Bob's Market Update September 2010

b

AGENT BRIEFING NOTES SINGLE FAMILY HOMES – PRINCIPAL MARKETS – LOWER/CENTRAL BUCKS COUNTY

Market Facts as of SEPTEMBER YTD 2010 _______________________________________

Source: COLDWELL BANKER HEARTHSIDE REALTORS MARKET RESEARCH from TREND MLS Data

• These Notes principally relate to the September (Sep) YTD 2010 results and trends. Where helpful to better understand trends, we will also comment on the current month.

• As of Sep YTD 2010, the Volume of Sold/Closed Units remained positive, though at a reduced pace, y/o/y (year over year) in a number (10 of 18) of tracked markets, and Bucks county-wide. Repeating a post-tax credit trend, the county-wide YTD growth rate while somewhat positive at 2.4% (it was 5.2% Aug YTD), was again dampened due to lower current (Sep) month closings, likely reflecting the expiring tax credit situation. A majority of tracked Markets reflected a lower month and a resulting lower YTD position. Individual Market Average Sold Price data for nine months YTD continues to form the baseline of a solid, credible trend. That said, pricing was positive in 12 of 18 tracked Markets and Bucks county-wide. Where applicable, suggest you reference our updated Multi-Year (2000-2009) Appreciation Chart as a benchmark – then link to the YTD Price movement for guidance. Total Bucks County Aug YTD Average Sold Prices were positive: ↑4.7%, while Sep YTD unit volume of 3,622 Sold Units is ↑2.4% versus prior year. As 3,622 Sold Units is a “statistically significant” number, it’s interesting to note that, at least County-wide, we still have both Unit Volume and Pricing positive y/o/y. Interestingly, YTD Bucks price momentum actually improved sequentially to Sep @ 4.7%, versus Aug @ 3.5%. Recap: while the pace of unit sales continues to moderate as we move forward in a market without tax credit stimulus, prices are not necessarily dampening.

• The best “forwarding looking” indicator we have in real estate is: Pending/Pipeline Sales. Likely reflecting the expiring Tax Credit, Pending Sales for the month of Sep 2010 in Bucks County were down about 39% versus Sep 2009, and down 18% sequentially from Aug 2010. Of our tracked markets, just 3 of 18 reported higher y/o/y Pendings (all in central/upper Bucks).

• Inventory of homes for sale as of Sep 2010 is up slightly sequentially from Aug 2010 County-wide as

we enter the Fall Market. Compared with Sep 2009, inventory unit levels are up County-wide and mixed (9↑ - 9↓) in all 18 tracked markets. In terms of Months in Inventory only 1 of 18 tracked markets are exhibiting “near balanced” conditions: Newtown (7.0 months) – however, a number of markets reflect lower Months in Inventory y/o/y due to increased Unit Sales. Again, while most markets remain in or close to “Buyers Market” inventory territory, a number have improved (i.e., lower months in inventory) year over year. Bucks County-wide there is an 11.6 Month Inventory (up slightly from the Sep 2009 Inventory of 11.1 Months). Avg. DOM remains somewhat higher year over year in total Bucks County, while individual markets are mixed. Bottom Line: some markets are reflecting lower DOM, first time we are seeing this trend change in several years.

• Avg. List prices of homes in Inventory as of Sep 2010 in all Bucks County are down -4.5% vs. Sep 2009. Our tracked markets are mirroring the down trend, with 10 of 18 displaying a downward pricing trend, the balance upward. Check individual market detail before quoting specifics for Buyers or Sellers. The shifting inventory pricing trends generally correlates to improving Unit Sales volumes. Expect these individual market inventory trends to continue as Sellers continue to adjust prices and Sales volumes react as a result.

• Sold/List Ratios in most markets show continued “discounts”. N.B., we are continuing to track an emerging trend: the degree of the discount spread is narrowing (~2 % points) in several markets – need to keep an eye on this metric – expect it to continue to narrow as prices increase. Overall, most Buyers currently achieving approx ~7-8 % discount from List Price in our principal markets. Note, this “discount” is measured by TREND from the Opening List Price of the current listing contract.

