Is Upper Gwynedd 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, Upper Gwynedd Township has remained a Seller's Market.
Key Takeaway
Upper Gwynedd Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Upper Gwynedd Township, PA
How much do homes in Upper Gwynedd Township, PA cost?
Median Sold Price
$515,435
$245/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Upper Gwynedd Township have sold for 16.5% more than they did a year ago.
Summary: The median home sold price in Upper Gwynedd Township was $515,435 in May 2024, up 16.5% from last year, and the median price per square foot was $245.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $188K | $220K | +17.0% |
| 2 Bedrooms | $350K | $378.7K | +8.2% |
| 3 Bedrooms | $407.2K | $442.5K | +8.7% |
| 4 Bedrooms | $585K | $680K | +16.2% |
| 5+ Bedrooms | $550K | $705K | +28.2% |
Summary: Upper Gwynedd Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17%, 2 bedroom homes increased by 8.2%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 16.2%, and 5+ bedroom homes increased by 28.2%.
Median Sold Price Compared To Nearby Cities
| Upper Gwynedd Township | $442.5K | $515.4K | +16.5% |
| North Wales | $420.5K | $470K | +11.8% |
| Montgomery Township | $475.7K | $499.4K | +5.0% |
| Lansdale | $407.9K | $425.2K | +4.2% |
| Towamencin Township | $455K | $425K | -6.6% |
Housing Supply in Upper Gwynedd Township, PA
How many homes are available in Upper Gwynedd Township, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 44 | 48 | +9.1% |
Summary: The Upper Gwynedd Township real estate market had 48 homes for sale in May 2024, a 9.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 9 | 7 | -22.2% |
| 3 Bedrooms | 13 | 14 | +7.7% |
| 4 Bedrooms | 16 | 22 | +37.5% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Upper Gwynedd Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 22.2%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 37.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 11 | 11 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Upper Gwynedd Township, you could pay more than the asking price. 54.5% of homes here sold above asking price last month.
Summary: A total of 11 homes were sold or pending in Upper Gwynedd Township in May 2024, the same as the previous month. Of the 11 sold homes, 18% were sold under asking, 27% were sold at asking, and 55% were sold over asking.
Days on Market for Upper Gwynedd Township, PA
How long does it take to sell a home in Upper Gwynedd Township, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 12 Days | 14 Days | +13.1% |
Summary: Homes in Upper Gwynedd Township had an average of 14 days on market in May 2024, up by 13.1% compared to last year.
Breakdown of Home Sale Times
9 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 Upper Gwynedd Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 11 homes were sold in Upper Gwynedd Township; 82% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
