Newtown Township Home Sales Statistics through November 30, 2011 are now in. Here are facts in a nutshell for single family home sales:
· The number of homes on the market increased 2.5% in the past year from 122 in November, 2010 to 125 in November, 2011.
· The average price of homes for sale decreased 10.6% from $458,000 in November, 2010 to $410,000 in November, 2011.
· The number of homes sold during the first eleven months of 2011 decreased 18.8% from 191 in 2010 to 155 in 2011.
· The average sold price to original listing price was 93% during the past year.
Comparing current data with Newtown Township Home Sales Statistics for prior years, it's apparent we are still in a buyer's market.
2011
|
2010
|
2009
|
2008
|
2007
| |
JAN
|
13
|
7
|
7
|
13
|
11
|
FEB
|
5
|
9
|
6
|
17
|
16
|
MAR
|
11
|
11
|
13
|
21
|
22
|
APR
|
10
|
25
|
15
|
13
|
14
|
MAY
|
15
|
21
|
17
|
28
|
31
|
JUNE
|
23
|
42
|
30
|
34
|
37
|
JULY
|
24
|
18
|
29
|
31
|
27
|
AUG
|
14
|
19
|
30
|
21
|
36
|
SEPT
|
15
|
15
|
21
|
13
|
16
|
OCT
|
8
|
15
|
22
|
19
|
17
|
NOV
|
16
|
9
|
19
|
7
|
19
|
DEC
|
11
|
14
|
10
|
13
|
Source: Coldwell Banker Hearthside Realtors market research based on Trend MLS Data
New home construction is still taking place in Newtown Township
Homeowners wishing to sell their homes should understand current market conditions and not expect to sell their homes for prices of homes that sold in their neighborhoods at the peak of the housing bubble. Most buyers will not make an offer on a home they feel is significantly overpriced; so homes that are realistically priced have a better chance of selling.
Buyers now have the opportunity to purchase homes at attractive prices and at record low mortgage interest rates. No one can totally predict the market, but for people planning to stay in the same area for several years, it may be a good time to buy.
Homeowners wishing to sell their homes should understand current market conditions and not expect to sell their homes for prices of homes that sold in their neighborhoods at the peak of the housing bubble. Most buyers will not make an offer on a home they feel is significantly overpriced; so homes that are realistically priced have a better chance of selling.
Buyers now have the opportunity to purchase homes at attractive prices and at record low mortgage interest rates. No one can totally predict the market, but for people planning to stay in the same area for several years, it may be a good time to buy.
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