Below is a short video highlighting the current real estate conditions and activity in Richboro, PA.
Welcome to June’s market update. Let’s take a look at residential real estate activity in Richboro during the month of May.
The number of active listings was down 24% from one year earlier and up 38% from the previous month. This recent increase reflected a larger selection of homes for buyers to choose from. As you can see the median listing price for the month was just over $560,000. Compared to last year the average number of days that unit spent on the market before being sold was up 47%. This higher number of days may signal a slowdown in the local inventory turnover rate. The median sale price was just over $490,000. The number of units sold increased 64% year-over-year and increased more than 300% month-over-month. These figures may indicate that buyers have been taking advantage of opportunities in this market.
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.