Warminster, PA – The Bucks County Association of Realtors® (BCAR) unveils significant developments in the real estate market for April 2024, characterized by an upturn in median sold prices and a surge in buyer opportunities. The median sold price for residential properties stood at $463,500, an 8.9% increase from April 2023 and a 2.3% rise from the previous month.

Properties are selling swiftly, with the average days on market now at 19 days, well below the five-year April average of 24 days. The market is buzzing with activity, evidenced by a robust 20.7% month-over-month increase in new contract activity, totaling 594 new pendings. Overall pending contracts, including those carried over from March, have risen to 866, up 15.5%.

Despite these robust sales figures, the supply of active listings experienced a substantial increase to 623 units, a 23.4% rise. This increase in supply has led to a more balanced market. The Contract Ratio, which measures pending contracts against active listings, is now at 1.39, lower than previous months, suggesting a shift towards more favorable conditions for buyers.

Stephanie Garomon, President of the Bucks County Association of Realtors®, highlighted the changing dynamics, stating, "This April, we've seen a realignment in the Bucks County real estate market that favors not only the continuation of seller benefits but also opens the door wider for buyers. The increase in inventory and the adjusted contract ratio are providing more options and better leverage for buyers, signaling what could become a healthy, balanced market."

This month's figures suggest a market that, while still lively and beneficial for sellers, is evolving to provide considerable advantages for buyers as well. BCAR is dedicated to providing timely and precise data to support all market participants in making informed decisions.

For more detailed information on the Bucks County real estate market, please visit www.bucksrealtor.com