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March 2024 Market Statistics
March 2023 vs. March 2024 Real Estate Market Report
Hey there, fellow real estate enthusiasts! Today, let’s take a journey through time and explore the exciting changes that have occurred in the real estate market between March 2023 and March 2024. Buckle up, because there’s some fascinating stuff to discover!
Inventory: A Mixed Picture
Let’s start by talking about inventory. In March 2024, the movement rates in tracked markets reflected a mixed inventory picture year over year. In simpler terms, some rates improved, while most worsened. Although there were improvements in some areas, the overall trend showed a decline in inventory levels across most tracked markets.
Sold Units: A Dampened Monthly Result
In March 2024, numerous markets reported dampened monthly results year over year. Rates of decline worsened in most tracked markets, indicating a slowdown in the number of homes sold compared to the previous year.
Pending Contracts: Declining Picture
Comparing March 2024 with March 2023, most markets generally reflected a declining picture in pending contracts year over year. However, Montgomery County and the Greater Lehigh Valley Region stood out as exceptions to this trend. The rates of decline varied across markets, ranging from single to double digits.
Median Sold Pricing: Upward Trend
Despite the challenges, there was good news in March 2024. Tracked markets showed an upward trend in median sold pricing, although the range varied. This indicates that home prices were on the rise, providing a positive outlook for sellers.
YTD Unit Volume: A Worsening Trend
Unfortunately, all markets reported dampened results in year-to-date (YTD) unit volume, with a notable worsening in the rate of decline year over year as early as 2024 progressed. This trend indicates a slowdown in the overall real estate market activity compared to the previous year.
Sold Avg CDOM: Homes Selling More Quickly
One positive change observed in March 2024 was that homes were selling more quickly compared to March 2023. The average cumulative days on market (CDOM) decreased in most areas, indicating increased buyer activity and demand.
Sold/Opening List Price Ratios: Reflecting Buyer Demand
Market results in March 2024 correlated with fluctuating price increase trends and buyer demand. A few markets remained at near ~100%, comparing year over year pricing trends. This metric speaks to a generally declining seller pricing advantage in several markets.
What Does This Mean for You?
Whether you’re buying or selling, it’s essential to stay informed about market trends. While the real estate market experienced some challenges in March 2024, there were also positive changes, such as the upward trend in median sold pricing and the decrease in average CDOM.
For sellers, understanding these trends can help you price your home effectively and attract potential buyers. For buyers, being aware of market dynamics can help you make informed decisions and negotiate effectively.
Final Thoughts
The real estate market is constantly evolving, and understanding these changes is key to success. By comparing March 2023 with March 2024, we can see how the market has shifted over the past year and what that means for buyers and sellers alike.
Whether you’re buying, selling, or just curious about the market, I hope this comparison has provided some valuable insights. Until next time, happy house hunting!
Take a look at last month’s market report, here: https://cbhre.com/2024/03/15/february-2024-market-statistics
Check out more from CBHearthside here: https://linktr.ee/coldwellbankerhearthside
To look at our other blogs, visit: https://cbhre.com/blog
Are You Making These Design Mistakes?
Common Design Mistakes
The interior design world changes trends more than a fickle toddler changes their food preferences. One day a certain style is all the rage, and the next, it’s lost its flair. But throughout the years, several design choices have remained consistent, and if you’re not sticking to them, the odds are good your space feels a little off-kilter. Keep reading to see if you’re making these design mistakes in your home. (If you are; don’t worry. We’ll give you tips on how to fix them.)
1. Hanging Artwork Too High
If you need to bend your neck back to view artwork, it’s too high. Check the items that are hanging on your walls and do a quick test. Do you find yourself tilting your head back, even slightly, to view the piece? When artwork is too high on the walls, it throws off the balance of your whole space.
The Fix: Aim to hang artwork at eye level. But here’s the thing – eye level of an average person. If you’re 6’4”, hanging your artwork at your eye level won’t work. Instead, aim for the center of the piece to be 57 inches above the floor.
2. Placing All Your Furniture Against the Walls
It’s a common design mistake to place furniture against the walls in a room to leave a large open space in the middle. It seems like having this big open space would make the room feel bigger, right? Unfortunately, it’s the opposite. When you place all of the furniture around the perimeter of your room, it can make the room feel smaller.
