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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Gap is a neutral's market

Buyer's
Market

Difference Since Last Month

Last month, Gap was a Buyer's Market.

Key Takeaway

Gap 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 Gap, PA

How much do homes in Gap, PA cost?

Median Sold Price

$365,750

$274/sqft

Based on all homes sold in February 2024.

Difference Since Last Month

-$178,750(-32.8%)

Key Takeaway

Homes in Gap have sold for 32.8% less than they did a month ago.

Summary: The median home sold price in Gap was $365,750 in February 2024, down 32.8% from last month, and the median price per square foot was $274.

Median Sold Price By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 --
N/A
2 --
N/A
3 $544.5K$365.7K
-32.8%
4 --
N/A
5+ --
N/A

Summary: Gap housing prices by bedroom type for February 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 32.8%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Christiana
+99.4%
Gap
-32.8%
Salisbury Township
-38.5%

Housing Supply in Gap, PA

How many homes are available in Gap, PA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
1214+16.7%

Summary: The Gap real estate market had 14 homes for sale in February 2024, a 16.7% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 11
0.0%
3 56
+20.0%
4 67
+16.7%
5+ 00
0.0%

Summary: The Gap housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
12+100.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Gap, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Summary: A total of 2 homes were sold or pending in Gap in February 2024, up by 100.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.

Days on Market for Gap, PA

How long does it take to sell a home in Gap, PA?

Average Sale Time

Jan 2024Feb 2024CHANGE
13 Days30 Days+130.8%

Summary: Homes in Gap had an average of 30 days on market in Feb 2024, up by 130.8% compared to last month.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Gap are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 2 homes were sold in Gap; 50% of homes were sold within 30 days, 50% 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 27 Days Ago

Newest Listings in Gap, PA

Nearby Markets to Gap, PA

What housing markets are near Gap, PA?