Is Bensalem, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Bensalem has remained a Seller's Market.
Key Takeaway
Bensalem is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Bensalem, PA
How much do homes in Bensalem, PA cost?
Median Sold Price
$386,583
$229/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Bensalem have sold for 3.1% more than they did a year ago.
Summary: The median home sold price in Bensalem was $386,583 in May 2024, up 3.1% from last year, and the median price per square foot was $229.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $310K | $317.5K | +2.4% |
| 2 Bedrooms | $281K | $350K | +24.6% |
| 3 Bedrooms | $362K | $365K | +0.8% |
| 4 Bedrooms | $506K | $499.9K | -1.2% |
| 5+ Bedrooms | $601K | $570K | -5.2% |
Summary: Bensalem housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.4%, 2 bedroom homes increased by 24.6%, 3 bedroom homes increased by 0.8%, 4 bedroom homes decreased by 1.2%, and 5+ bedroom homes decreased by 5.2%.
Median Sold Price Compared To Nearby Cities
| Beverly | $245K | $296K | +20.8% |
| Delanco Township | $302.2K | $333.7K | +10.4% |
| Bensalem Township | $379K | $395K | +4.2% |
| Bensalem | $375K | $386.5K | +3.1% |
Housing Supply in Bensalem, PA
How many homes are available in Bensalem, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 96 | 108 | +12.5% |
Summary: The Bensalem real estate market had 108 homes for sale in May 2024, a 12.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 13 | 16 | +23.1% |
| 3 Bedrooms | 46 | 54 | +17.4% |
| 4 Bedrooms | 29 | 32 | +10.3% |
| 5+ Bedrooms | 8 | 6 | -25.0% |
Summary: The Bensalem housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 23.1%, 3 bedroom homes increased by 17.4%, 4 bedroom homes increased by 10.3%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 27 | 26 | -3.7% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bensalem, you could pay more than the asking price. 46.2% of homes here sold above asking price last month.
Summary: A total of 26 homes were sold or pending in Bensalem in May 2024, down by 3.7% month-over-month. Of the 26 sold homes, 35% were sold under asking, 19% were sold at asking, and 46% were sold over asking.
Days on Market for Bensalem, PA
How long does it take to sell a home in Bensalem, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 18 Days | 11 Days | -39.8% |
Summary: Homes in Bensalem had an average of 11 days on market in May 2024, down by 39.8% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Bensalem are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 26 homes were sold in Bensalem; 92% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
