Is Cheltenham, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Cheltenham was a Seller's Market.
Key Takeaway
Cheltenham is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Cheltenham, PA
How much do homes in Cheltenham, PA cost?
Median Sold Price
$359,000
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Cheltenham have sold for 4.3% less than they did a year ago.
Summary: The median home sold price in Cheltenham was $359,000 in April 2024, down 4.3% from last year, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $289.5K | $300K | +3.6% |
| 3 Bedrooms | $375K | $321.2K | -14.3% |
| 4 Bedrooms | $405K | $440K | +8.6% |
| 5+ Bedrooms | $280K | $390K | +39.3% |
Summary: Cheltenham housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.6%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes increased by 8.6%, and 5+ bedroom homes increased by 39.3%.
Median Sold Price Compared To Nearby Neighborhoods
| Elkins Park | $340K | $394.5K | +16.0% |
| Fox Chase | $314.5K | $325K | +3.3% |
| Crescentville | $200K | $206K | +3.0% |
| Lawndale | $253K | $250K | -1.2% |
| Cheltenham | $374.9K | $359K | -4.3% |
Housing Supply in Cheltenham, PA
How many homes are available in Cheltenham, PA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 23 | 23 | 0.0% |
Summary: The Cheltenham real estate market had 23 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 3 | +200.0% |
| 3 Bedrooms | 11 | 7 | -36.4% |
| 4 Bedrooms | 9 | 12 | +33.3% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Cheltenham housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 200%, 3 bedroom homes decreased by 36.4%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 7 | 4 | -42.9% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cheltenham, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.
Summary: A total of 4 homes were sold or pending in Cheltenham in April 2024, down by 42.9% month-over-month. Of the 4 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.
Days on Market for Cheltenham, PA
How long does it take to sell a home in Cheltenham, PA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 15 Days | 6 Days | -55.3% |
Summary: Homes in Cheltenham had an average of 6 days on market in Apr 2024, down by 55.3% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cheltenham are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 4 homes were sold in Cheltenham; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