The Fix: Pull some of your main pieces off of the walls and create zones in your space. For example, create a cozy seating area in the center of your room near the fireplace. When furniture isn’t shoved up against the wall, it creates the illusion of more space.
3. Using Rugs That Are Too Small
An area rug can be the perfect finishing touch in a space. But when it’s too small, it looks like an awkward, floating island in a sea of furniture. It distracts the eye and makes your overall room look smaller.
The Fix: Use rugs that are large enough to touch every furniture piece so it serves as an anchor. For example, if it’s in your living room seating area, the edge of the sofa and chairs should be on the rug.
4. Not Paying Attention to Lighting
Don’t make lighting an afterthought. When a space doesn’t have adequate lighting, it can throw off the whole vibe of the room. Often, a room has too little light. But you can also end up with a room that has too much light if there’s no way to dial it down or adjust it.
The Fix: Have several light sources in a room. A mixture of overhead and task lighting is ideal, along with ambient lighting where appropriate. Using dimmers helps create just the right amount of light when and where you need it. Plus, proper window treatments help control the natural light in the space.
5. Winging It with Paint Colors
Even if you have an amazing eye for color, selecting your paint from small paper swatches leads to regret. It’s just not quite the same as the actual paint. You could waste a lot of time, money, and effort painting a color that doesn’t ultimately work in your space.
The Fix: Use the swatches to narrow down your choices, then purchase small sample jars of your top colors. Paint the sample either directly on the wall or a white piece of poster board. If you use the Porter board method, you can move the sample around the room and under different lighting to see how it changes.
6. Designing with the Wrong Scale Furniture for the Space
Another design mistake people make is purchasing furniture for their space without measuring or considering the height. How a piece fits in a large showroom is very different from how it fits in your home. It might look perfect in a large space, but then you bring it home and it completely takes over your living room.
Alternatively, if you have a large space with high ceilings, furniture that’s too small can throw off the balance of the design. Choosing the right scale furniture is essential to the overall look of your design as well as how it functions. If you cram pieces in the space that are too large, it makes it feel cramped. People struggle to move around and the entire flow of the room gets off-kilter.
The Fix: Measure your available space and use painter’s tape to mark out what size pieces would work well. Let these lines be your guide for measurements. As a general rule, if it’s a small space, look for lower-profile pieces, and if you have grand ceilings, select a few taller items.
7. Getting Too Matchy-Matchy with Furniture
Furniture sets are a popular display in many showrooms, online ads, and more. But when you purchase a full set, it ends up looking a little too bland. Instead of standing out and showing your personality through your design, you simply look like everybody else who bought that same Rooms-To-Go special.
The Fix: Find pieces you love, but resist buying all the pieces in the set. Instead, fill in the gaps with unique finds from your favorite thrift shop or vintage boutique. Or maybe you love antiquing and find pieces that way. For example, you might buy a bed from a big furniture store, but then choose a fun dresser from the local flea market that you jazz up with your DIY skills.
8. Failing to Incorporate Ample Storage
No matter how great your space looks, if you cover it with clutter, it ends up looking awful. You can’t see the design, it doesn’t function well, and it can even stress you out. If you fail to work adequate storage into your design plan, you greatly increase the chances of adding clutter to your home.
The Fix: Be thoughtful about your space’s function when you plan the design and layout. Make sure to have places for items. If it’s a family room, this might mean a console with cabinets that hide away board games and toys. Or use a storage ottoman that doubles as a coffee table to hold extra blankets for movie night, etc.
Navigating Beyond Design Mistakes
Coldwell Banker Hearthside Wins 2024 Montco Happening: Best Real Estate Brokerage
Coldwell Banker Hearthside Wins 2024 Montgomery County’s Best Real Estate Brokerage for Montco Happening
Hey there, Montgomery County mavens! Can we just pause for a moment and revel in the virtual confetti for Coldwell Banker Hearthside? Because guess what? We’ve clinched the gold on the 2024 Montco Happening List for Montgomery County’s Best Real Estate Brokerage!
