Is Bensalem, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2022
Since last year, Bensalem has remained a Seller's Market.
Key Takeaway
Bensalem is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices
How much do homes in Bensalem, PA cost?
Median Sold Price
$379,250
$229/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2022
Key Takeaway
Homes in Bensalem have sold for 12.7% more than they did a year ago.
Summary: The median home sold price in Bensalem was $379,250 in August 2023, up 12.7% from last year, and the median price per square foot was $229.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $138K | $310K | +124.6% |
| 2 Bedrooms | $255K | $300K | +17.6% |
| 3 Bedrooms | $331K | $369.5K | +11.6% |
| 4 Bedrooms | $447.7K | $500K | +11.7% |
| 5+ Bedrooms | $537.5K | $515K | -4.2% |
Summary: Bensalem housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes increased by 124.6%, 2 bedroom homes increased by 17.6%, 3 bedroom homes increased by 11.6%, 4 bedroom homes increased by 11.7%, and 5+ bedroom homes decreased by 4.2%.
Median Sold Price Compared To Nearby Cities
| Bensalem Township | $339.9K | $385K | +13.3% |
| Bensalem | $336.5K | $379.2K | +12.7% |
| Delanco Township | $285K | $302.5K | +6.1% |
| Beverly | $248.7K | $261.5K | +5.1% |
Housing Supply
How many homes are available in Bensalem, PA?
Number of Homes For Sale
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 124 | 113 | -8.9% |
Summary: The Bensalem real estate market had 113 homes for sale in August 2023, a 8.9% decrease compared to July 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 7 | -22.2% |
| 3 Bedrooms | 73 | 64 | -12.3% |
| 4 Bedrooms | 38 | 36 | -5.3% |
| 5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The Bensalem housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 22.2%, 3 bedroom homes decreased by 12.3%, 4 bedroom homes decreased by 5.3%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 37 | 28 | -24.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bensalem, you could pay more than the asking price. 46.4% of homes here sold above asking price last month.
Summary: A total of 28 homes were sold or pending in Bensalem in August 2023, down by 24.3% month-over-month. Of the 28 sold homes, 25% were sold under asking, 29% were sold at asking, and 46% were sold over asking.
Days on Market
How long does it take to sell a home in Bensalem, PA?
Average Sale Time
| Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|
| 14 Days | 12 Days | -17.1% |
Summary: Homes in Bensalem had an average of 12 days on market in Aug 2023, down by 17.1% compared to last year.
Breakdown of Home Sale Times
26 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 Bensalem are selling fast, if you're buying plan to act quickly.
Summary: During August 2023, 28 homes were sold in Bensalem; 93% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
