With Fewer Buyers, Buying a Home in Montco Might Be Easier, But Not Necessarily Cheaper

Image via Tierra Mallorc, Unsplash.

With many of the shoppers who snatched up a house during the spring and summer stampede now out of the picture, buying a home in Montgomery County may have become an easier task—albeit not a cheaper one, writes Kennedy Rose for the Philadelphia Business Journal.

So far this year, first-time homebuyers had to battle those who were willing to waive inspections and appraisal contingencies to secure a sale.

Those who have been patiently waiting to buy a home in Montco now have a chance to buy homes on terms they are comfortable with, explained Ashlee Check, a real estate agent with ​​Berkshire Hathaway HomeServices Fox & Roach.

“It’s a nice break,” she said.

Closed sales in Montgomery County went down 13 percent in September compared to August, and 4.5 percent year-over-year. Properties priced over $900,000 are staying on the market longer.

Showings have also dropped year-over-year to 24,142 in September of this year.

However, home prices have continued to rise. The median sales price went up by 9.7 percent year over year to $370,000.

The most popular places among buyers are Lower Gwynedd, Upper Dublin, Blue Bell, and Abington.

Read more about buying a home in Montgomery County in the Philadelphia Business Journal.