Our Traits
When it comes to real estate, it’s not just about transactions; it’s about transforming houses into homes and dreams into reality. And Coldwell Banker Hearthside? Well, we’re experts at that. We’ve been proudly helping our clients through their real estate journey with professionalism, passion, and a personalized touch.
Dedication
So, what makes us stand out? Yes, we have encyclopedic knowledge of the local market (which definitely helps), but it’s our unwavering dedication to our clients that truly sets us apart. Whether you’re diving into homeownership for the first time or you’re a pro, we’re here to listen, advise, and advocate for you, ensuring that your experience is not just successful, but genuinely enjoyable.
Teamwork
Let’s talk about our phenomenal team of agents. Seriously, these people are the heartbeat of Coldwell Banker Hearthside. They’re not just experts with real estate; they’re experts with people. With a diverse range of backgrounds, experiences, and personalities, our agents are united by one thing: a genuine passion for helping you find the perfect place to call home.
But hey, don’t just take my word for it. Our victory on the Montco Happening List speaks volumes. This is a testament to our tireless commitment to excellence and our deep-seated roots in the community we’re proud to serve.
So here’s to us – Coldwell Banker Hearthside! Thank you for trusting us with your real estate needs and allowing us to be an integral part of the Montgomery County community. Here’s to many more years of success, growth, and turning houses into homes. Cheers to us, and cheers to the journey ahead!
Check out the full Montco Happening 2024 Home: Real Estate Brokerage list: https://montco.happeningmag.com/happeninglist/2024-home-real-estate-brokerage/
Join our victory at Coldwell Banker Hearthside here: https://cbhre.com/careers
Neighborhood Spotlight: Fountainville, PA
Fountainville, PA: What to do; where to dine and shop; and what you don’t want to miss
Nestled in southeastern Pennsylvania is the small town of Fountainville, home to roughly 1,000 people. Fountainville is in Bucks County, near the point where Doylestown, Plumstead and New Britain Townships meet. It’s approximately one hour from Philadelphia and only 30 minutes from the New Jersey border.
The Vibe
The overall vibe of Fountainville is a peaceful small community with suburban charm. The proximity to Philadelphia gives visitors and residents easy access to city life while still enjoying the quiet of small-town living.
Where to Eat and Drink
If you want something tasty to eat while you’re in Fountainville, check out these local eateries.
Roman Delight of Fountainville — Roman Delight is a family-owned restaurant that’s popular with locals and visitors. It’s a great place to enjoy a delicious and relaxed meal with family and friends. Each item on the menu is made to order, whether you’re in the mood for spaghetti, seafood, or a pizza. Not hungry? Sip a beer or cocktail on the patio and order some food to go.
Casa Toro — Head to Casa Toro to tantalize your taste buds with Cuban cuisine and Mexican favorites like enchiladas, tamales, and burritos. The restaurant also showcases several specialty sauces to take your dish of choice to the next level. To help wash everything down, order a cocktail from the restaurant’s extensive drink menu.
Where to Shop
The Fountainville area showcases several local shops to satisfy your shopping needs.
Yolo Sportswear — Yolo Sportswear wants people to embrace the idea of “you only live once” and enjoy life. For over 25 years, this sportswear store has provided Fountainville with everything they need to show off their love of field hockey. They feature USA Field Hockey apparel, including socks, shirts, sweats, and more from top brands like Asics and Under Armour.
Gratz Gallery — This fine art gallery in historic Bucks County also acts as an art conservation studio that focuses on art restoration. It features a broad collection of 19th and 20th-century American paintings, highlighting works from artists of the New Hope School, Pennsylvania Academy of the Fine Arts, and the Philadelphia Ten.
Stout Christmas Trees — If you’re in Fountainville during Christmas time, make sure to stop by Stout’s. Of course, they have Christmas trees, but that’s not all. You can also find fresh wreaths, pine garlands, and other festive natural touches to adorn your home for the holiday season. Bring the kids to meet Santa and take pictures with him in his sleigh, or shop for other decorations, beautiful nutcrackers, and ornaments.
Three Things You Shouldn’t Miss in Fountainville
What should you do while you’re in Fountainville? Visit a local winery? Play some golf? You’ll find several ways to pass the time and enjoy yourself in this small Pennsylvania town.