Per Year Appreciation SF Homes (ex Condos) Higher Volume MarketsSource: COLDWELL BANKER HEARTHSIDE REALTORS MARKET RESEARCH from MLS data

L. Makefield Twp Newtown Twp Northampton Twp Buckingham TwpApprec Units Apprec Units Apprec Units Apprec Units

2009 Avg$ $462 $386 $389 $5012009 -6.7% 255 -3.7% 224 -9.9% 287 -16.1% 1742008 3.1% 251 -2.4% 231 -2.3% 278 -2.9% 2042007 -6.4% 379 -0.1% 260 -3.3% 351 1.7% 2522006 3.6% 355 10.9% 299 8.2% 376 5.2% 2572005 11.6% 432 6.9% 354 8.9% 437 10.4% 3292004 10.4% 465 12.0% 360 10.7% 457 10.6% 2882003 11.7% 465 11.9% 344 5.5% 410 5.4% 2792002 9.8% 427 14.5% 285 14.6% 398 15.2% 2592001 13.5% 453 5.7% 321 15.3% 409 17.9% 239

2000 Avg$ $288 445 $229 307 $249 377 $329 279

Doylestown Twp Falls Twp Middletown Twp Bristol TwpApprec Units Apprec Units Apprec Units Apprec Units

2009 Avg$ $414 $232 $288 $1792009 -8.2% 135 -5.9% 215 -5.3% 323 -7.6% 5012008 -0.2% 114 -6.4% 202 -7.9% 309 -8.4% 4902007 -5.9% 168 2.5% 284 0.4% 347 -0.1% 5612006 1.8% 178 1.4% 282 7.5% 407 5.9% 5932005 14.9% 189 13.6% 280 10.0% 427 15.9% 7382004 10.2% 198 20.8% 304 11.8% 467 11.3% 7112003 5.8% 184 12.5% 269 11.7% 406 18.1% 6292002 21.2% 182 13.3% 279 11.9% 397 13.9% 5892001 9.1% 164 7.3% 237 12.5% 366 5.8% 601

2000 Avg$ $266 175 $135 266 $176 369 $109 539

Bucks County Bensalem Twp Morrisville BoroApprec Units Apprec Units Apprec Units

2009 Avg$ $329 $257 $1862009 -6.8% 4812 -5.7% 319 -10.9% 1002008 -6.7% 4806 -2.1% 363 -8.1% 742007 0.6% 6048 -2.9% 398 1.4% 1032006 4.1% 6408 9.5% 433 0.7% 1332005 11.6% 7454 15.9% 506 18.6% 1442004 13.1% 7470 11.8% 459 19.1% 1592003 10.0% 6893 12.4% 446 9.7% 1442002 15.6% 6429 17.9% 431 12.8% 1162001 7.5% 6364 15.8% 446 4.9% 138

2000 Avg$ $209 6275 $132 488 $121 123

Appreciation measured by Change in Sold Average Price year over yearMLS Stats are not held beyond 2000 base year2000 Avg$ displays Base Year Average Price for the Indicated Market2009 Avg$ displays Average Price for the Indicated Market

BUCKINGHAM SOLD SF HOMES (ex Condos) Source: Coldwell Banker Hearthside Realtors Market Research from TREND MLS Data

35

40

45

20

25

30

UN

ITS

10

15

JAN FEB MAR APR MAY JUNE JULY AUG SEP OCT NOV DEC2010 13 3 16 14 22 34 29 19 152009 9 5 8 13 12 17 24 22 17 16 19 11

0

5

2009 9 5 8 13 12 17 24 22 17 16 19 112008 7 15 12 8 17 27 24 28 23 20 9 132007 10 12 16 27 21 35 29 35 21 19 11 162006 21 15 13 25 21 37 28 42 14 21 10 10

