The Central Bucks Real Estate Market Is Hot, Agents Say

Good news for homeowners in the Central Bucks School District: The real estate market is hot.

Local real estate agents tell Patch new data indicates the local real estate market is strong on many levels — inventory is tight, prices are going up and homes are not staying on the market long.

The market has been very tight on inventory, which is driving up prices, said Heather Oberhau with Berkshire Hathaway Fox & Roach. She notes homes are often selling in a few days with multiple offers.

It's good news for sellers, but can be trickier for buyers, who must be aggressive, have their financing in place, and be ready to write an offer in order to be competitive, Oberhau said. Many buyers are just waiting for houses to come on the market, she noted.

"With the economic and housing recovery, we've seen an opening of floodgates of people who had put their moves on hold until pricing recovered or they had more economic stability," said Oberhau.

According to recent data, the average sale price in the Central Bucks School District went up by more than 5 percent from 2016 to 2017. In 2017, the average local home sold for $422,648, compared to $401,654 in 2016.

On average, homes are taking 55 days to sell, about 16 days less than they did in 2016.

And in many cases, the homes are selling for — or more than — the listing price:

Click here to visit the Doylestown Patch real estate page to view local listings.

PHOTO:2968 Valley View Dr, Doylestown, via Realtor.com