Is Cheltenham Township, 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, Cheltenham Township has remained a Seller's Market.
Housing Prices in Cheltenham Township, PA
How much do homes in Cheltenham Township, PA cost?
Median Sold Price
$399,000
$187/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Cheltenham Township was $399,000 in May 2024, up 7.2% from last year, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $99K | $117.5K | +18.7% |
2 Bedrooms | $260K | $205K | -21.2% |
3 Bedrooms | $346.5K | $370K | +6.8% |
4 Bedrooms | $420K | $465K | +10.7% |
5+ Bedrooms | $523K | $499K | -4.6% |
Summary: Cheltenham Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.7%, 2 bedroom homes decreased by 21.2%, 3 bedroom homes increased by 6.8%, 4 bedroom homes increased by 10.7%, and 5+ bedroom homes decreased by 4.6%.
Median Sold Price Compared To Nearby Cities
Cheltenham Township | $372.3K | $399K | +7.2% |
Abington Township | $391.3K | $415K | +6.1% |
Springfield Township | $450K | $475K | +5.6% |
Jenkintown | $449K | $456.7K | +1.7% |
Philadelphia | $264K | $258K | -2.3% |
Housing Supply in Cheltenham Township, PA
How many homes are available in Cheltenham Township, PA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
124 | 130 | +4.8% |
Summary: The Cheltenham Township real estate market had 130 homes for sale in May 2024, a 4.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 2 | -33.3% |
2 Bedrooms | 15 | 16 | +6.7% |
3 Bedrooms | 38 | 48 | +26.3% |
4 Bedrooms | 37 | 38 | +2.7% |
5+ Bedrooms | 31 | 26 | -16.1% |
Summary: The Cheltenham Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 26.3%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes decreased by 16.1%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
28 | 28 | 0.0% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 28 homes were sold or pending in Cheltenham Township in May 2024, the same as the previous month. Of the 28 sold homes, 36% were sold under asking, 25% were sold at asking, and 39% were sold over asking.
Days on Market for Cheltenham Township, PA
How long does it take to sell a home in Cheltenham Township, PA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
24 Days | 23 Days | -4.9% |
Summary: Homes in Cheltenham Township had an average of 23 days on market in May 2024, down by 4.9% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 28 homes were sold in Cheltenham Township; 75% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.