For the month ending January 2011 for Montgomery County Pa properties priced between $200,000 and $300,000 we can see that the market has slowed a little bit. This may be due to the fact that the area has been blanketed by multiple snowstorms and record low temps which may be causing more buyers to wait until the weather becomes warmer.
As compared to December of 2010 there were 164 homes listed vs January where there were 295 homes listed for sale. In December 134 homes went under contract and 183 homes were sold. In January 84 homes went under contract with 125 closing. Over this time period the average days on the market also increased from 89 to 105.
In total at the time of this writing there are currently 1490 homes listed for sale in the 200k-300k price range in Montgomery County Pa. An average of 212 homes are selling per month creating a 7 month inventory in our market.