More 55+ coming to Bucks County?
News flash! Inventory is low! As I am sure you have heard, inventory is very low in our area. The demand for homes for sale is high. The same goes for 55+ communities. There is a high demand for 55+, yet so little come on the market. The market for 55+ communities has skyrocketed over the past 3 years especially. Many communities see 1 home every 6 months to 1 year come on the market. Then those homes sell within a day with multiple offers. Many of our local 55+ communities are increasing in age. As the homes grow older so do the homes systems and interior amenities. Most 55+ buyers today want the home to be up to date. Buyer's generally do not want to move and have to update a home. They want move in condition.
So many buyers turn to new construction homes because then they can have the home built to their needs and wants. 55+ builders recognize this trend. Yet, land in our area is at a premium. So where do you build? We are running out of space. McGrath has seen a great response to the new 55+ community they are building - St. Josephs Court. It is a more affordable new construction 55+ community in Falls Township. In response to the great response they are seeking out new land and have proposed a new building site for a new 55+ at a long forgotten, Church owned parcel once used as a landfill. For more details see more in this article the Courier Times put out earlier this week:
Carol Swain. A senior real estate specialist with 25+ years of experience in the real estate industry.