Bucks County Pennsylvania Luxury Housing Market Update July 218
Bucks County, Pennsylvania - July 218 The real estate market is always changing, and if you re buying or selling a home especially a luxury property it s critical to understand the current market conditions. More than simply seeing what s happening to real estate as a whole in your local area, you need insights on what s taking place in the highend market, specifically with uncommon and unique homes like yours or those for which you re shopping. That s why Long & Foster publishes our exclusive LuxInsight report giving consumers like you invaluable information on the luxury market performance in your local area. Published monthly, LuxInsight provides you with A broad overview of real estate trends in the high-end real estate market. From median sale prices and active inventory to the current housing Demand and available active listings, LuxInsight gives you access to essential statistics you need to know. Beyond this valuable market information, Long & Foster s team of luxury sales associates is available to guide you through the real estate process. We believe luxury real estate is all about the individual, and when you work with us, you'll receive an experience tailored to your unique needs. You'll enjoy exceptional service and expertise, provided by agents who specialize in marketing and selling the most stunning luxury homes. You'll gain our exclusive connections around the world and get a luxury home experience with proven results. AT A GLANCE Active Inventory New Listings 67 Units Sold 52 Median Sale Price $888, 55 14 6 $1,1, 5 45 4 12 1 8 6 4 2 5 4 3 2 1 $1,5, $1,, $95, $9, $85, $8, 3 $75, Down -3.3% Down -5.6% Up 48.6% Down -.8% 2
Bucks County, Pennsylvania - July 218 Compared to last July, the total number of homes more than $75, available this month was lower by 3.3% and lower by 13.1% compared to July 216. Active inventory this July was.5% higher than the previous month s supply of available inventory. Total Inventory INVENTORY PRICE RANGES $75K + 2.8% $75K - $2M 17.68% $2M - $5M 2.93% $5M+.19% 6 ACTIVE INVENTORY 5 4 3 2 515 56 517 499 441 346 348 379 454 488 491 498 474 474 439 412 2 362 381 414 426 445 465 448 451 454 447 415 334 338 363 372 42 431 1 NEW LISTINGS & NEW CONTRACTS New Listings New Contracts ACTIVE INVENTORY Versus Previous Years 14 12 1 8 6 4 2 58 58 27 25 71 37 67 3 52 5 48 46 44 42 4 498 448 3
Bucks County, Pennsylvania - July 218 This month s units sold for homes more than $75, was higher than at this time last year, an increase of 48.6% versus last July and an increase of 48.6% versus July of 216. There was an increase of 2.% in luxury units sold in July compared to June of this year. 6 5 4 3 2 1 UNITS SOLD Versus Previous Years 52 6 UNITS SOLD 5 4 3 2 1 44 23 28 22 21 21 2 1 2 23 15 4 41 29 23 42 19 15 17 13 29 26 37 44 26 22 31 18 8 29 21 41 51 52 Sold Date City Zip Code RECENT SELECTED LUXURY SALES Final List Price Final Sale Price Sale Price as % of List Price July 13, 218 Pipersville 18947 $1,55, $1,5, 96.8% 23 July 27, 218 Newtown 1894 $975, $937,5 96.2% 66 June 19, 218 Upper Makefield 1894 $1,169,995 $1,566,375 133.9% 2 June 7, 218 Newtown 1894 $1,714,995 $1,475,995 86.1% 159 June 22, 218 Newtown 1894 $939,9 $93, 98.9% 39 June 21, 218 Doylestown 1892 $889,9 $915, 12.8% 23 June 26, 218 New Hope 18938 $768, $758, 98.7% 7 May 11, 218 Newtown 1894 $1,289, $1,26, 97.8% 18 May 1, 218 Doylestown 1892 $839,9 $842,26 1.3% 22 May 23, 218 Doylestown 1892 $85, $8, 98.2% 8 DOM Buyer Long & Foster Represented Seller 4
