A. Bradley Nelson
Chief Marketing Officer Sotheby's International Realty
Shaggy Bark Farm Bucks County $3,995,000 Nestled into the magnificent country of bucolic Bucks County, sits Shaggy Bark Farm, one of the most spectacular Farmhouse/Barn-like renovations you will ever see. This eight year renovation is a true masterpiece.
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Home Demand Sales prices continue to rise despite typical seasonal slowdown. The median sales price in the Philadelphia Metro was up 9% compared to a year ago, for a new December record. Since October, demand for Philadelphia Metro area homes has fallen by 38 percent as home shopping activity subsided at year-end. The decline was comparable to the decrease one year earlier. Although a significant portion of the decline can be attributed to the seasonal slowdown in demand, rising home prices have also reduced affordability for many would-be buyers and low inventory levels have narrowed buyers’ search options. Since July, the Index has been below the level one year earlier, suggesting that demand in 2022 will start off somewhat lower than last year.**
*Bright MLS January 2022 **Bright MLS | T3 Home Demand Index January 2022 | Robb Report | The Philadelphia Inquirer
The past year has been unprecedented on many fronts, including unexpected shifts in housing demand. Here in Philadelphia, the luxury market was active in the suburbs and tempid in the city. This year, garages, walk-in closets, and full baths replaced hardwood floors, granite countertops, and stainless-steel appliances as the three most popular features in home listings, one study says in The Philadelphia Inquirer. Mirroring universal trends explored in this report. While the value of what defines a “luxury” property can vary widely around the world , the most expensive home sold in the US last year was a $200 million 340,000-acre ranch in Montana near Yellowstone National Park (Robb Report), in Philadelphia the benchmark price is generally accepted to be $2,000,000 or more. Current Inventory of luxury homes above $2,000,000 in the Philadelphia Metro area is 167 properties.* We invite you to explore them all at bielloandblack.com
A view from Philadelphia
FEATURED PROPERTY IMAGE PHOTO by OM Media
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Caryn Black President and Founder caryn@bielloandblack.com 267-614-6484
Meet The Biello & Black Group
Stephanie Biello CEO and Founder stephanie@bielloandblack.com 267-322-9814
Brooke Black Marketing & Contract Manager brooke@bielloandblack.com 267-893-0625