CENTURY21 Advantage Gold Market Report
Norristown, PA
Single-Family Homes
CENTURY 21 Advantage Gold | customercare@c21ag.com | 215-671-4701
Norristown, PA
Sat Nov 23 2024
This week the median list price for Norristown, PA is $535,000 with the market action index hovering around 51. This is about the same as last month's market action index of 51. Inventory has decreased to 37.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Market Narrative
While the Market Action Index shows some strengthening in the last few weeks, prices have not seemed to move from their plateau. Should the upward trend in sales relative to inventory continue, expect prices to resume an upward climb in tandem with the MAI.
Real-Time Market Profile
| Median List Price | $535,000 | |
| Median Price of New Listings | $499,000 | |
| Per Square Foot | $231 | |
| Average Days on Market | 78 | |
| Median Days on Market | 42 | |
| Price Decreased | 57% | |
| Price Increased | 3% | |
| Relisted | 0% | |
| Inventory | 37 | |
| Median Rent | ||
| Market Action | 51 | |
| Strong Seller's Market | ||
The market plateau is seen across the price and value. The price per square foot and median list price have both been reasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves from these levels.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $999,999 | 3,225 | 1 - 2.5 acres | 4 | 3.5 | 0 | 0 | 0 | 63 |
| $584,999 | 2,437 | 0.5 - 1 acre | 4 | 2.5 | 56 | 1 | 0 | 49 |
| $490,000 | 2,440 | 0.25 - 0.5 acre | 4 | 2 | 62 | 1 | 3 | 42 |
| $367,450 | 1,586 | 8,000 - 10,000 sqft | 3 | 1.8 | 70 | 1 | 2 | 28 |