Is Lower Salford 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, Lower Salford Township has remained a Seller's Market.
Housing Prices in Lower Salford Township, PA
How much do homes in Lower Salford Township, PA cost?
Median Sold Price
$520,000
$231/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lower Salford Township was $520,000 in May 2024, down 4.1% from last year, and the median price per square foot was $231.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $370K | $380K | +2.7% |
3 Bedrooms | $400K | $430K | +7.5% |
4 Bedrooms | $653K | $625K | -4.3% |
5+ Bedrooms | $855K | $790K | -7.6% |
Summary: Lower Salford 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 2.7%, 3 bedroom homes increased by 7.5%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes decreased by 7.6%.
Median Sold Price Compared To Nearby Cities
Franconia Township | $432.5K | $495K | +14.5% |
Skippack Township | $452.5K | $488K | +7.8% |
Harleysville | $485K | $475K | -2.1% |
Lower Salford Township | $542.4K | $520K | -4.1% |
Towamencin Township | $455K | $425K | -6.6% |
Housing Supply in Lower Salford Township, PA
How many homes are available in Lower Salford Township, PA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
44 | 61 | +38.6% |
Summary: The Lower Salford Township real estate market had 61 homes for sale in May 2024, a 38.6% 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 | 3 | 4 | +33.3% |
3 Bedrooms | 24 | 28 | +16.7% |
4 Bedrooms | 12 | 21 | +75.0% |
5+ Bedrooms | 5 | 8 | +60.0% |
Summary: The Lower Salford Township 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 33.3%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 75%, and 5+ bedroom homes increased by 60%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
3 | 11 | +266.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in Lower Salford Township in May 2024, up by 266.7% month-over-month. Of the 11 sold homes, 27% were sold under asking, 45% were sold at asking, and 27% were sold over asking.
Days on Market for Lower Salford Township, PA
How long does it take to sell a home in Lower Salford Township, PA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
16 Days | 21 Days | +30.5% |
Summary: Homes in Lower Salford Township had an average of 21 days on market in May 2024, up by 30.5% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 11 homes were sold in Lower Salford Township; 73% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.