UNITS SOLD each MONTH

f

BUCKINGHAM TOWNSHIP SINGLE FAMILY HOMES

Market Facts as of SEPTEMBER YTD 2010 ______________


Inventory of homes for sale in Sep 2010 was 249 Inventory of homes for sale in Aug 2010 was 251

Inventory of homes for sale in Sep 2009 was 250 Unit Inventory is near flat, down 0.4% year over year,

And down 2 homes sequentially from Aug 2010

Avg. price of a home for sale in Sep 2010 was $738k Avg. price of a home for sale in Sep 2009 was $773k List prices of homes in inventory are down 4.5%, the avg. price stat

is impacted by # of unsold homes priced $1-2 million, ~$162k difference between Avg. Sold versus Avg. Inventory Price

128 homes sold as of Sep 2009 at 91% of list price 166 homes sold as of Sep 2010 at 92% of list price

Unit Sales volume is up 29.7% year over year, contrasted with Full Year 2009 Unit Sales which were down 14.7%

Buyers achieving approx 8% avg. discount from List Price Summary: Inventory levels are down slightly and YTD sales volume is up noticeably. The Average Sold Price for the Full Year 2006 was up 5.2%, Full Year 2007 was a more modest 1.7% increase, Full Year 2008 Prices reflected a 2.9% decrease, Full Year 2009 reflected a 16.1% Price decrease, YTD 2010 trend indicates a 15.6% increase (likely driven by increased sales of higher priced homes). Buyers continue to achieve “discount” leverage in negotiation – though the spread is narrowing (1% point) versus last year. At current sales pace there is a 14.1 Month Supply of Homes in Inventory, a clear “Buyers Market”. Note that a Market is viewed as “Balanced” between Buyers & Sellers, with 6 Months Inventory.

What does this mean to a Seller? There is a 14+ Month Supply of homes on the market, generally for longer periods of time, so the competition remains challenging. Average Days on Market is 102 versus 97 last year. During 2009, most (85%) of the homes sold closed at prices under $650k. Currently, 18% of the homes (45/249) on the market are priced above $1 million, this represents an 5.6 Year Supply at current sales pace (0.6/month). It is more important now than ever to price your home right and market aggressively. Be realistic and remember the current market is what determines the price of your home.

f

DOYLESTOWN TOWNSHIP SINGLE FAMILY HOMES




Inventory of homes for sale in Sep 2009 was 116 Unit Inventory is up 15.5% year over year,

And up 2 homes sequentially from Aug 2010

Avg. price of a home for sale in Sep 2010 was $536k Avg. price of a home for sale in Sep 2009 was $543k List prices of homes in inventory are down 1.2%

93 homes sold as of Sep YTD 2009 at 91% of list price 107 homes sold as of Sep YTD 2010 at 91% of list price

Unit Sales volume is up 15.1% year over year, contrasted with Full Year 2009 Unit Sales which were up 18.4%

Buyers achieving approx 9% avg. discount from List Price

Summary: Inventory levels are up and YTD unit sales volume is quite positive. Average Sold Prices for the Full Year 2007 were down 5.9%, Full Year 2008 Average Sold Prices were near flat at a 0.2% decrease and 2009 reflected an 8.2% Price decrease, YTD 2010 trend indicates a modest 1.3% increase. Buyers continue to achieve “discount” leverage in negotiation, at a consistent spread versus last year. At current sales pace there is a 10.8 Month Supply of Homes in Inventory. Note that a Market is viewed as “Balanced” between Buyers/Sellers, with 6 Months of Homes in Inventory.

What does this mean to a Seller?

There is a near 11 Month Supply of homes on the market, generally for longer periods of time, so the competition remains challenging. Average Days on Market is 96 days versus 90 last year. It is more important now than ever to price your home right and market aggressively. Be realistic and remember the current market is what determines the price of your home.

