Reflections 1013

REFLECTIONS Published Monthly By Kurfiss Sotheby’s International Realty - September 2013

WHERE IS THE MARKET? “There’s no inventory.” That’s what buyers and realtors throughout the greater Philadelphia region are saying.

Particularly acute in certain price bands, mainly in the mid-market, the decrease in the number of homes on the market is very real, according to September 2013 data from Trend, the multiple-listing service for southeastern Pennsylvania and parts of New Jersey and Delaware. In Bucks County, Pa., inventory of single-family homes for sale decreased 4.7% compared to September 2012; the number of pending sales is up 17.4% from September 2012; the number of sold single-family homes was up 21.7% from a year ago. Prices, though, barely nudged upward.

The story is much the same for Philadelphia, Chester, Delaware and Montgomery counties. In Philadelphia in September 2013, the number of sold homes rose almost 20% from September 2012 levels. In Chester and Montgomery counties, the increase was 15.9% and 15.4%, respectively. Delaware County lagged but still produced a doubledigit gain of 12.4%. In the meantime, new inventory has entered the market, but not at a pace to replace those homes which have been purchased – strengthening home prices in many price bands, though not dramatically.

For a more detailed look at your neighborhood real estate activity, please contact either our Philadelphia office at 215.735.2225 or New Hope office at 215.794.3227. A sales associate will be happy to answer your questions, no obligation, of course. Or email us at sales@kurfiss.com

CLICK HERE View complete data for these counties, including home-price data. Please see the market summary for the first half of 2013 in our current issue of Buy&Sell.

CLICK HERE Watch a video overview of the September 2013 data from Trend.

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SIGNIFICANT SALES FROM KURFISS SIR

415 Lurgan Road - New Hope, PA: - Listed by Linda Danese at $2,950,000 1822 Spruce Street - Philadelphia: Listed by Patricia Royston at $2,295,000 6156 Sawmill Road - Carversville, PA: Listed by Janet Marchione at $2,000,000

220 Lurgan Road - New Hope, PA: Listed by Linda Danese at $1,395,000 96 Woodhill Road - Newtown, PA: Listed by Linda Danese at $1,285,000 1800 Pine Street - Unit 1 – Philadelphia: Listed by Patricia Royston at $995,000

301 Hughes Road - Gulph Mills, PA: Listed by Ravenscroft & Harrington at $995,000 25 Mount Airy Road - Pipersville, PA: Listed by Nancy Bousum at $845,000 The Murano - Unit 1506 - Philadelphia: Listed by Jason Kravitz at $795,000

2224 Rittenhouse Square - Philadelphia: Listed by Melanie Stecura at $795,000 The Murano – Unit 2702 - Philadelphia: Listed by Jason Kravitz at $785,000

This list represents just a fraction of our listings that sold within the past 60 days. For more information about any of these or other transactions, contact our Bucks County office at 215.794.3227 or our Philadelphia office at 215.735.2225.

HISTORIC PROPERTIES WEB SITE LAUNCHES Kurfiss SIR offices in Philadelphia and Bucks County, Pa., are perfectly positioned to take advantage of a new specialty market web site launched in August by the Sotheby’s International Realty brand. HistoricpropertySIR.com provides detailed Historic lifestyle and listing information and resources and enables buyers & sellers to search for the finest properties in this popular segment and the brand’s sales professionals who represent them. It covers a full spectrum of lifestyle types & properties including: landmarks, properties of design and historic significance & properties that are on the National Registry.

WELCOME, NEW AGENTS Bucks County

Philadelphia & Main Line

Betsy Hunt

Juliana Martell

Jonathan Hunt

Faye Sokhanvari

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NEW LISTINGS ON THE MARKET

HARMONY MOUNTAIN, WAVERLY, PA

GATESHEAD FARM, NEW HOPE, PA

Kurfiss.com/6263975

Kurfiss.com/6280150

Offered at $14,950,000

Offered at $8,875,000

THE LOGAN INN, NEW HOPE, PA

CROSSCREEK FARM, NEW HOPE, PA

Kurfiss.com/6281461

Kurfiss.com/6280148

Offered at $6,700,000

Offered at $6,250,000

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NEW LISTINGS ON THE MARKET

UPPER MAKEFIELD ESTATE, NEWTOWN, PA

THE BORIE ESTATE, RYDAL, PA

Kurfiss.com/6290662

Kurfiss.com/6254174

Offered at $2,695,000

Offered at $2,500,000

THE WHEATON MANSION, MILLVILLE, NJ

FITLER SQUARE, PHILADELPHIA, PA

Kurfiss.com/6279520

Kurfiss.com/6272577

Offered at $2,488,000

Offered at $2,350,000

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BUCKS COUNTY OFFICE 6038 Lower York Road, New Hope, Pennsylvania 18938 Office: 215.794.3227

PHILADELPHIA/MAIN LINE OFFICE 226 W. Rittenhouse Square, Suite 102, Philadelphia, Pennsylvania 19103 Office: 215.735.2225

VIEW DISTINCTIVE PROPERTIES IN EVERY PRICE RANGE AT KURFISS.COM