We saw an increase in the Months Supply of Inventory from our November numbers of 14.7 months supply of inventory. As of December, we currently have 16.2 months supply of inventory of single family homes, an increase of 76% over two years.
What does this mean to Sellers in Bucks County?
Well, what it doesn't mean is that you'll never be able to sell your home in this market. Homes sell every day, and not all of them are distressed, well-under-market, deal-of-the-century sales. There are plenty of people selling their homes at market value, and moving forward with their lives in a reasonable amount of time.
It does mean that you need to know what you're doing in this market. I'll repeat some advice I gave in November when I presented the October 2008 Months Supply of Inventory:
In order: get it staged, price it right, market the hell out of it.
Want to talk some more, or see the statistics for your local municipality? Shoot me an email, and I'll send it right out to you.