Looking at January thru March 2010, average days on market is 100 days. When evaluating the Bucks County Home Real Estate Market, I use the formula New Listings = Pending Sales + Settled Homes. When you are viewing the entire Bucks County, we are looking for trends in the formula. In January 838 Listings, compares to 361 Pending Sales + 237 Settled homes, shows inventory growing in January. In February, 709 Listings compared to 388 pending & 237 Settled homes continues the trend of growing inventory. March listed 973 homes & only 410 pending sales & 235 settled homes in Bucks County PA, shows again signs of an increasing inventory of homes on the market.
This is good news for buyers! With more homes coming on the market, buyers have more homes to choose from and can expect to get favorable pricing and consessions from home sellers. If you are selling and buying, you can get a favorable deal on a purchase which can more than off-set less favorable terms when you sell your home.
With favorable interest rates under 5%, home ownership is still a better option than renting.