Lower Makefield Township, Bucks County market statistics Feb, 2010
The following information, regarding the real estate market in Lower Makefield Township, in Bucks County, are taken directly from our MLS data.
Please refer to the charts below, which will show the following as we look at real estate statistics, through February of 2010:
- Inventory of homes for sale in Lower Makefield Township at the end of February 2010 was 191
- Inventory of homes for sale in Lower Makefield Township at the end of January 2010 was 188
- Inventory of homes for sale in Lower Makefield Township at the end of February 2090 was 186.
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Unit inventory was up 2.7% year over year, and up by 3 houses from January 2010.
- Average price of a home for sale in Lower Makefield Township February 2010 was $491,000.
- Average price of a home for sale in Lower Makefield Township February 2009 was $551,000.
List price of homes for sale in inventory is down 10.8%
- 22 homes sold as of the end of February 2009, at 89% of list price.
- 27 homes sold as of the end of February 2010, at 92% of list price.
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Unit sales volume is up 22.7% year over year, from last year, which was up 1.6% from the previous year.
What does this mean to buyers and sellers?
There is still nearly 9 months of inventory of homes for sale in Lower Makefield Township. We consider a balanced market to exist when the inventory level is around 6 months. This means that to no one’s surprise, conditions still favor the buyer. There are still more houses for sale, than there are buyers for them. As you would also expect, the average days on the market is increasing. It is now 85 days, compared with 68 last year. If you are selling, the market is still a challenge. It is more important than ever, to price your house correctly, and market it aggressively.
It is possible to sell homes quickly, and get close to, or at, the asking price. I recently had a listing in Lower Makefield, that generated multiple offers, and sold for the asking price, in a week or so.
If you are curious how that happens, call or email me, and I will explain.
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