Vivat Alfa Winery — The Adamek family started developing this family-owned winery in 2007 with the purchase of a 12-acre farm. After several years of planning, planting, and preparation, the winery opened in 2013. They feature an assortment of artisan-crafted wines, provide tasting opportunities (including free wine tastings every weekend), and have a friendly, devoted staff.
Four Seasons Golf Center — Add a little recreation and exercise into your visit to Fountainville with a bit of golf practice. Improve your swing on the driving range or take the kids for a round of mini-golf.
Peace Valley Nature Center — One thing that is certainly not in short supply in this area of Pennsylvania is beautiful scenery and opportunities to enjoy the great outdoors. The nearby Peace Valley Nature Center offers a living museum and educational activities and presentations. The center hosts events throughout the year, holds summer camps, and has several trails to explore.
Before heading to Fountainville, and the Bucks County area, take some time to plan your itinerary and maximize your time. Enjoy your visit!
Check out our full blog page, here: https://cbhre.com/blog
For more Neighborhood Spotlights, click here: https://cbhre.com/category/neighborhoodspotlight
Coldwell Banker Hearthside Wins 2024 Bucks Happening: Best Real Estate Brokerage
Coldwell Banker Hearthside (Newtown, PA) Wins 2024 Bucks County’s Best Real Estate Brokerage for Bucks Happening
Hey there, fellow Bucks County enthusiasts! Can we just take a moment to give a big virtual high-five for Coldwell Banker Hearthside? Because guess what? We’ve gone and clinched the top spot on the 2024 Bucks Happening List for Bucks County’s Best Real Estate Brokerage!
Now, when it comes to real estate, it’s not just about buying or selling a property; it’s about finding that perfect place to call home. And let me tell you, Coldwell Banker Hearthside gets that. We’ve been serving our community with dedication and expertise for years, helping folks find their dream homes and navigate the sometimes tricky waters of real estate.
But what sets us apart? Well, it’s not just our knowledge of the local market (though that’s definitely a big plus). It’s our commitment to our clients. Whether you’re a first-time homebuyer or a seasoned pro, we are there for you every step of the way, offering guidance, support, and a friendly face to make the journey as smooth as possible.
And let’s not forget about our stellar team of agents. Seriously, these folks are the cream of the crop, with years of experience under their belts and a passion for what they do that’s downright infectious. Whether you’re searching for that cozy cottage in the countryside or a sleek urban loft, we’ve got you covered, tailoring our approach to fit your unique needs and preferences.
But hey, don’t just take my word for it. The fact that Coldwell Banker Hearthside snagged the top spot on the Bucks Happening List speaks volumes. It’s a testament to our unwavering commitment to excellence and our deep roots in the community.
So here’s to us – Coldwell Banker Hearthside! Thank you for allowing us to be such an integral part of the Bucks County family and for letting us find you all a place to call home. Here’s to many more years of success and happy homeowners. Cheers!
Check out the full Bucks Happening 2024 Home: Real Estate Brokerage list: https://bucks.happeningmag.com/happeninglist/2024-home-real-estate-brokerage/
Want to be a part of Coldwell Banker Hearthside? Visit: https://cbhre.com/careers
Neighborhood Spotlight: Holland, PA
Holland, PA
Holland, PA, is in Northampton Township on the outskirts of the Philadelphia metro, with approximately 20,000 residents. Originally known as Rockville because of Mill Creek’s rocky cliffs, it was renamed Holland in 1870 after the original Dutch settlers in the 1600s. For most of the town’s existence, it featured mainly farmland, but in the 1970s, there was a significant increase in building, leading to the construction of tract housing.
The Vibe in Holland, PA
The vibe of Holland is that of a suburban community with plenty of history and beautiful countryside. The area boasts ample opportunities for entertainment thanks to its proximity to Philadelphia. You’ll also find several things to do in the heart of Holland.
Where to Eat and Drink
You’ll find several places in and around Holland to enjoy a deliciously satisfying meal no matter what you’re craving. Various eateries offer an assortment of cuisine sure to appeal to many.
