A new year has begun, which means it’s time to take a few minutes to review the one that’s just ended. Fortunately, 2015 was a good year for real estate, and 2016 is expected to be even better. From increased sales, short turnaround times, and increasing home values, there’s never been a better time to buy, sell, or own a home.
Comparison of Units Sold
The Malvern-area market continues to be robust, with the number of sales greatly increasing from 2014 to 2015 in both Willistown and Charlestown. East Whitehead sales held steady while Malvern dropped a bit, due mostly, I believe, to the shortage of available properties in the area. Based on the number of sales in the surrounding areas, and the increase of new construction in the area, I predict that sales will continue to increase in 2016.
Comparison of Median Sales Price
The median sales price of homes sold in the Malvern area actually dropped from 2014 to 2015, but this doesn’t mean the property values declined. The price point of those selling in 2015 just happened to be lower. Price rates in 2016 are expected to rise as the year progresses, making right now the optimal time to look into your buying options, rather than waiting until prices have increased.
Comparison of Days on Market
The number of days the average home sits on the market has held consistent from 2014 to 2015, even in an environment of lessened inventory. I expect the market to remain brisk in 2016, with homes selling often within thirty days of going on the market.
Now Is the Time!
Malvern is a great place to live, any time of the year! (Don’t believe me? I’m a Malvern native!) And the market has never been better for buyers. Prices are expected to rise, which means now is the time to buy.
Call Malvern Home Today
If you’re looking for a home in the Malvern area, I am your go-to real estate expert. I can help you learn more about the area, see available listings, or answer all your home-buying questions. Contact me today to get started!