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Here are three key trends in the greater Philadelphia real estate market as of June 30th:
1️⃣ New Listings: Inventory is increasing. Nationally, we saw 70,606 new homes listed in 2024 compared to 61,749 in 2023 and 90,741 in 2022. In the greater Philadelphia area, new listings are up by 12.8% from last year.
2️⃣ Pricing: Despite the rise in inventory, prices continue to climb. Sale prices in the greater Philadelphia metro area are up 6.7% from last year. The median listing price is 11.6% higher than last year.
3️⃣ Showings: Showings are down by over 12% compared to the same time last year, indicating a normalization in the market. Sellers should consider pricing their homes realistically to attract serious buyers.
For more insights and to discuss your real estate needs, schedule a call with our team! 📲 calendly.com/t...
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The Tom Toole Sales Group is a top producing, nationally ranked Real Estate team. We are dedicated to providing our customers with the perfect blend of expert experience, market knowledge and a client focused mentality. We are native to the greater Philadelphia area suburbs. From the diverse towns on the Main Line to the Chester County countryside, we know this market.
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