Aldo’s Ristorante Italiano – Ask locals about Aldo’s, and many will tell you it’s one of the best places for Italian food in Northampton Township. The menu features pasta dishes, pizza, salads, Italian classics, and more.
Flourish Cafe – Flourish Cafe is the creative brainchild of a baker and a florist. Enjoy homemade, delicious baked goodies and delectable cuisine as you take in the beauty of the fresh flowers and greenery surrounding you. This charming establishment also sells floral arrangements, so you can bring a little bit of the beauty home with you.
El Barrio Cantina and Tequila Bar – Grab a drink, it doesn’t have to be tequila, and kick back with friends at this neighborhood favorite. The Tex-Mex menu boasts a mouthwatering assortment of choices, and the service is friendly and inviting. It’s a great place to unwind and enjoy good food and company.
Wong’s Garden – his casual eatery offers tasty Chinese fare with favorites like sesame chicken, beef lo mein, and egg foo young. Try a combination platter or one of the house specials, or share a few appetizers with friends. The restaurant shifted to take-out only for a while throughout the COVID pandemic; therefore, call ahead to ask about their latest protocols.
Where to Shop
Whether you need to buy a gift, want to treat yourself, or just want to browse, check out these local businesses to fit a little shopping into your day in Holland, PA.
Bucks County Roses – Take some time to smell the roses, literally, at this local flower shop. They’re the go-to spot for custom bouquets and arrangements to celebrate any occasion.
J Robinson Outdoors – Preparing for an upcoming camping trip? Need some equipment for your next sporting event? Or maybe you want to get supplies to start a new outdoor hobby. Whatever you’re looking for, if it’s about the great outdoors, this is the place to be.
Three Things You Shouldn’t Miss in Holland, PA
SEPTA Site, Village Shires Station – Holland, PA, still showcases a lot of its history, and one of the landmarks is the old train station. Although it’s been out of commission since 2000, it has maintained its position as an important historical feature in the community. So much so that there are rumors about potential plans to restore the commuter rail.
Langhorne Rod and Gun Club — This gun club is one of Pennsylvania’s best and hosts a wide variety of events throughout the year. Some of the activities include fishing, archery, clay shooting, and rifle and pistol events. The club also offers hunter training and other educational opportunities.
Churchville Nature Center – Not too far from Holland is the Churchville Nature Center. It’s a relaxing place to visit and explore nature. The center also features educational opportunities, aiming to enrich and enhance visitors’ knowledge and experiences of the local wildlife and environment.
Learn more about Northampton Township and how you can make the most of your visit. Happy exploring!
To see our other Neighborhood Spotlights, check out: https://cbhre.com/category/neighborhoodspotlight
Search for homes in this area click here: https://cbhre.com/search/holland-pa
Check out our office that is closest to Holland, PA here: https://cbhre.com/directory/offices/regional-sales-center
Discover Broadview Farm
Broadview Farm
Welcome to the cozy corner of Buckingham Township, where time seems to stand still and history whispers through the trees. Nestled amidst 10.9 acres of pure enchantment, Broadview Farm beckons you to embark on a journey through its storied past and tranquil present.
Let’s Take a Stroll Through Broadview: Where Every Nook Tells a Tale
Step into 4522 New Hope Road, Furlong, PA, dating back to circa 1730. Prepare to be enchanted! With its main house, icehouse, pool, pool house, and barn-turned-mini-village, Broadview Farm is a living, breathing testament to bygone eras and timeless charm. It’s like stepping into a storybook where every page holds a new adventure.
Step Right In: Where Time Stops and Comfort Begins
Cross the threshold into the farmhouse, and you’ll feel like you’ve stepped back in time—in the best possible way! Original features blend seamlessly with modern comforts, creating a space that’s as inviting as it is nostalgic. The kitchen, with its crackling fireplace, beckons you to gather ’round for tales and treats. And the living room’s wood-burning fireplace? Pure coziness awaits!
Upstairs, Anyone? Your Own Personal Sanctuary Awaits
Venture upstairs to discover three bedrooms that are more than just places to rest your head—they’re havens of tranquility. Wood floors, sunlight streaming in through the windows, and yes, more wood-burning fireplaces because why should downstairs have all the fun? Plus, the ensuite bath is like a spa retreat without the hefty price tag. And don’t forget the third floor, boasting two additional bedrooms and a cozy lounge area.