FALLS TOWNSHIP SOLD SF HOMES (ex Condos) Source: Coldwell Banker Hearthside Realtors Market Research from TREND MLS Data

30

35

40

20

25

UN

ITS

5

10

15


0

5

2009 12 12 22 19 16 34 20 13 18 15 21 132008 15 13 16 18 13 24 17 25 14 21 10 162007 18 12 26 26 32 34 35 25 23 16 20 162006 15 8 27 27 27 31 35 36 20 19 20 17


f

FALLS TOWNSHIP SINGLE FAMILY HOMES





And up 1 home sequentially from Aug 2010

Avg. price of a home for sale in Sep 2010 was $254k Avg. price of a home for sale in Sep 2009 was $248k

List prices of homes in inventory are up 2.3%


Unit Sales volume is down 5.4% year over year, versus Full Year 2009 Unit Sales which were down 6.4%, 2008 was down 28.9%


Summary: Inventory levels are up substantially and YTD sales volume is slightly negative. The Average Sold Price for the full year 2006 was a 1.4% increase, 2007 Sold pricing was a 2.5% increase, 2008 reflected a 6.4% decrease, 2009 reflected a 6% decrease, while Sep YTD 2010 reflects a 1.1% Price increase. Buyers achieving continuing “discount” leverage through negotiation. Market conditions are somewhat above “balanced” with 8.0 Months of Homes in Inventory (versus 5.4 Months last year), reflecting the higher unit inventory. Note that a Market is viewed as “Balanced” between Buyers & Sellers with ~6 Months Inventory.


There is an 8 Month Supply of homes on the market, current Average Days on Market is 56 days. It is more important now than ever to price your home right and market aggressively. You may not have enjoyed the per year appreciation in 2006-2009 versus the double digit appreciation experienced during most of the prior 3-4 years. Be realistic and remember the current market is what determines the price of your home.

JAN FEB MAR APR MAY JUNE JULY AUG SEP OCT NOV DEC2010 15 11 22 27 29 57 24 38 262009 14 8 12 14 18 31 34 36 24 23 25 152008 21 12 14 18 23 39 30 31 23 19 7 142007 18 22 28 25 23 46 56 37 30 35 31 282006 30 18 25 26 30 49 40 30 31 21 17 38

0

10

20

30

40

50

60

UN

ITS


LOWER MAKEFIELD SOLD SF HOMES (ex Condos) Source: Coldwell Banker Hearthside Realtors Market Research from TREND MLS Data

2010 2009 2008 2007 2006

b

LOWER MAKEFIELD TOWNSHIP SINGLE FAMILY HOMES




Inventory of homes for sale in Sep 2009 was 219 Unit Inventory is down 4.1% year over year,

And down 12 homes (5.4%) sequentially from Aug 2010


List prices of homes in inventory up 4%




Summary: For trend-line reference, Full Year 07 Unit Growth was 6.5%, Full Year 08 Sales recorded a lower (-33.5%) result, Full Year 09 turned modestly positive at 1.6%, while YTD 2010 is +32.5%. Inventory is at a 7.9 Month supply of homes. The Average Sold Price for the Full Year 2006 was a modest 3.6% increase, Full Year 2007 reflected a 6.4% decrease, Full Year 2008 recorded a 3.1% increase and Full Year 09 reflected a 6.7% Price decrease, YTD 2010 trend indicates a 9.0% decrease. Buyers are achieving “discount” leverage in negotiation – though the spread is narrowing (2% points) versus last year. Market conditions are considered above “Balanced”, favoring the Buyer, with 7.9 Months of Homes in Inventory (Note: a Market is considered “balanced” with 6 Months Inventory).

What does this mean to a Seller? There is a near 8 Month Supply of homes on the market, generally, for noteworthy periods of time (Average Days on Market are now 75) so competition remains challenging. It is more important now than ever to price your home right and market aggressively. You may not have enjoyed the per year appreciation in 2006-2009 versus the ~10+% experienced during the prior 4-5 years. Be realistic and remember the current market is what determines the price of your home.

