The Long & Foster Market Minute

Focus On: Bucks County Housing Market October 2022

Units Sold
521
Active Inventory
679
Median Sale Price
$440,000
Days On Market
20
Down -33%
Vs. Year Ago
Down -10%
Vs. Year Ago
Up 10%
Vs. Year Ago
No Change
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 521 sold this month in Bucks County Real Estate versus 638 last month, a decrease of 18%. This month's total units sold was lower than at this time last year, a decrease of 33% versus October 2021.

Active Inventory
Versus last year, the total number of homes available this month is lower by 78 units or 10%. The total number of active inventory this October was 679 compared to 757 in October 2021. This month's total of 679 is lower than the previous month's total supply of available inventory of 751, a decrease of 10%.

Median Sale Price
Last October, the median sale price for Bucks County Homes was $399,900. This October, the median sale price was $440,000, an increase of 10% or $40,100 compared to last year. The current median sold price is 4% lower than in September.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
533
Current Contracts
488
Sold Vs. List Price
100.1%
Months of Supply
1.3
Down -27%
Vs. Year Ago
Down -32%
Vs. Year Ago
No Change
Vs. Year Ago
Up 34%
Vs. Year Ago

Months of Supply
In October, there was 1.3 months of supply available in Bucks County, compared to 1.0 in October 2021. That is an increase of 34% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 533 homes newly listed for sale in Bucks County compared to 731 in October 2021, a decrease of 27%. There were 488 current contracts pending sale this October compared to 719 a year ago. The number of current contracts is 32% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Bucks County was 100.1% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 20, which is similar compared to a year ago.

The Long & Foster Market Minute
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.