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John McClintock Team

Low Inventory “Does Not Mean”
Fewer Homes Are Selling

Bucks County, PA: The news is constantly touting the lrecord ow number of homes available for sale. Low inventory doesn't necessarily mean fewer houses sold. Indeed, places like Bucks County demonstrate the opposite. In pre-pandemic January (2019) there were 391 single family homes sold here ranging from a $38,000 residence in a Plumstead Township manufactured home park to a custom home on 22 acres in Upper Makefield for over $3-million. The median days on market was almost a month (29 days). Throughout January 2019 there were an average of 88 Bucks County homes sold each week.

Fast forward to January 2022 which saw 506 single family homes sold in the county — an average of 114 homes per week. Homes ranged from another $38,000 dwelling in a manufactured home park (this time in Richland Township) to a more than $2.7-million reproduction manor home in Upper Makefield Township. That's an increase of 30% in number of homes sold.

What's different, of course, is the cost of homes and the amount of effort and commitment required for buyers to have their offer accepted. The median sold price in January 2019 was $275,000 with a median days on market of nearly one month (29 days). January 2022 saw the median sold price climb to $381,500 (a more than 38% increase). The median days on market dropped to just one week (7 days).

Professional help is here. Yes, homes cost a lot more and sell a lot faster which is why now, more than ever, you need professional help to navigate this unprecedented real estate market. Let's talk. Call us at 267-759-9518. Take advantage our our decades of experience helping buyers and sellers across Bucks County.

john mcclintock team

Information is deemed reliable but not guaranteed.