MARKET STATISTICS for PRINCIPAL MARKETS($ in 1,000s)SINGLE FAMILY (ex Condos) YEAR-TO-DATE SEPTEMBER 2010 versus 2009

2010 Source: COLDWELL BANKER HEARTHSIDE REALTORS MARKET RESEARCH from TREND MLS DATAPrior Full Yr YTD YTD 12 Mo Prior See Notes

Sold Sold Price Avg Full Yr YTD Yr over Yr % Change INVENTORY belowAvg Price Avg Price Change % DOM Sold/List Sales $ (k) Units Units Sales $ % Unit % Units Change Months Avg Price Change

2009 2010 2009 2010LMT $462 $423 -9.0% 75 93% $107,052 255 253 20.5% 32.5% 210 -4.1% 7.9 $527 4.0%Morrisville $186 $175 -3.9% 108 90% $7,352 100 42 -42.4% -40.0% 89 11.3% 14.8 $211 -1.3%Newtown $386 $381 -3.2% 49 95% $63,550 224 167 -4.3% -1.2% 129 -1.5% 7.0 $472 0.7%UMT $762 $868 9.9% 132 90% $67,708 72 78 55.9% 41.8% 150 14.5% 18.9 $1,169 -7.5%Solebury $788 $625 -25.5% 118 90% $51,899 93 83 -1.8% 31.7% 162 -4.7% 17.2 $1,348 18.9%Buckingham $501 $576 15.6% 102 92% $95,564 174 166 50.0% 29.7% 249 -0.4% 14.1 $738 -4.5%Northampton $389 $402 1.7% 65 93% $100,557 287 250 13.0% 11.1% 243 -5.8% 9.3 $504 -6.0%Doylestown $414 $415 1.3% 96 91% $44,435 135 107 16.5% 15.1% 134 15.5% 10.8 $536 -1.2%Bucks Cty $329 $347 4.7% 87 92% $1,258,607 4812 3622 7.2% 2.4% 4751 6.8% 11.6 $469 -4.5%

20092008 Full Yr 2009 2008 2009

LMT $495 $465 81 91% $88,839 251 191 219 10.3 $507Morrisville $209 $182 78 90% $12,754 74 70 80 9.6 $214Newtown $401 $393 62 93% $66,420 231 169 131 7.0 $469UMT $791 $790 111 87% $43,424 71 55 131 21.8 $1,263Solebury $763 $839 127 87% $52,859 78 63 170 21.9 $1,134Buckingham $597 $498 97 91% $63,727 204 128 250 17.2 $773Northampton $432 $396 83 92% $89,024 278 225 258 10.8 $536Doylestown $451 $410 90 91% $38,138 114 93 116 10.3 $543Bucks Cty $353 $332 85 92% $1,173,658 4806 3536 4450 11.1 $491

Absorption Methods:2010 Uses Rolling 12 MoAverage Unit Sales2009 Uses Full Year Sales

MARKET STATISTICS for SELECTED MARKETS in LOWER & UPPER BUCKSSINGLE FAMILY (ex Condos) YEAR-TO-DATE SEPTEMBER 2010 versus 2009

2010 Source: COLDWELL BANKER HEARTHSIDE REALTORS MARKET RESEARCH from TREND MLS Data($ in 1,000s) Prior Full Yr YTD YTD 12 Mo Prior

Sold Sold Price Avg Full Yr YTD Yr over Yr % Change INVENTORY See notes belowAvg Price Avg Price Change % DOM Sold/List Sales $ (k) Units Units Sales $ % Unit % Units Change Months Avg Price Change

