Media, Pennsylvania, continues to demonstrate resilience and steady growth in its real estate sector. As the county seat of Delaware County, Media remains a focal point for homebuyers seeking a balanced market with appreciating property values. Join Tim Reeder from Coldwell Banker Media as he provides a detailed analysis of the current trends shaping Media’s housing landscape.
📹 Watch the Market Update
📊 October 2024 Market Statistics
- Homes Sold: 13
- Average Sale Price: $632,840 (↑ 1.5% year-over-year)
- Median Sale Price: $560,000
- Average Days on Market: 29
- Price Range: $305,000 – $1,225,000
- Average Price per Sq. Ft.: $291.79 (↑ 2.3% year-over-year)
Year-Over-Year Market Performance Analysis
The slight uptick in both average sale price and price per square foot indicates a healthy appreciation in property values. The median sale price of $560,000 reflects a balanced market catering to a diverse range of buyers.
Growth in the Luxury Segment
Properties at the higher end of the market, particularly those exceeding $1 million, have shown increased activity. This growth suggests a rising demand for luxury homes in Media, attracting buyers seeking upscale amenities and prime locations.
Trends in Home Sizes and Values
The market encompasses a broad spectrum of home sizes, with smaller properties appealing to first-time buyers and larger homes attracting growing families and luxury seekers. The appreciation in price per square foot underscores the value placed on well-maintained and strategically located properties.
Market Opportunities Across All Price Points
- For Buyers: With homes spending an average of 29 days on the market, buyers have a reasonable timeframe to make informed decisions. However, the steady appreciation suggests that acting sooner may be advantageous to capitalize on current pricing.
- For Sellers: The upward trends in sale prices and price per square foot present a favorable environment for sellers. Properly priced and well-presented homes are likely to attract serious buyers within a relatively short timeframe.
Media’s real estate market continues to offer robust opportunities for both buyers and sellers. Staying informed about market dynamics is crucial for making strategic decisions.