Media Market Report

Media, PA Real Estate Market Report

Welcome to your in-depth look at the Media, Pennsylvania real estate market. Often referred to as “Everybody’s Hometown,” Media is celebrated for its walkable downtown, strong sense of community, and excellent quality of life.

Our Media Real Estate Market Report is designed to provide you with crucial insights into this unique market. Whether you’re a first-time homebuyer, a current resident looking to sell, or an investor eyeing opportunities in Delaware County, our comprehensive analysis will help you make informed decisions.

This report covers key aspects of Media’s real estate market, including:

  • Current home values and price trends
  • Available inventory and supply dynamics
  • Average time properties spend on the market
  • Comparative data showcasing year-over-year changes
  • Specific trends in Media’s diverse neighborhoods

As we explore the numbers and trends shaping Media’s real estate scene, you’ll gain valuable knowledge to guide your property decisions. Get ready to dive into the market dynamics of this charming and community-oriented borough!

Media July 2024 Market Report

The July 2024 real estate market in Media has continued to show stable activity, offering insights for both buyers and sellers. Understanding the latest trends and how the market compares to last year can help you make informed decisions about your next move.

Market Overview

In July 2024, 17 homes were sold in Media, representing a healthy level of activity in the area. The median sale price was $630,000, indicating a strong and stable market. The average sale price of homes was $621,347, showing that demand remains consistent.

What This Means for You

For buyers, the market offers a variety of homes, with competitive prices that remain stable. For sellers, the continued demand means your property is likely to attract interest, making it a good time to list and sell your home.

Days on Market

Homes in Media took an average of 22 days to sell in July 2024, which is longer than some neighboring areas, but still indicates a healthy market pace. While homes are on the market slightly longer, this can offer more opportunities for buyers to thoroughly evaluate their options.

How This Impacts Your Strategy

If you’re looking to buy, the longer days on market may give you a bit more time to make an informed decision compared to faster-moving markets. For sellers, it’s still important to price your home competitively and present it well, as well-prepared homes are still moving within a reasonable timeframe.

Price Ranges and Variety

Media offers homes across a wide range of price points. In July 2024, the most affordable property sold for $375,000, while the highest-priced home reached $895,000. This diverse price range highlights that Media can accommodate buyers with varying budgets and preferences.

Key Takeaway for Buyers and Sellers

For buyers, this wide range means there are options whether you’re seeking a more affordable home or a higher-end property. For sellers, the market shows demand across different price ranges, meaning you have a strong chance of attracting the right buyer regardless of your home’s price point.

Aspectos destacados de la propiedad

The homes sold in July ranged from 2 to 5 bedrooms, making Media a versatile market for different family sizes. Living spaces ranged from 1,310 square feet a 4,740 square feet, catering to both buyers looking for cozy spaces and those who prefer more room. Many homes featured desirable amenities such as updated kitchens, finished basements, and beautiful outdoor areas, adding to their appeal.

What This Means for Buyers

If you’re buying a home in Media, it’s worth considering the features that will enhance your lifestyle, such as outdoor spaces or modern amenities. For sellers, emphasizing these desirable features can help your property stand out and attract competitive offers.

Sales Performance

Sellers in Media saw positive returns in July, with homes selling for an average of 102.44% of their list price. This indicates that well-priced homes are often receiving offers above the asking price, a sign of continued buyer interest.

Actionable Insight

For buyers, this means that to secure the right home, you may need to offer slightly above the asking price, especially in competitive situations. For sellers, pricing your home accurately from the start can lead to strong offers and a successful sale.

Year-Over-Year Comparison

Let’s take a look at how the Media market has changed from July 2023 to July 2024:

  • Number of Homes Sold:
    • July 2023: 15 homes
    • July 2024: 17 homes
    • A 13.3% increase in sales volume, signaling more activity in the market.
  • Average Sale Price:
    • July 2023: $628,272
    • July 2024: $621,347
    • A slight 1.1% decrease in average sale price, showing a small market adjustment.
  • Median Sale Price:
    • July 2023: $640,000
    • July 2024: $630,000
    • A 1.6% decrease in the median price suggests a slight correction in the market.
  • Days on Market:
    • July 2023: 10 days
    • July 2024: 22 days
    • Homes are taking longer to sell this year, but the pace remains healthy.
  • List Price to Sale Price Ratio:
    • July 2023: 102.31%
    • July 2024: 102.44%
    • A slight increase in competitive bidding, showing steady interest from buyers.
  • Price Range:
    • July 2023: $390,000 to $895,000
    • July 2024: $375,000 to $895,000
    • A slight decrease in the lower end of the market, while the upper range remains unchanged.

How These Changes Affect You

If you’re selling, the slight adjustments in price and days on market indicate a more balanced environment, though demand remains strong. For buyers, the extended days on market can provide more flexibility when evaluating options, but competitive bidding still exists, especially for well-priced properties.

Final Thoughts

Whether you’re considering buying or selling in Media, now is still a great time to enter the market. With stable prices, a slight increase in inventory, and consistent demand, the market offers opportunities for both buyers and sellers.

Staying informed about these trends can help you make strategic decisions and take advantage of current conditions in the Media real estate market.