Is Cheltenham Township, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Cheltenham Township was a Neutral Market.
Key Takeaway
Cheltenham Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cheltenham Township, PA
How much do homes in Cheltenham Township, PA cost?
Median Sold Price
$380,000
$185/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Cheltenham Township have sold for 1.1% more than they did a year ago.
Summary: The median home sold price in Cheltenham Township was $380,000 in March 2024, up 1.1% from last year, and the median price per square foot was $185.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $99K | $122.5K | +23.7% |
| 2 Bedrooms | $238K | $210K | -11.8% |
| 3 Bedrooms | $355K | $360.7K | +1.6% |
| 4 Bedrooms | $420K | $445K | +6.0% |
| 5+ Bedrooms | $513K | $510K | -0.6% |
Summary: Cheltenham Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.7%, 2 bedroom homes decreased by 11.8%, 3 bedroom homes increased by 1.6%, 4 bedroom homes increased by 6%, and 5+ bedroom homes decreased by 0.6%.
Median Sold Price Compared To Nearby Cities
| Jenkintown | $425K | $452.5K | +6.5% |
| Abington Township | $384.8K | $410K | +6.5% |
| Springfield Township | $449.9K | $465.3K | +3.4% |
| Cheltenham Township | $376K | $380K | +1.1% |
| Philadelphia | $272.1K | $257.6K | -5.3% |
Housing Supply in Cheltenham Township, PA
How many homes are available in Cheltenham Township, PA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 170 | 164 | -3.5% |
Summary: The Cheltenham Township real estate market had 164 homes for sale in March 2024, a 3.5% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 6 | -14.3% |
| 2 Bedrooms | 17 | 16 | -5.9% |
| 3 Bedrooms | 66 | 61 | -7.6% |
| 4 Bedrooms | 44 | 42 | -4.5% |
| 5+ Bedrooms | 36 | 39 | +8.3% |
Summary: The Cheltenham Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 14.3%, 2 bedroom homes decreased by 5.9%, 3 bedroom homes decreased by 7.6%, 4 bedroom homes decreased by 4.5%, and 5+ bedroom homes increased by 8.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 24 | 28 | +16.7% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cheltenham Township, expect to pay close to the asking price. 46.4% of homes here sold near the asking price last month.
Summary: A total of 28 homes were sold or pending in Cheltenham Township in March 2024, up by 16.7% month-over-month. Of the 28 sold homes, 32% were sold under asking, 46% were sold at asking, and 21% were sold over asking.
Days on Market for Cheltenham Township, PA
How long does it take to sell a home in Cheltenham Township, PA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 18 Days | 24 Days | +30.4% |
Summary: Homes in Cheltenham Township had an average of 24 days on market in Mar 2024, up by 30.4% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Cheltenham Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 28 homes were sold in Cheltenham Township; 71% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
