b'2021 UPDATE:Our SuburbanReal Estate Markets Go Into Overdrive At the close of 2020, we wondered if our local residential real estate party would continue? Today, the answer is yes. BUT, consider this: real estate markets tend to rise in 5-7 year cycles, and our current cycle in Philly is now in its ninth year. So, while home sellersparticularly Philadelphia-area suburban sellerscontinue to reap the rewards, the window of opportunity may be closing. Q We all seem to know someone who just listed their house nearby,received multiple offers, all cash, and over listing the first day. A It makes for a catchy story, doesnt it? Has it occurred in the Philadelphia suburban market over the past few months, sure. But, in these cases, homeowners have priced their homes slightly above market conditions and theyre ready to move, figuratively and literally.Q Benchmark where we are now compared to this time last year.A Based on February, 2021 data compared to February, 2020,* the median sales price is up 12%, closed sales are up over 13%, median days on the market is down by almost a month to 14 days and, get this, we have just over a month of inventory. Thats down by almost 50% in a year! Q Is there a pricing sweet spot? A Probably in the $300,000 to $500,000 price point, but with inventory this low, the upper endis a moving target. Continued on next page .8'