The stats for Bucks County’s housing market were great in 2017. In the last half of 2017, the average sales price was 6.92% higher than in 2016 and just 1.79% below the peak. A big reason for this is the historically low inventory, the age old supply and demand conundrum.
We also reviewed the absorption rate to measure how strong of a Seller’s Market we really have. This chart shows how long it would take to sell all of the homes currently on the market, based on how many homes sold last year. A balanced market is 6 months of inventory. More than 6 months is a buyer’s market and below 6 months is considered a seller’s market.
In most of our Newtopias it is a strong Seller’s Market. We believe the reason New Hope/Solebury presents as a buyer’s market, is that their prices tend to be higher. In the last 12 months in all of our Newtopias, 3,848 homes sold and 83% of these were priced under $600,000. Currently there are 100 homes for sale in New Hope Solebury and 68% are listed over $600,000.
All info is based on data as of 1/10/2018.
In all of the Boroughs it is a Seller’s Market. People want the walkability and all the perks the Boroughs offer. In fact, the millennials (who have thus far leant more toward the cities) are liking our Boroughs, and have even come up with a new name, SURBAN.
The bottom line is this, if you are thinking of selling your home this year, it is most probably the best time we have seen since the peak. It is a seller’s market and prices are up. Don’t wait until “the spring” to discuss a move, best to get all your ducks in a row now. Plus, the fewer homes on the market, the better off you will be.
Call or email for a no cost – no obligation consultation and we can figure out the best strategy for the marketing and sale of your home.
We know everyone’s story is different, we promise to listen to you and your goals and create a strategy to get you where you want/need to be. You can depend on us to weigh the pros and cons and be forthright with all the facts. Once you a have all the info, you will be able to make an educated decision that’s best for you and your family… Don’t Make The Move Without Us!!