Fewer properties are on the market around Philadelphia, but they’re selling fast

The number of houses on the market in and around Philadelphia is down, but the houses are generally selling quickly and at close to asking price, according to the latest report from Long & Foster Real Estate.

The June report shows active listings down 25 percent in Delaware County and 24 percent in Philadelphia. Bucks County experienced an 18 percent decline; Chester County was down 15 percent, and Montgomery County was down 12 percent.

Likewise, the number of homes sold in the area last month declined. Sales volume was down 7 percent in Philadelphia, 6 percent in Bucks, 3 percent down in Delaware and Montgomery Counties, and 1 percent in Chester County.

But there's good news for sellers. In all five counties, sellers got 98 percent or more of their listing price. And homes are selling quickly — under 45 days everywhere.  Montgomery County homes sold the fastest, in an average of 37 days, followed by Philly homes in 38 days, Chester County in 42 days, Delaware County in 43 days, and Bucks County homes in 44 days.

The report breaks down data for the city and its surrounding suburban counties.