Let’s Play Outside: Where Every Corner Is a Photo Op
Outside, the magic continues! Stone walls, iron railings, and lush greenery set the scene for your very own fairytale. Whether you’re lounging by the pool, firing up the grill in the pool house, or simply wandering amidst nature’s splendor, every moment outdoors is a moment to cherish—and capture for your Instagram feed!
Life Beyond the Farm: Where Convenience Meets Charm
And let’s not forget about the perks of living in Bucks County! Easy access to major commuter routes ensures you’re never far from the action. Plus, with award-winning schools nearby, you can rest assured that your little ones will receive the education they deserve while growing up in this idyllic setting.
Ready to Write Your Own Story at Broadview Farm?
So what are you waiting for, fellow adventurer? Broadview Farm isn’t just a house—it’s a lifestyle waiting to be embraced. Schedule your private showing today, and let’s embark on this enchanting journey together. Who knows what adventures await us amidst the charm of Broadview Farm? Let’s find out!
Check out this full listing here: https://cbhre.com/listing/PA/Furlong/4522-New-Hope-Road-18925/188002725
Contact the listing agent, Mary Lou Erk, Coldwell Banker Hearthside, here: https://cbhre.com/directory/agents/mary-lou-erk
Take a look at our other blogs here: https://cbhre.com/blog
Neighborhood Spotlight: Revere, PA
What to do; where to dine and shop; and what you don’t want to miss
Discover the essence of Revere, nestled in the heart of Nockamixon Township near the Pennsylvania-New Jersey border. With its roots dating back to 1782, this Bucks County gem is a haven for those seeking a serene escape just an hour and a half from Philadelphia. Explore what this charming town has to offer, from culinary delights to unique shopping experiences and unforgettable adventures.
The Vibe
Revere radiates a cozy, small-town feel that celebrates family, nature, and life’s little pleasures. Dive into a community that treasures outdoor adventures and the beauty of everyday life. Whether you’re in search of relaxation or excitement, Revere offers the perfect getaway.
Where to Eat and Drink
Satisfy your cravings at these local eateries:
The Narrows Restaurant and Bar — Guests enjoy beautiful views of the Delaware River as they dine at the Narrows, located in a historic 1812 building. Try the Narrows Burger, complete with house-made pickles, tomato jam, cheddar, and applewood bacon. Or how about some sweet potato tacos or shrimp & grits? They offer brunch, lunch, and dinner menus and creative cocktails to complement your meal.
Pizza Bella Italian Restaurant — Grab a slice of cheesy goodness with a piece of pizza from this nearby Ottsville restaurant. Enjoy creative pizzas, Italian cuisine, pasta dishes, and more. The eatery also offers gluten-free and vegan options, making it an excellent pick for a variety of dietary needs.
Fieldstone Coffee Roasters — This café uses local and organic ingredients as much as possible in their dishes. Choose to sit at the bar, dine in, or enjoy patio seating on a pleasant day. You can also purchase coffee beans and loose-leaf teas to bring home some of your favorite flavors.
Where to Shop
Uncover hidden treasures and delightful treats at these local shops:
Plants on the Sill — Find a rare plant, select a beautiful floral arrangement as a gift, or shop for a unique treasure to treat yourself with. The friendly and knowledgeable staff are eager to answer your questions, help you find the perfect items, and teach you how to best care for your flowers and plants.
Owowcow Creamery — This local creamery creates yummy ice cream from local ingredients, making fresh ice cream from scratch. Get a classic vanilla or try something a little more unique, like honey lavender or blueberry lemon.
Three Things You Shouldn’t Miss
Make the most of your visit to Revere with these must-see attractions:
Colonial Woods Family Camping Resort — Bring the kids to this nearby campground for plenty of outdoor fun, including fishing, a heated pool, and a spray park. They also have mini-golf, basketball, volleyball, and much more. Take part in special activities like hayrides, arts and crafts, or outdoor movies. Check out their website to start planning the perfect stay and book your campsite.
