Bucks County Housing Market Update: A Mix of Good News for Buyers and Sellers

The Bucks County housing market is showing some interesting changes! Here's a breakdown of what's happening:

Home Prices:

The median price of homes sold in October was $470,000. This is slightly lower than last month but still 5% higher than October 2023.

Speed of Sales:

Homes are selling faster than usual, taking an average of 22 days to find a buyer. This is even quicker than the typical October market.

Buyer Demand:

There are still more buyers than sellers, but the number of new contracts signed in October dipped slightly compared to last month.

Available Homes:

The number of homes on the market also decreased slightly in October.

What This Means for You:

Buyers: You might have a bit more negotiating power compared to the past year, and homes are selling quickly, so be prepared to act fast if you find one you love.
Sellers: While there's still strong demand, the market is becoming a little more balanced. Pricing your home competitively and working with a realtor can help you get the best offer.

The Bottom Line

The Bucks County market remains favorable for sellers, but there are signs of a gradual shift toward a more balanced environment. As Bucks County Association of Realtors® President Stephanie Garomon notes, “This data reflects the dynamic nature of our local market. While sellers continue to benefit from strong demand, buyers are beginning to see more opportunities. It’s a great time for both sides to engage with an experienced REALTOR® to make the most of the market conditions.”

Whether you’re buying or selling, partnering with a knowledgeable Realtor® can help you navigate this evolving landscape with confidence.

Looking for More Info?

Visit the Bucks County Association of Realtors® website at www.bucksrealtor.com to connect with a local Realtor® or learn more about the housing market.