The Philadelphia area* real estate market continues to recover, but, as usual, there are peculiar things that still happen in the marketplace.
1. Inventory in higher under $300K ("first-time homebuyers" range) than it is in the $300K-$700K range ("move up buyer" range)
2. Inventory is showing a steady downward trend in all price ranges when compared year-to-year
3. Several PA counties are below 6 months inventory overall
4. Mercer County (NJ) has a very active $300K - $1 mil. market, yet it still has high inventory in the under $300K range
*Information gathered from TREND MLS for the Philadelphia area: Berks, Bucks, Chester, Delaware, Montgomery and Philadelphia counties in PA; and Burlington, Camden, Gloucester and Mercer counties in NJ.