Local Market Update-Blue Bell, Lower Gwynedd, Ambler
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A shortage of inventory is affecting our real market.
Inventory levels are 16.8% below April, 2016 levels.
Local Home Market Report - May, 2017
The local market in Blue Bell, Lower Gwynedd and Ambler remains at a low of 3 months of inventory, an average sold price which increased to $464,000 with homes on market an average of 55 days before receiving a contract and a nice high list to sold price ratio of 94.4% over a one year period as of May, 2017.
The overall Montgomery County market remained at 3 months of inventory, an average sold price of $324,000 with days on market of 59 days and a list to sold price ratio of 95.1% over a one year period as of May, 2017.
6 months of inventory is called a "normal market"*
A 6 month supply of homes means that if no other homes came on the market and homes continued to sell at the same rate, we would deplete all of the inventory within 6 months.
Luxury Home Market Report- May, 2017
There is an increased 20 months of inventory of homes over $1,000,000 in Montgomery County. The average high end home is on the market 103 days with a list to sales price ratio declining to 89.2% as of April.
The peak pending period for luxury home sales in 2016 was April.