‘A seller’s market on steroids’

Nathan Law

The real estate market in Bucks County is experiencing an unprecedented boom in recent months due to a perfect storm of plummeting interest rates and low inventory. The question is, can this boom last or is a bust in the offing? “It is definitely a seller’s market on steroids,” said Joy Zwicker, manager […]

The real estate market in Bucks County is experiencing an unprecedented boom in recent months due to a perfect storm of plummeting interest rates and low inventory.

The question is, can this boom last or is a bust in the offing?

“It is definitely a seller’s market on steroids,” said Joy Zwicker, manager of Berkshire Hathaway HomeServices Fox & Roach Realtors’ Southampton office. “The actual cost is so difficult in this market to come up with because the sale price and the actual end price is growing further and further apart. Low inventory and lower interest rates means people can buy more house, even though they are paying more.

“They are paying more, but getting even more house.”

In late December, 35% of suburban homes sold above list price in the Northeast, according to Zillow economists.

New homes are under construction along Red Cedar Drive in Bristol Township, on Thursday, Feb. 4, 2021.

Data from the Bucks County Association of Realtors indicate just about every month-to-month real estate metric is on is on the rise. The latest dataset available is for March:

  • New listings: up 59.9% compared to February
  • New pendings: up 56.7%
  • Closed sales: up 44.5%
  • Median sold price: up 3.4%

The median sold price in Bucks County is $367,000, compared to the median price listed at $355,000 in February and $335,000 in March 2020.

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