Main Line Homes Blog

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Philadelphia Main Line Luxury Market Report

Luxury update link

We just released our most recent 

 

Philadelphia Area Luxury Property Report

 

Click the link above for the full report, but here are some highlights. Active inventory is down 2% compared to last year which is good for this part of the market which has been suffering from a glut of listings. Probably the only part of the market which has been rich in listings for a while.

This being said however, new listings are down by about 6% compared to last year, showing owners have some wariness about listing their properties because of the high number of listings currently on the market.

Sales of these luxury properties are up just over 9% again a good point for this part of the market to lose the glut of listings that have been on the market.

Median sale price has risen by just over 4% to $965,000 compared to last year. This is again an indication that buyers are willing to make decisions and the number of homes on the market is falling.

Long & Foster Real Estate is the only local Philadelphia Main Line Broker associated with Christie's Real Estate, which gives us an added avenue to promote luxury listings around the world to high net worth individuals looking for that rare and interesting property.

If you are interested in discussing the opportunity to market your Luxury property, or to purchase a Main Line luxury property contact Nick Vandekar, Christie's Main Line Luxury Listing Specialist, Nick@VandekarTeam.com, office 610-225-7400, cell 610-203-4543. When listing a luxury property it does matter who you list with and the tools they have available to market your property correctly.

If you are buying or selling on or around Tredyffrin Easttown or along the Main Line we can help you,  contact us or connect

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Comment balloon 8 commentsNick & Trudy Vandekar, 610-203-4543 • April 21 2017 06:00PM

Comments

Good Morning Nick and Tudy -  You have given a very good and comprehensive market report.  It does make a difference with the luxury market but price increases indicate you have a healthy market.

Posted by Grant Schneider, Your Coach Helping You Create Successful Outcomes (Performance Development Strategies) over 1 year ago

Good morning Nick and Trudy.  Buyers and sellers of Philadelphia luxury real estate will find your information and expertise invaluable.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) over 1 year ago

Good morning Nick and Cindy. Sounds as if  buyers and sellers alike need professional assistance to navigate the current market. Enjoy your day!

Posted by Wayne Martin, Real Estate Broker - Retired (Wayne M Martin) over 1 year ago

Nick & Trudy, always nice to know what the luxury market is doing in different parts of the Country.   

Posted by Joan Cox, Denver Real Estate - Selling One Home at a Time (Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373) over 1 year ago

Grant Schneider luxury is what the Main Line is all about

Gabe Sanders with the tax advantages given by Philadelphia there are plenty of luxury homes within the city limits as well as in the suburbs

Wayne Martin very true luxury buyers and sellers have had a hard time for the last few years as the market has suffered a major glut of homes in this area.

Joan Cox in and around Washington it did not seem to slow down, up here we really saw sales drop off for a while, but that seems to be picking up again.

Posted by Nick & Trudy Vandekar, 610-203-4543, Tredyffrin Easttown Realtors, Philly Main Line (Long & Foster Real Estate Inc 610-225-7400) over 1 year ago

Nick and Trudy

The Philadelphia Main Line is a great location to call home.

Good luck and success.

Lou Ludwig

Posted by Lou Ludwig, Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC (Ludwig & Associates) over 1 year ago

Lou Ludwig you are right with your commentary, The Main Line is a wonderful place to call home with all the amenities anyone would want.

Posted by Nick & Trudy Vandekar, 610-203-4543, Tredyffrin Easttown Realtors, Philly Main Line (Long & Foster Real Estate Inc 610-225-7400) over 1 year ago

Excellent report of market conditions. Your analysis will help your buyers and sellers make more informed pricing decisions.

Posted by Dave Halpern, Louisville Short Sale Expert (Keller Williams Realty Louisville East (502) 664-7827) about 1 year ago

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