2009 2010 2009 2010UPPER BUCKSPlumstead $385 $396 2.1% 106 92% $32,505 97 82 6.0% 3.8% 140 13.8% 16.8 $647 0.2%N Hope Boro $456 $606 35.1% 191 91% $14,552 23 24 62.2% 20.0% 38 -13.6% 16.9 $616 -12.5%Doyle Boro $357 $389 15.3% 107 92% $17,119 72 44 3.5% -10.2% 56 -23.3% 10.0 $619 7.3%Bedminster $388 $353 -9.9% 94 92% $19,430 48 55 54.9% 71.9% 102 -15.7% 17.2 $513 -3.2%Tinicum $553 $476 2.9% 143 88% $9,989 27 21 2.9% 0.0% 63 3.3% 28.0 $930 17.7%Springfield $400 $379 -16.9% 95 89% $7,576 34 20 -20.9% -4.8% 80 -4.8% 29.1 $596 -3.7%Wrightstown $580 $855 41.4% 109 91% $17,097 30 20 17.8% -16.7% 55 19.6% 25.4 $872 5.6%LOWER BUCKSMiddletown $288 $309 4.6% 80 93% $73,475 323 238 6.8% 2.1% 258 6.6% 9.4 $342 -3.5%L.Southamp $267 $265 0.2% 69 92% $23,825 133 90 -5.0% -5.3% 124 12.7% 11.6 $301 -1.0%Falls $232 $238 1.1% 56 94% $37,646 215 158 -4.4% -5.4% 137 42.7% 8.0 $254 2.3%Bucks Cty $329 $347 4.7% 87 92% $1,258,607 4812 3622 7.2% 2.4% 4751 6.8% 11.6 $469 -4.5%

20092008 Full Yr 2009 2008 2009

UPPER BUCKSPlumstead $420 $388 93 91% $30,661 102 79 123 15.2 $646N Hope Boro $620 $449 115 90% $8,974 19 20 44 23.0 $704Doyle Boro $455 $337 86 89% $16,533 71 49 73 12.2 $577Bedminster $436 $392 97 91% $12,541 52 32 121 30.3 $530Tinicum $566 $462 187 80% $9,706 28 21 61 27.1 $791Springfield $523 $456 115 89% $9,578 29 21 84 29.6 $618Wrightstown $564 $605 122 89% $14,509 21 24 46 18.4 $825LOWER BUCKSMiddletown $304 $295 74 93% $68,772 309 233 242 9.0 $354L.Southamp $273 $264 78 92% $25,086 131 95 110 9.9 $304Falls $247 $236 70 94% $39,373 202 167 96 5.4 $248Bucks Cty $353 $332 85 92% $1,173,658 4806 3536 4450 11.1 $491

Absorption Methods: 2010 Rolling 12 Mo Avg Units 2009 Uses Full Year Sales

MIDDLETOWN TOWNSHIP SOLD SF HOMES (ex Condos) Source: Coldwell Banker Hearthside Realtors Market Research from TREND MLS Data

50

60

30

40

UN

ITS

10

20


0

2009 12 13 18 23 21 36 42 38 27 28 40 212008 20 18 23 34 17 34 44 29 26 30 23 102007 21 30 28 28 27 52 37 37 23 24 22 172006 22 25 35 29 38 42 51 46 25 36 30 27


b

MIDDLETOWN TOWNSHIP SINGLE FAMILY HOMES





And up 11 homes (4.5%) sequentially from Aug 2010


List prices of homes in inventory down 3.5%


Unit Sales volume is up 2.1% year over year, versus Full Year 2009 Unit Sales which were up 4.5%, 2008 was down 11% Buyers achieving approx 7% avg. discount from List Price

Summary: Inventory is up and YTD sales volume is moderately up. The Average Sold Price for the Full Year 2006 reflected a 7.5% increase, Full Year 2007 was near flat at a 0.4% increase, 2008 reflected a decrease of 7.9%, 2009 reflected a 5.3% Price decrease, while Sep YTD reflects a 4.6% increase. Buyers achieving similar discount leverage year over year, and the Market is considered a “Buyers Market” with 9.4 Months of Homes in Inventory. Note that Market conditions are considered “Balanced” with 6 Months of Homes in Inventory.


