Upper Makefield, Washington Crossing and Bucks County Market Statistics for June 2010
For today’s post, lets look at what has happened through June, in Upper Makefield Township & Washington Crossing , Bucks County real estate.
Upper Makefield Township is interesting, because it represents one of the more expensive real estate communities in Bucks County, and also, in general has the fewest number of transactions. As a result, sometimes the numbers can be skewed.
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Upper Makefield Real Estate update, June 30, 2010
Inventory of homes for sale, as of the end of June, 2010 was 138
Inventory of homes for sale, as of the end of May, 2010 was 141
Inventory of homes for sale, as of the end of June, 2009 was 132.
Inventory is fairly stable, both month to month, as well as compared with the same time last year.
Average price of a home for sale at the end of June, 2010 was 1.24 million.
Average price of a home for sale at the end of June, 2009 was 1.32 million.
List price in inventory is down by 5.5%. However, this is where the numbers can get a bit skewed by the number of houses that are for sale above 1.3 million.
Sales data:
47 Homes have sold, through June, 2010 at 90% of original asking price.
30 Homes sold through the end of June, 2009 at 87% of original asking price.
This really represents a large increase in the activity level, for Upper Makefield Township real estate. Sales volume is up by more than 56% from last year, at the same time.
Additional observations: At the current sale pace, there still remains an 18.6 month supply of homes in inventory. This compares with 22 months a year ago, so factors have improved, although we still remain in a strong, buyers market in Upper Township and Washington Crossing.
The other interesting observation is that during 2009, most (82%) of the homes sold in Upper Makefield Township, sold for less than a million. Currently, 49% of the homes (68 of 138) on the market are priced above 1 million. This represents a 38 month supply at current sales pace for homes priced above a million. As bad as that sounds, it actually represents a significant improvement for more expensive homes in Upper Makefield.
As always, it is critical to price your home realistically, if you want to sell.
I can offer a very detailed report, that will show you homes that are active, pending and sold, within about a 5 mile radius of your home, in any area I serve. It is an extremely detailed report. If you would like to receive the report, please email me. Marty@buckscountypatoday.com
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