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How Hot is the Real Estate Market? Main Photo

How Hot is the Real Estate Market?


Posted: September 07, 2020 by Lisa DeJessa

Any Bucks County Real Estate agent can tell you – the market is hot! The August numbers are not in yet, but based on the July figures and personal experience the real estate market in Bucks county is great if you are a Seller – challenging if you are a Buyer.

  • There was an increase in total units sold in July, with 908 sold. This month's total units sold was markedly higher than at this time last year.

Conversely inventory is down:

  • July 2020 Versus July 2019; the total number of homes available this month is lower by 927 units or 48%!

Prices are even starting to see a bit of an increase:

·       Last July, the median sale price for Bucks County Homes was $340,000. This July, the median sale price was $362,750, an increase of 7% or $22,750 compared to last year. The current median sold price is 7% higher than in June.

 

(Median sale price is the middle sale price in a given month. The same number of properties are above & below the median).

 

We are seeing that houses that are priced correctly and are in move-in condition are selling in a day with multiple offers. Buyers are having to try several times before they have their offers accepted. This can be frustrating for everyone!

If you are thinking of Selling – now is the time. Give your real estate professional a call and get a competitive market analysis for your property. Take advantage of the real estate fever!

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