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Real Estate is STILL a Great Investment

November 27, 2007

There has been a great deal of negative talk about the real estate market these days.  Sure, it is softer than it was two years ago, but what we are currently seeing — at least in the Delaware Valley — is merely a normalization of the market.  This is no burst bubble.  Real estate continues to be one of the safest investments the average person can afford.  In fact, the NAR projects that 2007 is going to be the fourth best year in the history of real estate.

 Here are just a few facts, from our local MLS: 

The average sale price in Chester county is $382,000, compared to $373,900 a year ago.  The average length of time on market is 67 days this fall.  Last November, it was 54.  There have been 12,347 houses listed in the last 12 months, whereas there were 13,412 listed in the previous 12 months.  So while houses are staying on the market longer, they are still appreciating, tho at a slightly smaller rate than in recent years.

Next time, I’ll talk about why NOW is a great time to buy!

Patty

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