Market Conditions in Croydon>Question Details

Ryan.rayfield, Home Buyer in Philadelphia, PA

Why have property values decreased so rapidly in this area?

Asked by Ryan.rayfield, Philadelphia, PA Wed Feb 27, 2013

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Good news, due to the shortage of inventory in Bucks County, home prices are being driven up by consumer demand. Basically, there's more buyers than sellers at this time and you should see a positive increase in values very soon!

Ann Mc Guire
Weichert Realtor
B. Sci. Marketing
0 votes Thank Flag Link Tue Mar 12, 2013
Hi Ryan,

Sadly, some areas had a larger number of short sales / foreclosures than others. In those areas, we were seeing a "more rapid" decrease in prices.

However, I'll be settling on a home that I listed not far from Croydon (in the same township) and it appraised (and will settle) for slightly MORE than the last few recent similar sales, which is a good sign that even in those areas, prices are starting to level and even "squeak up" a bit. The condition of the home (of course) really helps - so homes that are in nice shape and priced correctly are still able to retain their value better than others in the same area. Hope that helps.

Brian Luce ABR SRS
Weidel Realtors
0 votes Thank Flag Link Wed Feb 27, 2013
Hi Ryan,

Prices have decreased in some areas and increased in others. Overall, prices stabilized in 2012 and by all indications, prices will increase in The Bucks County/Philadelphia area in 2013.
0 votes Thank Flag Link Wed Feb 27, 2013
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