by Valerie Patterson
Among the many disruptions caused by the Covid-19 pandemic: spring real-estate listings and sales. The April – July time frame, traditionally the most active time of year for Bucks County home sales, largely was on hold until last week, when Gov. Tom Wolf began to allow in-person showings, inspections, appraisals, and photography/videography. Now, realtors are scrambling to launch properties and to respond to pent-up demand from buyers to see properties in person.
As the March shutdown went into effect, the inventory of homes for sale already was low as buyers were active throughout the unusually mild winter. Now, the selection of homes for sale in most price points in Bucks County remains extremely thin. From Richland Township and Quakertown in Upper Bucks, down to Lower Makefield and Yardley Boro, there is less than a four-month supply of homes for sale, according to data from Bright MLS, compared to a seven-month supply a year ago. A six-month supply of homes is considered a balanced market between homes available and buyer demand.
If you have thought about selling, now is the time to consult with an agent from Kurfiss Sotheby’s International Realty’s New Hope office to learn about market conditions in your specific neighborhood. An agent also can advise you on what improvements to make ahead of listing your property. Of course, you also will receive advice, based on data, on how to price your home in a sweet spot so that you have as much activity as possible. While sellers may feel they are in the catbird seat as far as being able to price aggressively, a recent flash survey by the National Association of Realtors shows most sellers don’t expect to raise or lower their prices nor are most buyers expecting a shift in prices by more than 5%. For additional information, please contact our New Hope Office: 215.794.3227.
Kurfiss Sotheby's International Realty 