Is Narberth, 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, Narberth was a Seller's Market.
Key Takeaway
Narberth is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Narberth, PA
How much do homes in Narberth, PA cost?
Median Sold Price
$862,500
$401/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Narberth have sold for 40.2% more than they did a year ago.
Summary: The median home sold price in Narberth was $862,500 in May 2024, up 40.2% from last year, and the median price per square foot was $401.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $150K | - | N/A |
| 2 Bedrooms | $375K | $363K | -3.2% |
| 3 Bedrooms | $498K | $655.5K | +31.6% |
| 4 Bedrooms | $987.5K | $885K | -10.4% |
| 5+ Bedrooms | $692.5K | $900K | +30.0% |
Summary: Narberth 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 decreased by 3.2%, 3 bedroom homes increased by 31.6%, 4 bedroom homes decreased by 10.4%, and 5+ bedroom homes increased by 30%.
Median Sold Price Compared To Nearby Cities
| Narberth | $614.9K | $862.5K | +40.2% |
| Lower Merion Township | $708.7K | $773.3K | +9.1% |
Housing Supply in Narberth, PA
How many homes are available in Narberth, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 12 | 16 | +33.3% |
Summary: The Narberth real estate market had 16 homes for sale in May 2024, a 33.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 3 | 4 | +33.3% |
| 4 Bedrooms | 4 | 6 | +50.0% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The Narberth housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 50%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Narberth, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 2 homes were sold or pending in Narberth in May 2024, the same as the previous month. Of the 2 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Narberth, PA
How long does it take to sell a home in Narberth, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 3 Days | 4 Days | +23.1% |
Summary: Homes in Narberth had an average of 4 days on market in May 2024, up by 23.1% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Narberth are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 2 homes were sold in Narberth; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
