable to purchase in Pennsylvania. If you are thinking about buying a home, hire an expert realtor who knows the market. I would be happy to sit down with you and do a needs analysis for you so that we can create a strategy to find you, your dream home.

 Reach out to me at 215-757-7257 for a free 30-minute needs analysis to see what options are available to you, I am happy to help!

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