March 2024 Market Update - Tom's Take 372

📸 Here's a snapshot: Recent data reveals a 4.7% increase in new purchase contracts, alongside a 3.3% rise in listings. Median prices are up by 11.4%, with inventory also growing by 4%. This means more options for buyers, though showings have dipped by 20.8%. 📉 Nationally, single-family home inventory is steadily increasing, providing a boon for both buyers and sellers. In terms of year-over-year comparison, the Philly area is outperforming the national average, boasting a 7.9% increase in prices compared to the national 4.6%. 🏡 🔍 Looking ahead, there's a predicted 1.6% price growth by next year. For sellers, it's an opportune time to capitalize on high prices and growing inventory. 💰 Buyers can benefit from a stable market and potential for long-term investment. 👏 Considering alternatives and seeking expert advice is key for navigating these shifting dynamics. Questions? Reach out for personalized guidance! 📲 https://calendly.com/tomtoole