Real estate market statistics for Newtown, Bucks County, Pa.
In my last post, I took a close look at real estate statistics through February of 2010, for Lower Makefield Township.
Today, we will see what is happening with the real estate market, in Newtown Township, Bucks County.
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- Inventory of homes for sale at the end of February this year, was 120
- Inventory of homes for sale at the end of January, 2010 was 101.
- Inventory of homes for sale at the end of February, of 2009 was 119
Basically, unit inventory is virtually equal to what it was last year, at the same time, but did rise by 19 homes, from January, 2010.
- 16 homes sold through the end of February, 2010, at 95% of the asking price.
- 13 homes sold through the end of February, 2009, at 92% of the asking price.
Unit sales volume is up 23.1% compared with last year. Full year 2009 unit sales were down by 3% from the prior year. Buyers are achieving approximately 5% as an average discount off of the asking price.
- Average price of a home for sale in February of 2010 was $475,000
- Average price of a home for sale in February of 2009 was $501,000.
List prices of homes in inventory, is donw by 5.2%
What does all of this mean to buyers and sellers? There is currently a supply of just over 6 months of inventory. We consider a market to be balanced between buyers and sellers, when the inventory is about at 6 months. At the moment, that is the case in Newtown Township. However, houses are definitely taking longer to sell. Average days on the market is 62, versus 53 last year. Across the board, prices fell 3.7% in Newtown, for all of 2009. Although the list price of homes has fallen this year, it is too early to see what the 2010 trend will be.
As always, it is critical to price your house correctly. Be aware that buyers are achieving approximately a 5% discount from the asking price.
If you have any questions, or want more detailed information, please feel free to contact me.
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