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Posted on June 22, 2016 at 4:50 PM by Michael Stokes
The housing market in Montgomery County is very strong as evidenced by numbers found in two recent reports prepared by our office. The 2015 Median Prices for Housing publication indicates that the value of housing outpaced inflation over the past year. The number of houses sold increased substantially in 2015 as well, indicating that there are plenty of home buyers wanting to live in Montgomery County. On the supply side, the 2015 Housing Units Built report shows that last year was the third straight year that the number of new housing units built increased. The 1,838 total units built in 2015 was the highest number of units built since 2008. Many of these units were built in developments that had started just prior to or during the recession that began in 2007. But several units, particularly apartments, are in projects that have begun more recently. Apartment units continue to be a hot housing choice in more developed portions of the county including Plymouth Meeting, Conshohocken, Lower Merion, Upper Merion and the US Route 422 Corridor. Multifamily housing units, primarily apartments, will continue to be the most popular housing choice as many more multifamily apartments are expected to be completed this year and into next year. Though single family detached units constructed have declined from the numbers produced over a decade ago, new single family detached housing in the right location sells well and is still being proposed in many locations. Likewise, different forms of attached housing, townhouses and carriage homes, provide attractive housing at more affordable prices in vibrant areas of the county.
As housing continues to grow in value, home builders will continue to provide new housing choices. Much of the robust nature of the housing market can be attributable to the quality of life provided in throughout the county that attracts new home buyers. This attractive quality of life results from good transportation access to jobs and shopping, proximity of desired community assets such as parks and trails, great schools, responsible government and perhaps good planning among other things.
New Townhouses in Cheltenham on the old Cedarbrook Golf Club
The Indigo apartment project in King of Prussia promises an interesting housing choice
New apartments in Limerick are now being leased
A new Toll Brothers community under construction in Upper Providence Township
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