Bucks County Housing Market: A Mix of Good News For Buyers, Sellers

DOYLESTOWN, PA — The Bucks County housing market is showing some interesting changes, according to the Bucks County Association of Realtors.

Here's a breakdown of what's happening in the local market, according to the BCAR:

Home Prices: The median price of homes sold in October was $470,000. This is slightly lower than last month but still five percent higher than October 2023.

Speed of Sales: Homes are selling faster than usual, taking an average of 22 days to find a buyer. This is even quicker than the typical October market.

Buyer Demand: There are still more buyers than sellers, but the number of new contracts signed in October dipped slightly compared to last month.

Available Homes: The number of homes on the market also decreased slightly in October.

What This Means for You: Buyers: You might have a bit more negotiating power compared to the past year, and homes are selling quickly, so be prepared to act fast if you find one you love. Sellers: While there's still strong demand, the market is becoming a little more balanced. Pricing your home competitively and working with a realtor can help you get the best offer.

The Bottom Line: The Bucks County market remains favorable for sellers, but there are signs of a gradual shift toward a more balanced environment, according to Bucks County Association of Realtors President Stephanie Garomon.

“This data reflects the dynamic nature of our local market," said Garomon. "While sellers continue to benefit from strong demand, buyers are beginning to see more opportunities.”

For more information, visit the Bucks County Association of Realtors website at www.bucksrealtor.com to connect with a local Realtor or learn more about the housing market.