70 West Afton Avenue
Yardley PA 19067

May 2008 data for our primary markets served (Lower Makefield, Upper Makefield and Newtown Townships in Pennsylvania) showed continued strength even in the face of ever increasing negative national news.  Taken as a whole the three markets are down a fraction of a percent versus 2007 with Lower Makefield (plus 11.5%) and Upper Makefield (plus 3.5%) in positive territory while Newtown Township shows a slight decline of 3.5%.  Units sold in Newtown Township are steady with 2007 figures while Lower Makefield (down 24%) and Upper Makefield (down 47%).  Inventories in Lower Makefield are down 17% while Upper Makefield (+14%) and Newtown (+19%) are up.

Lower Makefield is showing particular strength with increased prices and decreased inventory, even in the face of slower sales.  This market has been trending this was for the entire year and seems to be leading the way forward, particularly in the $450,000 to $800,000 range.  The higher priced range seems still affected by the vastly tightened Jumbo Mortgage lending market (much of the reason for the data in newtown and, especially Upper Makefield) - although signs of loosening have been appearing.  Also of note is that the lower end of the market has very little in the way of either sales or inventory.  It appears that there is a reluctance, likely brought upon by a barrage of bad news in the press, for these "trade-up" buyers to market their homes.  Our suspicion is that this market will again open up causing more demand for the $450-$800 price range and adding increased stability and activity to the marketplace.

For Bucks County, as a whole, prices were down a modest 3.3% even in the face of a 20% decline in sales. Inventories were up 5% and list prices are up 1.5%. It is clear that, while the market has lost some of it's steam from previous years, the gloom and doom presented in the national marketplace has not come to our area.

Sellers - now more than ever it is IMPERATIVE to price well, market aggressively and hire the finest, most qualified representation. In short, if you're not working with an experienced agent like me at a great agency like Coldwell Banker Hearthside, you're doing yourself a tremendous disservice. Well priced, well marketed homes are selling while others languish.  The days of "Passive Real Estate" are behind us, Active, aggressive agents like myself are a must in this marketplace.  If you have one, you become one of the beneficiaries of increased prices, if you don't you become a part of the increased inventory.

Buyers - This market will be won by well informed, well represented Buyers and Sellers. The age of the part time Realtor is over. If you have "a friend of a friend", this is NOT the time to get to know each other. I work with local Buyers and those relocating from all areas of the country. Call me today to discuss your discuss your Real Estate needs.