Andy Raffle, Yardley, PA Real Estate

April 2008 Market Data

April 2008 data for our primary markets served (Lower Makefield, Upper Makefield and Newtown Townships in Pennsylvania) showed slight increase in prices paid over the same period of 2007, even in the face of a decline in units sold.

For the four months ended April 30, 2008, average prices of sold units were up 1.07% from $508,000 to $513,000. Standing out from the pack was Lower Makefield where average price was up a whopping 16.2% to $508,000 over last year's $437,000. Units sold were down 30% to 65 from last year's 93.

Inventories were down 2% for the period, from 514 to 503 units while list prices were up 14% to $835,000 from $732,000. These listing figures are greatly skewed by Upper Makefield where the volume of properties listed is up nearly 30% from 122 to 158. Isolating Lower Makefield and Newtown Townships shows available inventory down 12% from 392 units to 345 and a slight increase in listing price of 2% from $531,000 to $542,000.

Examining the data more thoroughly it seems that there is slowdown at both the bottom and top ends with the middle ($450,000 to $800,000) still performing. The continued strength of high sales prices and low inventories in Lower Makefield warrant close examination in the coming months as this could be a sign of a coming breakout for the area.

For Bucks County, as a whole, prices were down a modest 1.4% even in the face of a 19% decline in sales. Inventories were up 7.3% and list prices are up ,2%. It is clear that, while the market has lost some of its steam from previous years, the gloom and doom presented in the national marketplace has not come to our area.

Sellers - now more than ever it is IMPERATIVE to price well, market aggressively and hire the finest, most qualified representation. In short, if you're not working with an experienced agent like me at a great agency like Coldwell Banker Hearthside, you're doing yourself a tremendous disservice. Well priced, well marketed homes are selling while others languish.

Buyers - This market will be won by well informed, well represented Buyers and Sellers. The age of the part time Realtor is over. If you have "a friend of a friend", this is NOT the time to get to know each other. I work with local Buyers and those relocating from all areas of the country. Call me today to discuss your discuss your Real Estate needs.

2008 1st Quarter Market Data

1st Quarter 2008 data for our primary markets served (Lower Makefield, Upper Makefield and Newtown Townships in Pennsylvania) showed a flat to slightly declining market with some abberations that we'll need to watch over the coming months.

For the three months ended March 31, 2008, average prices of sold units were down 2.4% from $495,000 to $483,000. Bucking the trend was Lower Makefield where average price was up a whopping 15.6% to $497,000 over last year's $430,000. Units sold were down 21% 47 from last year's 68.

Inventories were up 6% for the period, from 461 to 487 units while list prices were up 17% to $883,000 from $752,000. Again Lower Makefield needs watching over the next few months as inventories there are down over 20% to 181 units from 231 at the same time last year.

Examining the data more thoroughly it seems that there is slowdown at both the bottom and top ends with the middle ($450,000 to $800,000) still performing. The high sales prices and low inventories in Lower Makefield warrant close examination in the coming months as this could be a sign of a coming breakout for the area.

For Bucks County, as a whole, prices were up 2% even in the face of a 20% decline in sales. Inventories were up 6% and list prices are up 2.5%. It is clear that, while the market has lost some of its steam from previous years, the gloom and doom presented in the national marketplace has not come to our area.

Sellers - now more than ever it is IMPERATIVE to price well, market aggressively and hire the finest, most qualified representation. In short, if you're not working with an experienced agent like me at a great agency like Coldwell Banker, you're doing yourself a tremendous disservice. Well priced, well marketed homes are selling while others languish.

Buyers - This market will be won by well informed, well represented Buyers and Sellers. The age of the part time Realtor is over. If you have "a friend of a friend", this is NOT the time to get to know each other. I work with local Buyers and those relocating from all areas of the country. Call me today to discuss your discuss your Real Estate needs.

2007 Year End Market Data

For the year ended 2007, our primary markets (Lower Makefield, Upper Makefield and Newtown Township, PA) remained consistent with 2006 sales figures. In the three noted markets, average sales price was up insignificantly from $521,000 to $522, 000. Sales volume was down 20 units from 2006 at 738 units versus 758 a year earlier. Inventory levels were up only slightly in those same markets with 413 units available at 12/31/2007 versus 400 units available at the previous year end - a 3.25% increase. The homes in inventory had an average list price of $894,000 versus an average of $769,000 a year earlier, a 16% increase.

In summation, our primary market has experienced a flat year, in spite of tremendous external pressures from interest rate markets and a negative national view of the Real Estate market. Homes are selling at prices that are in line to where they were a year earlier and no swelling of inventories has occurred, despite repeated warnings from the national press.

A brief note on the Bucks County Marketplace as a whole:

Units sold were down 5.2% but, prices were up .5%. The largest declines were seen at the lower end. Inventories countywide were up 3.8% with the average list price up 4.1%

For Sellers, it is more important than ever to price and market your home properly as without this information on the local market, Buyers may decide to stay home. It's a new era in the Real Estate market and competent representation is the key to success.

For Buyers, it is important to remember that while there has not been significant appreciation over the past twelve months, there are no fire sales in this market. Come prepared, know the market and make a sharp, aggressive offer and you'll stand out from the crowd. Information will allow you to make the right move at the right time.

I invite both Buyers and Sellers to call me today for additional information or discussion of the benefits of my representation.