The Long & Foster Market Minute

Focus On: Buckingham and New Hope Housing Market March 2021

Zip Code(s): 18902, 18938, 18913, 18928, 18933, 18931 and 18912
Units Sold
Active Inventory
Median Sale Price
Days On Market
Vs. Year Ago
Down -57%
Vs. Year Ago
Up 23%
Vs. Year Ago
Down -42%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in March, with 35 sold this month in Buckingham and New Hope Real Estate. This month's total units sold was lower than at this time last year, a decrease from March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 102 units or 57%. The total number of active inventory this March was 76 compared to 178 in March 2020. This month's total of 76 is higher than the previous month's total supply of available inventory of 74, an increase of 3%.

Median Sale Price
Last March, the median sale price for Buckingham and New Hope Homes was $540,000. This March, the median sale price was $665,000, an increase of 23% or $125,000 compared to last year. The current median sold price is 16% lower than in February.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
Up 21%
Vs. Year Ago
Up 61%
Vs. Year Ago
Up 2.2%
Vs. Year Ago
Down -46%
Vs. Year Ago

Months of Supply
In March, there was 2.2 months of supply available in Buckingham and New Hope, compared to 4.0 in March 2020. That is a decrease of 46% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 82 homes newly listed for sale in Buckingham and New Hope compared to 68 in March 2020, an increase of 21%. There were 71 current contracts pending sale this March compared to 44 a year ago. The number of current contracts is 61% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Buckingham and New Hope was 96.6% of the average list price, which is 2.1% higher than at this time last year.

Days on Market
This month, the average number of days on market was 53, lower than the average last year, which was 92, a decrease of 42%.

The Long & Foster Market Minute Buckingham and New Hope are defined as properties listed in zip code/s 18902, 18938, 18913, 18928, 18933, 18931 and 18912.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.