Five housing markets in Delaware County are among the hottest in Greater Philadelphia according to the Market Hotness Index published by Realtor.com, writes Clara Lefton for the Philadelphia Business Journal.
The index measures “how local areas are experiencing fast-moving supply and rising demand.” Since the index is based on factors such as inventory and time on the market, and not price, most of the hottest markets represented are middle class.
Based on data for the fourth quarter of last year, the Philadelphia-Camden-Wilmington market is considered “slightly hot.” However, it’s only 46th among other metropolitan areas in the nation.
There is improvement in sight though, as the market is currently heating up, according to Realtor.com. Properties in the Philadelphia area also “receive an average number of views 1.7 times higher than the U.S. average.”
In Delaware County, Springfield ranked eighth among the Philadelphia area’s hottest markets and 445th nationwide.
Broomall placed 10th in the region, while Brookhaven ranked 20th.
Ridley Park, at No. 22, and Havertown, at No. 25, were also among Greater Philadelphia’s hottest housing markets.
Read more in the Philadelphia Business Journal by clicking here.