Real Estate Inventory trends, Yardley, Newtown, Bucks County, Pa.

February 8th, 2010 by Marty Millner
Categories: Lower Makefield Township, Market Statistics, Newtown Boro, Newtown Township, Upper Makefield Township, Yardley Boro
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I am working with a lot of buyers who want to find a home, and take advantage of the tax credit, before it expires. As I have posted, previously, in order to qualify, you must be under contract by April 30th, and close by June 30th, 2010.

What’s intersting right now, is that it appears as though the buyers are looking earlier than usual, for a spring market, but the sellers have not quite caught on. Check the chart below, which clearly shows that for both Yardley (19067) and Newtown (18940), inventory has very clearly, trended lower, over the past 90 days.

Yardley (19067) Newtown (18940) Single family homes inventory

As always, the real estate market in Yardley, Newtown, and all over Bucks County, is basically a function of suppy and demand. As we know, over the past several years, there have been many more people who want to sell, than those who want to buy. The result is a buyers market. Lots of inventory, all competing for a smaller buyer pool.

As we approach the spring market, the question really becomes, are we still going to see a market where there are a lot more sellers than buyers. The shift in inventory, at least offers the possibility that the dynamics in the market are shifting a bit, to a more balance market condition. We saw clear evidence, late last year, that the tax credit did stimulate transactions. From a units perspective, November 2009, was surprisingly busy.

It remains to be seen what the spring will bring. It is clear, that inventory levels have trended lower. Interest rates are incredibly low, and the tax credit is a wonderful incentive for those considering buying. How the relationship between numbers of buyers and sellers plays out , in each local market, will determine whether the market becomes more balanced in the spring.

If you would like to know what your house is worth, in the current market, please feel free to contact me.

This entry was posted on Monday, February 8th, 2010 at 12:43 pm and is filed under Lower Makefield Township, Market Statistics, Newtown Boro, Newtown Township, Upper Makefield Township, Yardley Boro. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.