Is Bensalem, PA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Bensalem is a 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

+$42,750(+12.7%)

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

# BEDSAug 2022Aug 2023CHANGE
1 $138K$310K
+124.6%
2 $255K$300K
+17.6%
3 $331K$369.5K
+11.6%
4 $447.7K$500K
+11.7%
5+ $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
+13.3%
Bensalem
+12.7%
Delanco Township
+6.1%
Beverly
+5.1%

Housing Supply

How many homes are available in Bensalem, PA?

Number of Homes For Sale

Jul 2023Aug 2023CHANGE
124113-8.9%

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

# BEDSJul 2023Aug 2023CHANGE
1 00
0.0%
2 97
-22.2%
3 7364
-12.3%
4 3836
-5.3%
5+ 46
+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 2023Aug 2023CHANGE
3728-24.3%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

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 2022Aug 2023CHANGE
14 Days12 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

Breakdown of Home Sale Times

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 25 Days Ago

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Nearby Markets

What housing markets are near Bensalem, PA?