There is a 9+ Month Supply of homes on the market, generally for longer periods of time, so the competition remains challenging. Average Days on Market is 80 versus 74 days last year. It is more important now than ever to price your home right and market aggressively. You may not have enjoyed the per year appreciation in 2006-2009 versus the double-digit appreciation experienced during the prior 3-4 years. Be realistic and remember the current market is what determines the price of your home.

b

MORRISVILLE BORO SINGLE FAMILY HOMES

Market Facts as of SEPTEMBER YTD 2010 _____________






List prices of homes in inventory near flat, down 1.3%


Unit Sales volume is down 40% year over year, contrasted with Full Year 2009 Unit Sales which were up 35.1%

Buyers achieved approx 10% avg. discount from List Price

Summary: Inventory levels are up and YTD sales volume is noticeably down. For trend reference: the Average Sold Price for 2007 was a modest 1.3% increase, 2008 Sold Average Prices reflected a 9.3% decrease, with 2009 reflecting a 10.9% Price decrease, YTD 2010 trend indicates a 3.9% decrease. Buyers are achieving “discount” leverage in negotiation – at a consistent spread with last year. The Market remains a “Buyers Market”, with 14.8 months of Homes in Inventory. Note that a Market is viewed as “Balanced” with approx 6 Months Inventory.


There is a near 15 Month Supply of homes on the market, generally for longer periods of time (Average Days on Market is 108 versus 78 last year), so the competition remains challenging. It is more important now than ever to price your home right and market aggressively. Be realistic and remember the current market is what determines the price of your home.

f

NEWTOWN TOWNSHIP SINGLE FAMILY HOMES




Inventory of homes for sale in Sep 2009 was 131 Unit Inventory is near flat, down 1.5% year over year, And down 8 homes (6%) sequentially from Aug 2010


List prices of homes in inventory are near flat, up 0.7%


Unit Sales volume is near flat, down 1.2% year over year, contrasted with Full Year 2009 Unit Sales which were down 3%


Summary: Inventory levels are slightly down as is sales volume. The Average Sold Price for the full year 2006 was a 10.9% increase, 2007 pricing was near flat at -0.1%, Full year 2008 Average Sold Prices reflected a 2.4% decrease and 2009 reflected a 3.7% Price decrease, YTD 2010 trend indicates a 3.2% decrease. Buyers still achieving “discount” leverage in negotiation – though the spread is narrowing (2% points) versus last year. Market conditions are near balanced with 7.0 Months of Homes in Inventory. Note that a Market is viewed as “Balanced” between Buyers & Sellers with ~6 Months Inventory.

What does this mean to a Seller? There is a 7 Month Supply of homes on the market, generally taking about 49 Average Days on Market to sell, so the competitive conditions are relatively challenging. It is more important now than ever to price your home right and market aggressively. You may not have enjoyed the per year appreciation in 2007-2009 versus the ~10% experienced during most of the prior 3-4 years. Be realistic and remember the current market is what determines the price of your home.


0

5

10

15

20

25

30

35

40

45

UN

ITS


NEWTOWN TWP SOLD SF HOMES (ex Condos) Source: Coldwell Banker Hearthside Realtors Market Research from TREND MLS Data

2010 2009 2008 2007 2006


0

10

20

30

40

50

60

UN

ITS


NORTHAMPTON SOLD SF HOMES (ex Condos) Source: Coldwell Banker Hearthside Realtors Market Research from TREND MLS Data

2010 2009 2008 2007 2006

b

NORTHAMPTON TOWNSHIP SINGLE FAMILY HOMES




Inventory of homes for sale in Sep 2009 was 258 Unit Inventory is down 5.8% year over year,



List prices of homes in inventory are down 6.0%




Summary: Inventory is up and YTD unit sales volume is moderately up. The Average Sold Price for the Full Year 2006 was up a reasonable 8.4%, Full Year 2007 reflected a decrease of 3.3%, 2008 Sold Average Prices recorded a 2.3% decrease, while 2009 Prices reflected a 9.9% decrease, YTD 2010 trend indicates a 1.7% increase. Buyers are continuing to achieve discount leverage in negotiation – though the spread is narrowing (1% points) versus last year. The Market is still considered a “Buyers Market” with 9.3 Months of Homes in Inventory. Note, that Market conditions are considered “Balanced” with 6 Months of Homes in Inventory.


There is a 9+ Month Supply of homes on the market, generally for long periods of time, so the competition remains challenging. Average Days on Market is 65 days. It is more important now than ever to price your home right and market aggressively. Be realistic and remember the current market is what determines the price of your home.

