Is Cornwall, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Cornwall was a Seller's Market.
Key Takeaway
Cornwall is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Cornwall, PA
How much do homes in Cornwall, PA cost?
Median Sold Price
$416,514
$185/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Cornwall have sold for 15.2% more than they did a year ago.
Summary: The median home sold price in Cornwall was $416,514 in May 2024, up 15.2% from last year, and the median price per square foot was $185.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $240K | N/A |
| 2 Bedrooms | $265K | $281.2K | +6.1% |
| 3 Bedrooms | $346K | $418.2K | +20.9% |
| 4 Bedrooms | $485K | $423K | -12.8% |
| 5+ Bedrooms | $550K | $653K | +18.7% |
Summary: Cornwall housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.1%, 3 bedroom homes increased by 20.9%, 4 bedroom homes decreased by 12.8%, and 5+ bedroom homes increased by 18.7%.
Median Sold Price Compared To Nearby Cities
| Cornwall | $361.5K | $416.5K | +15.2% |
| Penn Township | $307.9K | $340K | +10.4% |
| West Cornwall Township | $299.4K | $321.2K | +7.3% |
| South Lebanon Township | $280K | $288K | +2.9% |
| North Cornwall Township | $300K | $280.9K | -6.4% |
Housing Supply in Cornwall, PA
How many homes are available in Cornwall, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 38 | 44 | +15.8% |
Summary: The Cornwall real estate market had 44 homes for sale in May 2024, a 15.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 11 | 16 | +45.5% |
| 3 Bedrooms | 17 | 18 | +5.9% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Cornwall housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 45.5%, 3 bedroom homes increased by 5.9%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 6 | 6 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
4 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Cornwall, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.
Summary: A total of 6 homes were sold or pending in Cornwall in May 2024, the same as the previous month. Of the 6 sold homes, 17% were sold under asking, 67% were sold at asking, and 17% were sold over asking.
Days on Market for Cornwall, PA
How long does it take to sell a home in Cornwall, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 11 Days | 17 Days | +53.6% |
Summary: Homes in Cornwall had an average of 17 days on market in May 2024, up by 53.6% compared to last year.
Breakdown of Home Sale Times
4 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 Cornwall are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 6 homes were sold in Cornwall; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
