Is Wayne, 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, Wayne has remained a Seller's Market.
Key Takeaway
Wayne is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Wayne, PA
How much do homes in Wayne, PA cost?
Median Sold Price
$675,000
$305/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Wayne have sold for 8% more than they did a year ago.
Summary: The median home sold price in Wayne was $675,000 in May 2024, up 8% from last year, and the median price per square foot was $305.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $211K | $235K | +11.4% |
| 2 Bedrooms | $337.7K | $340K | +0.7% |
| 3 Bedrooms | $538.5K | $597.5K | +10.9% |
| 4 Bedrooms | $843K | $887.5K | +5.3% |
| 5+ Bedrooms | $1.3M | $1.5M | +7.3% |
Summary: Wayne housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.4%, 2 bedroom homes increased by 0.7%, 3 bedroom homes increased by 10.9%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes increased by 7.3%.
Median Sold Price Compared To Nearby Cities
| Upper Merion Township | $440K | $521.6K | +18.6% |
| Devon | $779.5K | $899K | +15.3% |
| Wayne | $625K | $675K | +8.0% |
| Tredyffrin Township | $620K | $642.3K | +3.6% |
| Easttown Township | $949K | $910K | -4.1% |
Housing Supply in Wayne, PA
How many homes are available in Wayne, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 118 | 128 | +8.5% |
Summary: The Wayne real estate market had 128 homes for sale in May 2024, a 8.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 7 | +40.0% |
| 2 Bedrooms | 12 | 16 | +33.3% |
| 3 Bedrooms | 30 | 33 | +10.0% |
| 4 Bedrooms | 41 | 37 | -9.8% |
| 5+ Bedrooms | 30 | 35 | +16.7% |
Summary: The Wayne housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 40%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 10%, 4 bedroom homes decreased by 9.8%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 35 | 25 | -28.6% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wayne, you could pay more than the asking price. 68% of homes here sold above asking price last month.
Summary: A total of 25 homes were sold or pending in Wayne in May 2024, down by 28.6% month-over-month. Of the 25 sold homes, 16% were sold under asking, 16% were sold at asking, and 68% were sold over asking.
Days on Market for Wayne, PA
How long does it take to sell a home in Wayne, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 9 Days | 16 Days | +80.0% |
Summary: Homes in Wayne had an average of 16 days on market in May 2024, up by 80% 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 Wayne are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 25 homes were sold in Wayne; 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.
