Is Ephrata 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, Ephrata Township has remained a Seller's Market.
Key Takeaway
Ephrata Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Ephrata Township, PA
How much do homes in Ephrata Township, PA cost?
Median Sold Price
$320,000
$178/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Ephrata Township have sold for 9.4% more than they did a year ago.
Summary: The median home sold price in Ephrata Township was $320,000 in May 2024, up 9.4% from last year, and the median price per square foot was $178.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $245K | $281.5K | +14.9% |
| 3 Bedrooms | $279.9K | $299.9K | +7.1% |
| 4 Bedrooms | $345K | $389.9K | +13.0% |
| 5+ Bedrooms | $399.9K | $460K | +15.0% |
Summary: Ephrata Township 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 14.9%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 13%, and 5+ bedroom homes increased by 15%.
Median Sold Price Compared To Nearby Cities
| Ephrata | $275K | $321K | +16.7% |
| Stevens | $295K | $325K | +10.2% |
| Ephrata Township | $292.4K | $320K | +9.4% |
| West Earl Township | $334K | $348.8K | +4.5% |
Housing Supply in Ephrata Township, PA
How many homes are available in Ephrata Township, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 71 | 69 | -2.8% |
Summary: The Ephrata Township real estate market had 69 homes for sale in May 2024, a 2.8% decrease 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 | 12 | +9.1% |
| 3 Bedrooms | 35 | 36 | +2.9% |
| 4 Bedrooms | 20 | 18 | -10.0% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The Ephrata Township 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 9.1%, 3 bedroom homes increased by 2.9%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 19 | 19 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
6 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ephrata Township, you could pay more than the asking price. 63.2% of homes here sold above asking price last month.
Summary: A total of 19 homes were sold or pending in Ephrata Township in May 2024, the same as the previous month. Of the 19 sold homes, 5% were sold under asking, 32% were sold at asking, and 63% were sold over asking.
Days on Market for Ephrata Township, PA
How long does it take to sell a home in Ephrata Township, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 17 Days | 14 Days | -15.3% |
Summary: Homes in Ephrata Township had an average of 14 days on market in May 2024, down by 15.3% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Ephrata Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 19 homes were sold in Ephrata Township; 79% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
