Is New Hope, 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, New Hope was a Seller's Market.
Housing Prices in New Hope, PA
How much do homes in New Hope, PA cost?
Median Sold Price
$860,000
$323/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in New Hope was $860,000 in May 2024, up 9.5% from last year, and the median price per square foot was $323.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $300K | $315K | +5.0% |
2 Bedrooms | $535K | $472.5K | -11.7% |
3 Bedrooms | $614.5K | $660K | +7.4% |
4 Bedrooms | $910K | $1.1M | +23.1% |
5+ Bedrooms | $2.3M | $1.6M | -28.1% |
Summary: New Hope housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5%, 2 bedroom homes decreased by 11.7%, 3 bedroom homes increased by 7.4%, 4 bedroom homes increased by 23.1%, and 5+ bedroom homes decreased by 28.1%.
Median Sold Price Compared To Nearby Cities
Solebury Township | $692.4K | $847.7K | +22.4% |
New Hope | $785.5K | $860K | +9.5% |
Lambertville | $542.5K | $567.5K | +4.6% |
Housing Supply in New Hope, PA
How many homes are available in New Hope, PA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
84 | 106 | +26.2% |
Summary: The New Hope real estate market had 106 homes for sale in May 2024, a 26.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 6 | +20.0% |
2 Bedrooms | 9 | 6 | -33.3% |
3 Bedrooms | 16 | 24 | +50.0% |
4 Bedrooms | 36 | 44 | +22.2% |
5+ Bedrooms | 18 | 26 | +44.4% |
Summary: The New Hope housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes increased by 44.4%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
14 | 4 | -71.4% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 4 homes were sold or pending in New Hope in May 2024, down by 71.4% month-over-month. Of the 4 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% were sold over asking.
Days on Market for New Hope, PA
How long does it take to sell a home in New Hope, PA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
24 Days | 9 Days | -60.1% |
Summary: Homes in New Hope had an average of 9 days on market in May 2024, down by 60.1% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 4 homes were sold in New Hope; 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.