New ‘stacked townhouse’ homes were built on Cannon Avenue in Lansdale as part of the ‘Cannon Square’ development, seen here for sale in 2012. (MediaNews Group file photo)
Needless to say, the national housing market is wild right now. Buyers are facing historically high home prices, rising interest rates, and some of the smallest living spaces ever seen at these costs. The ripple effects of COVID-era inflation continue to impact everything — from mortgage rates to inventory levels.
As of today, interest rates have more than doubled since the pandemic began. At the same time, home prices have soared. Across the U.S., 65.6% of households own their home — and about 40% of those owners have no mortgage at all.
With many sitting comfortably on low rates and equity, fewer homeowners are willing to list. “Why sell,” they ask, “when I’d be trading down for more money?”
But others recognize the opportunity. It’s still a seller’s market locally, and for some, that means cashing out while the demand is high and supply is low.
But what about the buyers?
I’ve lost count of how many times I’ve heard the phrase: “I think I’ll just wait to buy.” It’s understandable. Affordability is a real concern. Sometimes it’s about the mortgage rate. Sometimes it’s about lack of inventory. Often, it’s both.
But here’s the truth: waiting can cost you more — especially here in the North Penn School District.
In August 2020, the median sale price in the North Penn School District hovered around $348,675. As of this past August, that figure has climbed to more than $445,000. That’s a 30.49% increase in just five years. Meanwhile, national average mortgage rates have jumped from 2.96% to 6.86% in the same period of time — a 131.76% increase.
At this rate, by 2030, we could be looking at a median sale price near $580,681.
Let the local numbers speak for themselves.
Local Market Trends
In the North Penn School District, encompassing areas like Lansdale Borough, Hatfield Township, Montgomery Township, and North Wales Borough; real estate trends have been notably varied:
● Lansdale Borough: The median sold price increased from $282,000 to $395,000 from August 2020 to August 2025, marking a 36.60% increase.
● Hatfield Township: The median sold price increased from $350,000 in August 2020 to approximately $526,721 in August 2025, marking a drastic 50.49% increase.
● Montgomery Township: The median sold price increased slightly from $394,500 in August 2020 to approximately $417,500 in August of 2025, marking a 5.83% increase.
● North Wales Borough: The median sold price increased from $245,750 in August 2020 to $370,000 in August 2025, marking a 50.55% increase.
These fluctuations indicate a dynamic market where prices can vary significantly across neighboring municipalities.It is important to note during the course of the last five years, there have been many factors that cause variations in the sold price, and these snapshots are meant to provide a general picture of the housing market.
So — should you wait?
Sure — if you’re okay paying more down the road while missing out on years of home equity. But if your goal is building wealth, planting roots, or simply securing housing stability in a community like Lansdale, then now may be the time to act.
Buying a home requires planning, preparation, and persistence. The market isn’t perfect. Inventory is tight. But you don’t buy when the market is ideal—you buy when you are ready. And when you are, there are ways to navigate the bumps—whether it’s through rate buy downs, creative financing, or future refinancing.
The decision to delay a home purchase is personal and depends on individual circumstances. However, consider the potential long-term implications:
● Rising Prices: If the current trend continues, waiting could mean higher prices in the future.
● Interest Rates: While rates have increased, they may stabilize or even rise further, impacting affordability.
● Equity Building: Purchasing now allows homeowners to start building equity, which can be advantageous in the long run.
The housing market in the North Penn School District presents both challenges and opportunities. It's essential to weigh the pros and cons based on personal financial situations and long-term goals.
Consulting with a local real estate professional like myself can provide valuable insights tailored to your specific needs.
Nia Mullins is a resident of Lansdale Borough, Montgomery County, a parent, and a licensed REALTOR© with Realty One Group Restore
(This letter is a printed submission expressing the views and thoughts of the named writer. An op-ed is not the viewpoint nor stance of Fideri News Network nor its affiliate websites. The letter is an opinion-based submission which contains statements intended only to share the thoughts of its author and is not a fact-checked news article.)
