Is Palmer 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, Palmer Township has remained a Seller's Market.
Key Takeaway
Palmer Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Palmer Township, PA
How much do homes in Palmer Township, PA cost?
Median Sold Price
$360,000
$187/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Palmer Township have sold for 5.9% more than they did a year ago.
Summary: The median home sold price in Palmer Township was $360,000 in May 2024, up 5.9% from last year, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $309K | $300K | -2.9% |
| 3 Bedrooms | $300K | $340K | +13.3% |
| 4 Bedrooms | $470K | $449.9K | -4.3% |
| 5+ Bedrooms | $456.5K | $560K | +22.7% |
Summary: Palmer 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 decreased by 2.9%, 3 bedroom homes increased by 13.3%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes increased by 22.7%.
Median Sold Price Compared To Nearby Cities
| Wilson | $206.2K | $236.8K | +14.8% |
| Forks Township | $395.5K | $434.2K | +9.8% |
| Palmer Township | $339.9K | $360K | +5.9% |
Housing Supply in Palmer Township, PA
How many homes are available in Palmer Township, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 101 | 99 | -2.0% |
Summary: The Palmer Township real estate market had 99 homes for sale in May 2024, a 2.0% decrease 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 | 12 | 11 | -8.3% |
| 3 Bedrooms | 44 | 58 | +31.8% |
| 4 Bedrooms | 30 | 20 | -33.3% |
| 5+ Bedrooms | 15 | 10 | -33.3% |
Summary: The Palmer 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 decreased by 8.3%, 3 bedroom homes increased by 31.8%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 23 | 25 | +8.7% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Palmer Township, you could pay more than the asking price. 48% of homes here sold above asking price last month.
Summary: A total of 25 homes were sold or pending in Palmer Township in May 2024, up by 8.7% month-over-month. Of the 25 sold homes, 32% were sold under asking, 20% were sold at asking, and 48% were sold over asking.
Days on Market for Palmer Township, PA
How long does it take to sell a home in Palmer Township, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 43 Days | 19 Days | -54.3% |
Summary: Homes in Palmer Township had an average of 19 days on market in May 2024, down by 54.3% compared to last year.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Palmer Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 25 homes were sold in Palmer Township; 88% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
