Is Souderton, 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, Souderton has remained a Seller's Market.
Key Takeaway
Souderton is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Souderton, PA
How much do homes in Souderton, PA cost?
Median Sold Price
$415,000
$229/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Souderton have sold for 20.3% more than they did a year ago.
Summary: The median home sold price in Souderton was $415,000 in May 2024, up 20.3% from last year, and the median price per square foot was $229.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $423K | $465K | +9.9% |
| 3 Bedrooms | $320K | $406.5K | +27.0% |
| 4 Bedrooms | $405K | $465K | +14.8% |
| 5+ Bedrooms | $451K | $555K | +23.1% |
Summary: Souderton 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 9.9%, 3 bedroom homes increased by 27%, 4 bedroom homes increased by 14.8%, and 5+ bedroom homes increased by 23.1%.
Median Sold Price Compared To Nearby Cities
| Souderton | $345K | $415K | +20.3% |
| Franconia Township | $432.5K | $495K | +14.5% |
| Telford | $364.7K | $389.9K | +6.9% |
| Telford | $388K | $387K | -0.3% |
| Hilltown Township | $525K | $477.5K | -9.0% |
Housing Supply in Souderton, PA
How many homes are available in Souderton, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 30 | 34 | +13.3% |
Summary: The Souderton real estate market had 34 homes for sale in May 2024, a 13.3% 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 | 4 | 5 | +25.0% |
| 3 Bedrooms | 17 | 15 | -11.8% |
| 4 Bedrooms | 9 | 12 | +33.3% |
| 5+ Bedrooms | 0 | 2 | +100.0% |
Summary: The Souderton 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 increased by 25%, 3 bedroom homes decreased by 11.8%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 7 | +133.3% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Souderton, you could pay more than the asking price. 71.4% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in Souderton in May 2024, up by 133.3% month-over-month. Of the 7 sold homes, 0% were sold under asking, 29% were sold at asking, and 71% were sold over asking.
Days on Market for Souderton, PA
How long does it take to sell a home in Souderton, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 15 Days | 27 Days | +71.9% |
Summary: Homes in Souderton had an average of 27 days on market in May 2024, up by 71.9% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Souderton are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 7 homes were sold in Souderton; 71% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
