East Coaster, Home Buyer in Chalfont, PA

are homes over priced in the chalfont area?

Asked by East Coaster, Chalfont, PA Mon Jan 3, 2011

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Janet Ditroia’s answer
I live in the Chalfont near County LIne Road and I belive that it is a mixed bag. some homes are overpriced and some homes are priced correct in the marketplace., Depending on the type of home, how long it remains on the market, condition, amenities, typical statistics in the area,prices fluctuate. Since the market is working on correctting itself, I would suggest doing your homework, find a a home you love, and determine of it is correctly priced. You are not along in the process, speak with a realtor you trust, and together you can narrow down what type of home you like, and, whether is it priced typical to the market. You have quite the selection available to you, so, take your time, but not too long or you will miss the better interest rates at the present time. Unless of course you are paying cash, (which a small percentage of the buyers do) then you do not have the concern of higher interest rates. Home prices are going up in Chalfont just based on the present local market. Get your feet wet, check out what is going on and look at a few homes. Get a Comparative Market Analysis on your home if you are selling and start looking....
There is no time like the present :) all the best...
0 votes Thank Flag Link Wed Jan 5, 2011
i live in chalfont and most homes are definitely underpriced. i have lived here for 24 yrs. and a realtor for 10.
thanks have a great day
0 votes Thank Flag Link Fri Mar 22, 2013
Hi East Coaster,

I can see why you would be asking this question. I know that in a lot of areas throughout the country we have seen significant price drops but I don't believe that you will see them around here. Areas like Florida and Arizona have seen prices drop about 25% where we have only seen a reduction of, at most, 10%. Bucks and Montgomery counties have weathered the storm very nicely. For better deals you might want to go look in the Lehigh Valley. They have seen greater depreciation then the Philly suburbs.

In general, you usually can tell a local market by looking at the unemployment. For instance, the national unemployment is between 9 and 10 (not sure of the exact number). Bucks county is around 7%, Lehigh Valley is at 12 % and Philly is also above the national average. If you then compare the housing markets with those other areas you will see that the housing prices are dropping quickly in the areas with higher unemployment rates.

If you want more information about the various markets, please feel free to drop me a line.
Web Reference: http://www.KandJHomes.com
0 votes Thank Flag Link Mon Jan 3, 2011
That is a really vague question. Bucks County agents should be able to answer that only if they have more details.
0 votes Thank Flag Link Mon Jan 3, 2011
Dear East Coaster,
Real Estate prices differ in every area of Bucks County. For example, the average price of sold homes in New Britain Township in 2010 was $313,704 versus $303,550for the same period in 2009. Days on market were 87 in 2010 and 97 in 2009. These statistics tell me that the price of homes increased slsightly in 2010 and the day on market were less. The average price of sold homes just in Chalfonte Boro in 2010 was $309,848 versus $299,905 in 2009. Average days on market was 91 in 2010 for the Boro and 120 days in 2009. Both sets of data indicate that home prices are increasing and they were on the market for less time in 2010 versus the previous year. This data was procured from TREND MLS statistics!
So, if you are looking at buying or selling, from all indications, 2011 is going to be even a better year for Real Estate!

Frank Dolski MBA, ABR, e-PRO
Associate Broker
CARTUS Certified Relocation Specialist
Previews Luxury Home Specialist
Coldwell Banker Hearthside Realtors
215-803-3237 (mobile)
215-794-1070 x-103
Web Reference: http://www.frankdolski.com
0 votes Thank Flag Link Mon Jan 3, 2011
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