Is Pennsburg, 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, Pennsburg has remained a Buyer's Market.
Key Takeaway
Pennsburg is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Pennsburg, PA
How much do homes in Pennsburg, PA cost?
Median Sold Price
$430,000
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Pennsburg have sold for 31.4% more than they did a year ago.
Summary: The median home sold price in Pennsburg was $430,000 in May 2024, up 31.4% from last year, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $200K | N/A |
| 2 Bedrooms | $190K | $280K | +47.4% |
| 3 Bedrooms | $324.9K | $327K | +0.6% |
| 4 Bedrooms | $480K | $550K | +14.6% |
| 5+ Bedrooms | $508.5K | $810K | +59.3% |
Summary: Pennsburg 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 47.4%, 3 bedroom homes increased by 0.6%, 4 bedroom homes increased by 14.6%, and 5+ bedroom homes increased by 59.3%.
Median Sold Price Compared To Nearby Cities
| East Greenville | $242K | $350K | +44.6% |
| Pennsburg | $327.2K | $430K | +31.4% |
| Upper Hanover Township | $411.2K | $482.4K | +17.3% |
Housing Supply in Pennsburg, PA
How many homes are available in Pennsburg, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 25 | 29 | +16.0% |
Summary: The Pennsburg real estate market had 29 homes for sale in May 2024, a 16.0% 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 | 2 | 0 | -100.0% |
| 3 Bedrooms | 9 | 11 | +22.2% |
| 4 Bedrooms | 13 | 14 | +7.7% |
| 5+ Bedrooms | 1 | 4 | +300.0% |
Summary: The Pennsburg 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 100%, 3 bedroom homes increased by 22.2%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 300%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 6 | 4 | -33.3% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Pennsburg, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Pennsburg in May 2024, down by 33.3% month-over-month. Of the 4 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Pennsburg, PA
How long does it take to sell a home in Pennsburg, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 10 Days | 4 Days | -62.5% |
Summary: Homes in Pennsburg had an average of 4 days on market in May 2024, down by 62.5% 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
Key Takeaway
Many homes in Pennsburg are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 4 homes were sold in Pennsburg; 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.
