Bucks County Home Sales Statistics

The number of homes sold and the prices at which they sold continued to drop during the first eleven months of 2011 compared to the same period in 2010. The one bright spot in the most recent data is that the number of homes sold in November of 2011, as well as the number of homes under contract, increased significantly compared to data for November, 2010.  Here are the facts:

Monthly Market Snapshot: November 2010 vs. November 2011

Homes for Sale                                  -7%
Average Asking Price                        -4%
Homes Pending                                 +10.7%
Homes Sold                                       +8%
Average Sale Prices                          -6.4%

Year-to-Date Market Snapshot:  1/1/2010-11/30/2010  vs. 1/1/2011-11/30/2011

Homes Sold                                        -4.3%  
Average Sold Price                            -5.5%
Average Days on the Market         +14.8%

Source: Coldwell Banker Hearthside Realtors Market Research for Trend MLS Data

As a homeowner, current Bucks County home sales statistics are discouraging, but, we we are actually quite fortunate.  Many areas of the country have experience a 50% deterioration in home sale prices since the real estate bubble burst.  Bucks County home sales prices have deteriorated to a much lesser extent

If you are considering selling your home, be realistic when setting the price.  Prices during the real estate boom were inflated beyond their realistic values.  Buyers are shopping around and comparing properties and prices.  In the process, they become fairly good judges of relative home values.