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Wednesday, February 17, 2016

The Scoop About the Bucks County and Montgomery County Housing Market

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Overall, we’re currently experiencing a balanced market here in Bucks and Montgomery County with about four months of supply available. We also see more multiple offer situations, such as four offers for one home. In those specific areas, there’s about a one to two month supply of homes on the market.

The market doesn’t favor buyers nor sellers. However, it is an opportune time for both parties to act now. Here’s why.

According to our local key metrics, there were 2,583 homes for sale in the fourth quarter last year. That’s a decrease of 16.5% compared to the year prior. Inventory decreased 26.8% as well. Sellers can expect their home to be on the market for about 87 days, which is down by 5.9%.

Clearly, the market is heating up! The average sales price has even increased by 2.9%. If you’ve been thinking about selling, now is a great time to act. Plus, interest rates are still under 4%, so buyers also have a great shot as well. Remember to give me a call or send me an email if you’re interested in buying or selling this spring!

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