SINb

SOLEBURY TOWNSHIP SINGLE FAMILY HOMES

Market Facts as of SEPTEMBER YTD 2010 _________________________________________________________________________________________________________ _______ __

Source: COLDWELL BANKER HEARTHSIDE REALTORS MARKET RESEARCH from TREND MLS Data Inventory of homes for sale in Sep 2010 was 162 Inventory of homes for sale in Aug 2010 was 174 Inventory of homes for sale in Sep 2009 was 170

Inventory is down 4.7% year over year, And down 12 homes (7%) sequentially from Aug 2010

Avg. price of a home for sale in Sep 2010 - $1.35 million Avg. price of a home for sale in Sep 2009 - $1.13 million List prices in inventory are up 18.9%, the avg. price stat is impacted by # of homes priced in $1-5 million, review specific property CMA

for pricing direction & Median/Average Prices


Unit Sales volume up 31.7% year over year, contrasted with Full Year 2009 Unit Sales which were up 19.2%

Buyers achieving approx 10% discount from List Price

Summary: Inventory levels are up slightly and YTD Unit Sales are up substantially. At current Sales pace, there is a 17.2 Month Supply of Homes in Inventory. Buyers continue to achieve significant discount leverage in negotiation – though the spread is narrowing (3% points) versus last year. Market is viewed as a clear “Buyers Market”. Note that a Market is viewed as “Balanced” with 6 Months of Homes in Inventory.

What does this mean to a seller? There is a substantial inventory of homes on the market (particularly in $1-3 million range), generally for longer periods of time, so the competition is challenging. Average Days on Market is 118 (all price levels). During 2009, most (83%) of the homes sold closed at prices under $999k. Currently, 37.7% of the homes (61 of 162) on the market are priced above $1 million, and this represents a 61 Month Supply at current sales pace (1.0 per month). It is more important now than ever to price your home right and market aggressively. You may not have enjoyed the positive per year appreciation in 2007, 2008, 2009 that was experienced during the past few years. Be realistic and remember the current market is what determines the price of your home.

b

UPPER MAKEFIELD TOWNSHIP SINGLE FAMILY HOMES

Market Facts as of SEPTEMBER YTD 2010 Source: COLDWELL BANKER HEARTHSIDE REALTORS MARKET RESEARCH from TREND MLS Data

Inventory of homes for sale in Sep 2010 was 150 Inventory of homes for sale in Aug 2010 was 146 Inventory of homes for sale in Sep 2009 was 131

Inventory is up 14.5% year over year, And up 4 homes sequentially from Aug 2010

Avg. price of a home for sale in Sep 2010 - $1.17 million Avg. price of a home for sale in Sep 2009 - $1.26 million List prices in inventory are down 7.5%, the avg. price stat is driven

by # of homes priced in $1-3+ million, review specific property CMA for pricing direction & check Median/Average Prices



Buyers achieving approx 10% discount from List Price

Summary: Inventory levels are up and YTD Unit Sales are up noticeably. Notably, at current Sales pace there is an 18.9 Month Supply of Homes in Inventory, versus 21.8 Months last year. Buyers are still achieving “discount” leverage in negotiation – though the spread is narrowing (3% points) versus last year. Market is viewed as a clear “Buyers Market”. Note that a Market is viewed as “Balanced” with 6 Months of Inventory.

What does this mean to a seller? There is a substantial inventory of homes on the market (particularly in $1-3 million range), generally for longer periods of time, so the competition is challenging. Average Days on Market is 132 (all price levels). During 2009, most (82%) of the homes sold closed at prices under $999k. Currently, 45.3% of the homes (68 of 150) on the market are priced above $1 million, and this represents a 34 Month Supply at current sales pace (2.0 per month). It is more important now than ever to price your home right and market aggressively. You may not have enjoyed the positive per year appreciation in 2007/2008 that was experienced during the past few years. Be realistic and remember the current market is what determines the price of your home.

Documents

Bob's Market Update September 2010