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Frank Dolski's Blog

By Frank Dolski Associate Broker | Agent in 18901

Is Bucks County, PA Turning Into A Seller's Market?

It was not all that long ago that buyers were dominating the housing market in Bucks County, Pennsylvania.  Interest rates remain at historically low percentages and the market has been changing for awhile.

My name is Frank Dolski , Associate Broker and the Top Producing Coldwell Banker Affiliated Realtor in the state of Pensylvania in 2012.  The real estate market is coming back with a vengeance!  I can say with full confidence that the housing market is positively changing in the Bucks County area with steady improvement! It is starting to shift to a seller's market! Not that there are still not some great deals for buyers, but the market is shifting with less supply and more demand! I can also proudly state the versus Banker versus Realtors proudly dominated the Bucks County real estate market in 2012 with 21% market share in our core markets which are Doylestown, Buckingham, Upper Makerfield, Lower Makefield/Yardley.

Multiple offers?  Full asking price? Days or hours on the market?  Yes this is occurring in many areas of Bucks County.  Every area is different but overall, the Bucks County market is coming back with a vengeance!

$1,822, 258, 034 in sales have occurred in Bucks County in the past 12 months versus
$1,734,165, 312 versus the previous 12 rolling months. That is an overall increase of 4.84% in the past 12 months. The average price of a home in Bucks County was $325,461 in the past 12 months versus $321,201 or an increase in the average sales price of 1.31% for the same period from 5/11 to 5/12. Pending sales continue to increase as well but inventory continues to run lower than last year.

Sold volume in Buckingham Township alone was $140,936,226 versus $108,333,022 in the previous year's same 12 rolling months.  That is an increase of 23.13% in sold volume with a 7.27% decrease in inventory in 2013 versus the same previous 12 rolling months in 2011-2012. *All statistics were pulled from the TREND competitive database for Bucks County.

So what can we expect?  If the market continues to trend as it is, we will see a steady increase in sales over the remainder of the year. My recommendation to sellers is as always.  Sellers must make their homes stand out among the competition by competitive-cluttering, staging, painting, updating and doing everything possible to let their homes stand above the competition. A professionally staging consult is a must and I offer a free professional consultation from Creative Staging.

Most sellers if not all must look at their home through a buyers eyes.  Think of yourself as the buyer and what upgrades or changes you would want to see in your own home.  You must do this to remain competitive.  It is fact that staged homes sell quicker and for more money. Location is still the #1 factor when considering a home purchase as will always be the most critical factor.  But if your home shows poorly or is "full of stuff", it will not show its best. A Realtor can assist in helping you through this process. Please contact me if you would like a competitive market analysis on how your home fares in today's market!

Frank Dolski   MBA, ABR, e-PRO
Associate Broker
Certified Relocation Specialist
Previews Luxury Home Specialist
Coldwell Banker Hearthside Realtors
215-803-3237 (mobile)
215-794-1070 x-103
f.dolski@cbhearthside.com
www.FrankDolski.Com

Ranked #1 In The State of PA in 2012 For All
Coldwell Banker Affiliated Realtors!


2012 Coldwell Banker International President’s Elite Award!

2012 Top Producing Agent and Agent of the year for Coldwell Banker Hearthside Realtors!<a

Comments

By Ctini,  Mon May 6 2013, 12:43
I could not agree more that the market has quickly become seller centric. With a reduced inventory, sellers who present their homes will find themselves in a much stronger position to sell and negotiate for the first time in several years.

With interest rates remaining at historic lows and housing prices climbing, buyers have reappeared in masses for fear of missing their opportunity to own. Therefore, it is essential for buyers to differentiate themselves by strengthening their offer. With multiple offers now being the norm, a buyer who has been properly qualified and may have already begun the loan approval process will have an advantage over other buyers vying for the house.

In a seller centric market, buyers need to give themselves an edge over other offers. The best way to accomplish this is with the home financing process. Doing so puts both the seller and buyer in a great place and improves the probability of a successful conclusion for both parties.

Corinna Tini Princeton Mortgage Corp

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