King of Prussia’s housing market is showing an interesting split: buyer activity continues to decline, while the average price of homes being sold continues to rise.

Over the latest 30-day period, RealScout tracked 131 active buyers generating 360 buyer interactions. That’s down from 149 active buyers and 387 interactions in last week’s report.

Meanwhile, 24 homes were recently listed or updated at an average list price of $573.9K. Another 22 homes sold at an average price of $593K.

This isn't just a one-week movement.

Since we began preserving comparable 30-day RealScout data in late July, active buyers have declined in every report, falling from 190 to 131. Buyer interactions have followed the same direction, dropping from 565 to 360.

Average sold prices have done exactly the opposite.

That's five consecutive reports with a higher average sold price, from $461.2K in our first 30-day snapshot to $593K today.

There are clearly fewer active buyers showing up in RealScout's latest data, but that hasn't translated into weaker average sale prices. Instead, the homes changing hands recently have been selling at increasingly higher average price points.

There are some important limitations. Average sold price does not tell us whether individual homes are selling above or below asking, and changes in the types and price ranges of homes sold can move the average significantly — especially with only 22 sales in the latest period.

So I wouldn't conclude that KOP home values suddenly jumped from $461K to $593K.

What we can say is that buyer activity has consistently moved lower while the average price of the homes being sold has consistently moved higher. That's now a pattern worth following.

Based on rolling 30-day market activity data from RealScout through August 25.

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Thank you for reading,

Corey