It’s always sunny in Newtown with its quaint downtown, highly rated school system and Tyler State Park (with hiking, biking and horseback riding trails, kayak rentals and a well-maintained disc golf course). Below is a short video highlighting the current real estate conditions and activity in Newtown, PA.
Welcome to February’s market update. Let’s take a look at residential real estate activity in Newtown, PA during the month of January.
The number of active listings was down 30% from one year earlier and down 12% from the previous month. This smaller inventory means that buyers who waited to buy may have had a smaller selection to choose from. As you can see the median listing price for the month was just under $800,000. Compared to last year the average number of days that units spent on the market before being sold was down 27%. This lower number of days may signal a positive trend in the local inventory turnover rate. The median sale price was just under $620,000. The number of units sold decreased 36% year-over-year and decreased 46% month-over-month. Fewer sales could indicate an opportunity for buyers to negotiate better terms.
We hope you use this information to make smart, informed decisions in your upcoming real estate transaction. Feel free to contact me for more information or further assistance.