Bucks County Home Sale Statistics Through March, 2012

It is starting to look like the home sales market has turned around in Bucks County, PA.  Here is a chart created by the local Multiple Listing Service, TRendMLS, showing single family home sales statistics for March, 2012 compared to March, 2011. It also shows year to date figures.  

• The number of single family homes for sale dropped from 3,702 to 3,413 in the past twelve months.
• During the first 3 months of 2012, 864 homes sold compared to 778 during the first 3 months of 2011. 
• The ratio of Sale Price to Original Listing Price for March, 2012 has increased by .6%.compared to a year ago. Original Listing Price reflects the price of a home when it was first listed under the contract in force at time of sale.  If the price of the home was reduced after its initial listing, the reduced price is not reflected in this number.

For those buyers waiting for the market to bottom out, it may have already done so.  Buyers are fortunate, however, mortgage interest rates are at historically low levels providing those who qualify a lot of buying power.