Below is a short video highlighting the current real estate conditions and activity in Richboro, PA.
Welcome to August’s market update. Let’s take a look at residential real estate activity in Richboro during the month of July.
The number of active listings was down 8% from one year earlier and down 8% 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 $620,000. Compared to last year the average number of days that units spent on the market before being sold was down 2%. This lower number of days may signal a positive trend in the local inventory turnover rate. The median sale price was just under $430,000. The number of units sold increased 50% year-over-year and increased 50% 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 me for more information or further assistance.