The Long & Foster Market Minute

Focus On: Quakertown, Perkasie, and Northern Bucks County Housing Market March 2021

Zip Code(s): 18951, 18944, 18947, 18942, 18972, 18930, 18077, 18920, 18081, 18949, 18921, 18950, 18910 and 18953
Units Sold
117
Active Inventory
112
Median Sale Price
$382,000
Days On Market
27
Down -3%
Vs. Year Ago
Down -59%
Vs. Year Ago
Up 32%
Vs. Year Ago
Down -52%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 117 sold this month in Quakertown, Perkasie, and Northern Bucks County Real Estate. This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 160 units or 59%. The total number of active inventory this March was 112 compared to 272 in March 2020. This month's total of 112 is lower than the previous month's total supply of available inventory of 124, a decrease of 10%.

Median Sale Price
Last March, the median sale price for Quakertown, Perkasie, and Northern Bucks County Homes was $289,990. This March, the median sale price was $382,000, an increase of $92,010 compared to last year. The current median sold price is higher 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
149
Current Contracts
135
Sold Vs. List Price
99.6%
Months of Supply
1.0
Up 3%
Vs. Year Ago
Up 36%
Vs. Year Ago
Up 2.8%
Vs. Year Ago
Down -57%
Vs. Year Ago

Months of Supply
In March, there was 1.0 months of supply available in Quakertown, Perkasie, and Northern Bucks County, compared to 2.2 in March 2020. That is a decrease of 57% 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 149 homes newly listed for sale in Quakertown, Perkasie, and Northern Bucks County compared to 144 in March 2020, an increase of 3%. There were 135 current contracts pending sale this March compared to 99 a year ago. The number of current contracts is 36% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Quakertown, Perkasie, and Northern Bucks County was 99.6% of the average list price, which is 2.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 27, lower than the average last year, which was 56, a decrease of 52%.

The Long & Foster Market Minute Quakertown, Perkasie, and Northern Bucks County are defined as properties listed in zip code/s 18951, 18944, 18947, 18942, 18972, 18930, 18077, 18920, 18081, 18949, 18921, 18950, 18910 and 18953.
*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.