Newtown, PA - Market Update - September 30, 2008

The end of the third quarter gives us the opportunity to review the majority of the year, including the busiest selling season, versus the same period a year earlier. As of September 30, 2008, average sales price of a single family home in Newtown Township is $406,000. This is a 3.3% decrease over the average of $406,000 at the same time last year. Newtown has seen some pressure on it's upper end; homes over $800,000, due to the lack of available Jumbo financing.

Unit sales in Newtown are down 7.6% from with unit sales declining from 211 to 195 and units in inventory are down to 113 from 147, a 23.1% decline. Average days on the market have grown from 50 to 54. and in Newtown,0 as in neighboring Lower Makefield, we're seeing an amazing number of properties selling in less than 30 days. Of the 195 homes sold so far this year in Newtown, 89 have sold in 30 days or less. That is a shocking 45%! This is an astonishing statistic when viewed against hte doom and gloom that we hear in the national media. Homes in Lower Makefield are selling if they are prepared to sell, priced to sell and if they are being sold by an agressive, powerful Agent, like myself.

Andy Raffle sells Bucks County Real Estate. Check out my website for Yardley homes and information, search for properties, read my informative Real Estate Articles and read my Bucks County Real Estate Blog

Andy Raffle

www.askAndyRaffle.com

Coldwell Banker Hearthside, Realtors

70 West Afton Avenue

Yardley PA 19067

215.493.9080x130