Is Lower Salford Township, PA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lower Salford Township is a buyer's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Lower Salford Township was a Neutral Market.

Key Takeaway

Lower Salford Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Lower Salford Township, PA

How much do homes in Lower Salford Township, PA cost?

Median Sold Price

$515,000

$230/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$45,000(-8.0%)

Key Takeaway

Homes in Lower Salford Township have sold for 8% less than they did a year ago.

Summary: The median home sold price in Lower Salford Township was $515,000 in February 2024, down 8% from last year, and the median price per square foot was $230.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 --
N/A
2 $366K$380K
+3.8%
3 $390K$427K
+9.5%
4 $650K$622.5K
-4.2%
5+ $855K$790K
-7.6%

Summary: Lower Salford Township housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.8%, 3 bedroom homes increased by 9.5%, 4 bedroom homes decreased by 4.2%, and 5+ bedroom homes decreased by 7.6%.

Median Sold Price Compared To Nearby Cities

Skippack Township
-2.8%
Harleysville
-3.1%
Lower Salford Township
-8.0%
Towamencin Township
-18.0%

Housing Supply in Lower Salford Township, PA

How many homes are available in Lower Salford Township, PA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
2835+25.0%

Summary: The Lower Salford Township real estate market had 35 homes for sale in February 2024, a 25.0% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 13
+200.0%
3 99
0.0%
4 1519
+26.7%
5+ 34
+33.3%

Summary: The Lower Salford Township 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 increased by 200%, 3 bedroom homes remained the same, 4 bedroom homes increased by 26.7%, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
52-60.0%

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 Lower Salford Township, 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 Lower Salford Township in February 2024, down by 60.0% 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 Lower Salford Township, PA

How long does it take to sell a home in Lower Salford Township, PA?

Average Sale Time

Feb 2023Feb 2024CHANGE
5 Days3 Days-39.1%

Summary: Homes in Lower Salford Township had an average of 3 days on market in Feb 2024, down by 39.1% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 2 homes were sold in Lower Salford Township; 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.

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

Report Updated 28 Days Ago

Newest Listings in Lower Salford Township, PA

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