Bucks County, Pennsylvania - July 218 In July, the median sales price for homes more than $75, was $888,, a decrease of.8% compared to last year. The current median sales price was lower by 8.5% than in June. $92, $91, $9, $89, $88, $87, $914,111 MEDIAN SALES PRICE Versus Previous Years $895, $888, $1,2, MEDIAN SALES PRICE $1,, $8, $6, $899, $875, $932,5 $1,3, $95, $91, $895,952 $86, $938,5 $859, $9, $822, $914,111 $91, $993,51 $95, $957,5 $1,57,5 $9, $999,999 $1,, $95, $9, $895, $895, $883,3 $889, $921, $997,5 $934,738 $847,5 $866,25 $925, $88, $96, $97, $888, $4, $2, $ $7,, TOTAL DOLLAR VOLUME SOLD $6,, $5,, $4,, $3,, $2,, Total volume sold this July was 69.6% higher than the same month one year ago. $1,, $ $44,531,146 $34,257,479 $34,99,212 $57,829,75 5
Bucks County, Pennsylvania - July 218 In July, the average sale price for homes more than $75, was 96.9% of the average list price, which is similar compared to a year ago. 15% 1% SALE PRICE AS % OF LIST PRICE This month, the average number of days on market was 127, lower than the average last year, which was 157, a decrease of 19.1%. 95% 9% 93.4% 85% 96.1% 96.9% 96.9% DAYS ON MARKET 25 25 2 15 1 5 126 124 11 11 86 73 127 16 138 116 176 139 1 136 87 134 95 72 176 133 69 14 125 157 117 142 111 8 18 117 151 14 12 155 153 127 MONTHS OF SUPPLY In July, there were 8.3 months of supply available, compared to 12.8 in July of 217. That is a decrease of.2% versus a year ago. 45 4 3 25 2 15 1 5 11.7 22. 18.5 22.7 21. 16.5 17.4 37.9 21.7 19.7 32.5 12.3 14.2 11.6 16.3 19.1 9.8 18.5 24.1 22.4 31.8 14.7 17.1 12.6 12.8 1.3 13. 17.2 18.9 11.3 18.6 42.3 12.5 17.7 9.8 8.5 8.3 6
Bucks County, Pennsylvania - July 218 References & Definitions BUCKS, PA: LISTING SOURCE, REPORTING AREA, & DEFINITION Based on data supplied by the TREND MLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. This report includes coverage for the county of Bucks, Pennsylvania only. Analysis dates for all regions are July 1, 215 through July 31, 218. MEDIA CONTACT Vicki Bendure, Bendure Communications Email: Vicki@bendurepr.com Phone: (54) 687-336 Contacts & Disclaimers CREATED BY Michael Bystry, Long & Foster Real Estate, Inc. Senior Market Research Analyst DISCLAIMER "Information contained in this report is based on data provided by the local area Multiple Listing Service and its member Association(s) of REALTORS. No representation, expressed or implied, should be taken from information herein. Neither these organizations nor Long & Foster Real Estate, Inc. guarantee or are in any way responsible for the accuracy of these results, which do not reflect all activity in the marketplace. For more information regarding your specific market, contact one of Long & Foster s knowledgeable and experienced sales associates. Analysis dates are July 1, 215 through July 31, 218. Information contained in this report is not limited to transactions done by Long & Foster Real Estate, Inc. The data reported is solely for residential real estate transactions. Information contained in this report is deemed reliable but not guaranteed, should be independently verified and does not constitute an opinion of Long & Foster Real Estate, Inc. For more information regarding your specific market, contact one of Long & Foster s knowledgeable and experienced sales associates. Analysis dates are July 1, 215 through July 31, 218". Material appearing in this report may be reproduced or copied without permission. Please use the following acknowledgement for citation: Source: Long & Foster Real Estate, Inc. and also cite the appropriate MLS. 7