Yardley, PA - Market Update - September 20, 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 Lower Makefield Township is $495,000. This is a 2.7% increase over the average of $482,000 at the same time last year. The attractiveness of the area and it's easy "commutability" to new York, Princeton and Philadelphia have kept the real estate market bubbling in the area.

Unit sales and inventories are both down drastically in Lower Makefield with unit sales declining from 285 to 211 (-26%) and units in inventory also declining, from 229 units to 201 this year (-12.2%). It is certainly understandable that, with less homes on the market, less homes can sell but, it is also clear that home are, in fact, selling. Average days on the market are up from 60 days to 64 days (+6.7%) and we're still seeing a shocking number of properties selling in less than 30 days. In Septemeber, 10 oif the 23 homes sold (43.4%) were on the market for less than 30 days! So far this year, 95 of the 211 homes sold (45%) have sold in less than 30 days! 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