Top Rock Park — (165 Top Rock Trail, Quakertown, PA 18951) This park lives up to its name, featuring lots of rocks as you blaze the trail. Climb rocks, enjoy nature, and hike to the top for a sense of accomplishment. Look for the blue arrows or painted markers to help guide you in the right direction.
Palisades Community Bible Church — If you’re looking for a way to bring a bigger sense of community into your life, visit this local church. They offer various group activities, including Ladies’ Bible Study, Men’s Fellowship, and Young Adult Bible Study. Join a session, attend a service, or listen to an audio sermon.
Experience the best of Revere, where every moment is a celebration of life’s simple pleasures. From savory meals to scenic vistas, this charming town invites you to savor the beauty of each day. Plan your visit today and embark on a journey to Revere’s enchanting world of hospitality and charm.
Learn more about Revere, PA, and Nockamixon Township to make the most of your visit. Enjoy exploring!
Check out our Neighborhood Spotlights, here:https://cbhre.com/category/neighborhoodspotlight
Visit our previous blogs,here: https://cbhre.com/blog
To learn more about Coldwell Banker Hearthside, visit: https://cbhre.com/who-we-are
February 2024 Market Statistics
Real Estate Market: February 2023 VS February 2024
Hey there, fellow real estate enthusiasts! Welcome back to our monthly get-together where we dissect the latest happenings in the ever-dynamic world of real estate. Today, we’re diving headfirst into February’s market report, unpacking all the juicy details and uncovering what this means for buyers, sellers, and investors alike. So, grab your favorite beverage, settle in, and let’s embark on this journey together!
Inventory Movement:
Let’s kick things off with a glimpse into the pulse of inventory movement. The good news? Market rates of movement are painting a promising picture. What does this mean exactly? Well, it boils down to this: the rates of decline have lessened, and in some cases, we’re even witnessing inventory growth. It’s like a ray of sunshine breaking through the clouds, signaling a positive shift in the real estate landscape. Take Bucks, Mercer, and Berks counties, for example – they’re leading the charge with notable improvements in this department.
Sold Units:
Now, onto sold units. While February saw numerous markets reporting dampened monthly results, there’s still reason to keep the faith. Sure, the rates of decline vary, but amidst the flux, there’s room for optimism. From Bucks to Mercer, Montco to NEPHL, each market is charting its unique course, showcasing the diverse dynamics at play.
Pending Contracts:
Ah, pending contracts – the tantalizing glimpse into future transactions. Here’s the scoop: most markets are reflecting an improving picture year over year. Whether it’s Bucks with a slight decline or Montco with a significant uptick, the overall trend is positive. It’s like watching the gears of progress slowly but surely turn towards brighter horizons.
Pricing Trends:
Now, let’s talk numbers – pricing trends, to be exact. February brought with it a mixed bag of results, with most tracked markets experiencing moderate price increases. From Bucks to Mercer, NEPHL to Chester, each market is carving out its unique path in response to supply and demand dynamics.
Year-to-Date Unit Volume:
As we delve deeper into the year-to-date unit volume, we’re met with a mixed bag of results. While most markets are reporting dampened figures, there’s a notable improvement in the rate of decline year over year. It’s like witnessing a phoenix rise from the ashes – a testament to the resilience of the real estate market.
Sold Days on Market:
Homes are flying off the shelves at a faster pace in most markets, indicating decreased selling time year over year. This marks a significant shift from what we observed throughout 2023, highlighting the evolving nature of buyer behavior and market dynamics.
Sold/Opening List Price Ratios:
Last but not least, let’s discuss sold/opening list price ratios. This metric provides insights into the fluctuating price increase trend and buyer demand. From Bucks to GLVR, each market’s results correlate with its unique pricing dynamics, signaling a shift in seller pricing advantage.
In conclusion, February’s market report paints a nuanced picture of the real estate landscape. While challenges remain, there’s a sense of cautious optimism in the air. From improving inventory movement to resilient pricing trends, each data point offers valuable insights for navigating today’s market with confidence. So, here’s to staying informed, staying adaptable, and seizing those opportunities as they arise. Until next time, happy house hunting (or selling)!
