When looking at the year-to-month actual statistics (using the most recently completed month of May vs. March and January) for Bucks County, the results for residential homes on the market, sold, average price and days for sale before close is charted as follows:
|
Yr Ending |
Units Listed |
Units Sold |
% Sold |
Sold Avg. |
Avg. |
| 05/2008 | 12982 | 6316 | 49 | $361,270 | 66 |
| 03/2008 | 13369 | 6545 | 49 | $365,424 | 64 |
|
01/2008 |
13451 |
6789 |
50 |
$363,412 |
63 |
This shows that while the trend is still downward, it is slowing and hopefully will soon start to level and even reverse direction.
The current inventory is 4256, with an average monthly Sold of 485, yielding a backlog of 8 months to sell off the inventory at current rates of sale.
Copyright 2008 by Lawrence Yerkes. All Rights Reserved.
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Yes, we too are finally experiencing a slight upturn in our market as well. Good luck on the new direction up in your neck of the woods!