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 June’s market update. Let’s take a look at residential real estate activity in Newtown during the month of May.
The number of active listings was down 31% from one year earlier and down 3% 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 over $800,000. Compared to last year the average number of days that units spend on the market before being sold was up 34%. This higher number of days may signal a slowdown in the local inventory turnover rate. The median sale price was just under $420,000. The number of units sold increased 35% year-over-year, and held steady month-over-month. These latest figures are encouraging news for both buyers and sellers indicating a positive trend in the marketplace.
We hope you use this information to make smart, informed decisions in your upcoming real estate transaction. Feel free to contact us for more information or further assistance.