Is Newtown Township, 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, Newtown Township was a Seller's Market.
Key Takeaway
Newtown Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Newtown Township, PA
How much do homes in Newtown Township, PA cost?
Median Sold Price
$648,666
$273/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
The sold price of homes in Newtown Township has remained the same since last year.
Summary: The median home sold price in Newtown Township was $648,666 in May 2024, down 0.1% from last year, and the median price per square foot was $273.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $255K | $277.4K | +8.8% |
| 2 Bedrooms | $337K | $353.7K | +5.0% |
| 3 Bedrooms | $535.5K | $565K | +5.5% |
| 4 Bedrooms | $775K | $802.5K | +3.5% |
| 5+ Bedrooms | $1.3M | $1.2M | -8.4% |
Summary: Newtown Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.8%, 2 bedroom homes increased by 5%, 3 bedroom homes increased by 5.5%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes decreased by 8.4%.
Median Sold Price Compared To Nearby Cities
| Marple Township | $480.7K | $540K | +12.3% |
| Broomall | $475K | $525K | +10.5% |
| Newtown Square | $675K | $735.6K | +9.0% |
| Edgmont Township | $849.9K | $900K | +5.9% |
| Newtown Township | $649.1K | $648.6K | -0.1% |
Housing Supply in Newtown Township, PA
How many homes are available in Newtown Township, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 132 | 163 | +23.5% |
Summary: The Newtown Township real estate market had 163 homes for sale in May 2024, a 23.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 2 | -50.0% |
| 2 Bedrooms | 14 | 26 | +85.7% |
| 3 Bedrooms | 45 | 52 | +15.6% |
| 4 Bedrooms | 41 | 51 | +24.4% |
| 5+ Bedrooms | 28 | 32 | +14.3% |
Summary: The Newtown Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 85.7%, 3 bedroom homes increased by 15.6%, 4 bedroom homes increased by 24.4%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 18 | 27 | +50.0% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Newtown Township, you could pay more than the asking price. 51.9% of homes here sold above asking price last month.
Summary: A total of 27 homes were sold or pending in Newtown Township in May 2024, up by 50.0% month-over-month. Of the 27 sold homes, 44% were sold under asking, 4% were sold at asking, and 52% were sold over asking.
Days on Market for Newtown Township, PA
How long does it take to sell a home in Newtown Township, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 48 Days | 34 Days | -29.0% |
Summary: Homes in Newtown Township had an average of 34 days on market in May 2024, down by 29% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Newtown Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 27 homes were sold in Newtown Township; 74% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
