Is Lower Makefield Township, 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, Lower Makefield Township has remained a Seller's Market.
Key Takeaway
Lower Makefield Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices
How much do homes in Lower Makefield Township, PA cost?
Median Sold Price
$587,500
$248/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2022
Key Takeaway
Homes in Lower Makefield Township have sold for 5.4% more than they did a year ago.
Summary: The median home sold price in Lower Makefield Township was $587,500 in August 2023, up 5.4% from last year, and the median price per square foot was $248.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $249K | - | N/A |
| 2 Bedrooms | $325K | $372.5K | +14.6% |
| 3 Bedrooms | $445K | $500K | +12.4% |
| 4 Bedrooms | $675K | $680K | +0.7% |
| 5+ Bedrooms | $849.9K | $739K | -13.0% |
Summary: Lower Makefield Township housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 14.6%, 3 bedroom homes increased by 12.4%, 4 bedroom homes increased by 0.7%, and 5+ bedroom homes decreased by 13%.
Median Sold Price Compared To Nearby Cities
| Morrisville | $298.5K | $325K | +8.9% |
| Yardley | $517.5K | $550K | +6.3% |
| Ewing Township | $296.3K | $315K | +6.3% |
| Lower Makefield Township | $557.3K | $587.5K | +5.4% |
| Washington Crossing | $665K | $695K | +4.5% |
Housing Supply
How many homes are available in Lower Makefield Township, PA?
Number of Homes For Sale
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 107 | 90 | -15.9% |
Summary: The Lower Makefield Township real estate market had 90 homes for sale in August 2023, a 15.9% 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 | 10 | 12 | +20.0% |
| 3 Bedrooms | 35 | 36 | +2.9% |
| 4 Bedrooms | 49 | 32 | -34.7% |
| 5+ Bedrooms | 13 | 10 | -23.1% |
Summary: The Lower Makefield Township 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 increased by 20%, 3 bedroom homes increased by 2.9%, 4 bedroom homes decreased by 34.7%, and 5+ bedroom homes decreased by 23.1%.
Number of Homes Sold
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 38 | 31 | -18.4% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lower Makefield Township, you could pay more than the asking price. 71% of homes here sold above asking price last month.
Summary: A total of 31 homes were sold or pending in Lower Makefield Township in August 2023, down by 18.4% month-over-month. Of the 31 sold homes, 19% were sold under asking, 10% were sold at asking, and 71% were sold over asking.
Days on Market
How long does it take to sell a home in Lower Makefield Township, PA?
Average Sale Time
| Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|
| 8 Days | 18 Days | +108.8% |
Summary: Homes in Lower Makefield Township had an average of 18 days on market in Aug 2023, up by 108.8% compared to last year.
Breakdown of Home Sale Times
28 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lower Makefield Township are selling fast, if you're buying plan to act quickly.
Summary: During August 2023, 31 homes were sold in Lower Makefield Township; 90% of homes were sold within 30 days, 3% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