Take a look at last month’s market report, here: https://cbhre.com/2024/02/20/january-2024-market-statistics
Check out more from CBHearthside here: https://linktr.ee/coldwellbankerhearthside
To look at our other blogs, visit: https://cbhre.com/blog
Neighborhood Spotlight: Richboro, PA
What to do; where to dine and shop; and what you don’t want to miss
Richboro, Pennsylvania is in Northampton Township and has a population of roughly 6,300. The area is home to Hampton Hill, Twin Trees Farm, John Thompson House, and Willow Mill Complex — all listed on the National Register of Historic Places. In 1830, Richard “Rich” L. Thomas became the first postmaster, and the village’s name changed to Richborough, eventually shortened to Richboro.
The Vibe
The overall vibe of Richboro is a quiet, family-oriented community with a suburban feel. It lies only 45 minutes from Philadelphia and a quick 20 minutes from the New Jersey border. This proximity to larger, urban areas makes it a breeze for residents and visitors to enjoy a touch of city life when they want while still enjoying the simpler side of things.
Where to Eat and Drink
Check out these local restaurants when you’re ready to grab a bite to eat in Richboro, PA.
59 Almshouse — This local restaurant’s showpiece is a wood-burning grill that allows chefs to create mouthwatering dishes with tasty things like swordfish and steak. Eat in the dining room or grab a seat at one of the bars (one indoor, one outdoor). You’ll enjoy a delightful and extensive selection of cocktails and beers at 59 Almshouse.
UVA Ristorante Italiano — This restaurant gives off a sophisticated, urban ambiance that elevates your dining experience. Select from a broad menu of authentic Italian cuisine and BYOB to enjoy your meal.
The Irish Horne — This locally-owned eatery prides itself on creating dishes from scratch using locally sourced ingredients. The inviting atmosphere is family-friendly, welcoming everyone and inviting them to enjoy a delicious meal. They also feature 20 beers on tap that guests enjoy as they kick back and watch the big game.
Pallantes Italian Deli — This old-school deli specializes in tomato pies, tasty homemade hoagies, and friendly service. Stop in for a bite or order food for an upcoming event.
Where to Shop
There’s always time to shop when you’re on a trip or exploring a new town. Visit these local boutiques and stores to find a special gift or trendy outfit.
Fireside Flowers and Gifts — When you need to show someone you’re thinking of them, what better way than a beautiful bouquet or unique gift? This florist shop offers gorgeous floral arrangements, fruit baskets, candles, and other gift items. They also provide consultations for special events to help you choose the best look for your special day.
House of Bridal — This bridal shop is an extension of the Dress Up Time team that has served the area for over 25 years. Let their helpful staff assist you with everything you need to make your wedding day look good, from the bridal party to the bride and groom and beyond.
Pennies from Heaven Consignment Boutique — Find upscale women’s clothing at a budget-friendly price with a visit to this charming consignment shop. Whether you are looking for something casual or a formal dress for a special event, the store boasts a varied selection of apparel.
The Hanger Boutique — This cute boutique offers the latest trends in women’s clo
thing, jewelry, and other accessories. Whether you need a new outfit for a special occasion or just want to update your look, the selection and staff are ready to help you find the best pieces.
Three Things You Shouldn’t Miss
Between enjoying a delicious meal and a riveting shopping spree, save time for these stand-out attractions in and near Richboro, Pennsylvania.
Northampton Recreation Center — Find a bunch of activities, both indoor and outdoor, by visiting the Northampton Recreation Department. There are classes, and access to parks, fields, sports courts, pools, and more. Find out what’s happening when you’re in the area and see if you can squeeze in a class or simply kick back at a local park for a picnic.
Churchville Nature Center — This education-based facility aims to teach visitors about the environment and how to care for it. It is a 65-acre nature preserve, founded in 1964, offering hiking trails, gardens, and an exhibit gallery. They also offer numerous workshops and classes throughout the year, camps, and programs for all ages.
Tyler Park Center for the Arts — Young and old, amateurs and experts, every artist or aspiring creator is welcome at the Tyler Park Center for the Arts. The establishment offers various workshops to encourage people to channel their artistic side. Examples include pottery, jewelry making, summer camps, and sewing workshops.
Discover more about Richboro and Northampton Township to find all the different ways to pass the time during your visit to the area. Happy exploring!
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