Is New Hope, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, New Hope has remained a Buyer's Market.
Key Takeaway
New Hope is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in New Hope, PA
How much do homes in New Hope, PA cost?
Median Sold Price
$840,000
$314/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in New Hope have sold for 2.9% more than they did a year ago.
Summary: The median home sold price in New Hope was $840,000 in March 2024, up 2.9% from last year, and the median price per square foot was $314.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $308.7K | $314K | +1.7% |
| 2 Bedrooms | $410K | $535K | +30.5% |
| 3 Bedrooms | $812.5K | $645K | -20.6% |
| 4 Bedrooms | $940K | $1.1M | +18.6% |
| 5+ Bedrooms | $2.6M | $1.6M | -39.6% |
Summary: New Hope housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.7%, 2 bedroom homes increased by 30.5%, 3 bedroom homes decreased by 20.6%, 4 bedroom homes increased by 18.6%, and 5+ bedroom homes decreased by 39.6%.
Median Sold Price Compared To Nearby Cities
| West Amwell Township | $483K | $615K | +27.3% |
| Lambertville | $515K | $573.7K | +11.4% |
| Solebury Township | $757.4K | $802.5K | +5.9% |
| New Hope | $816K | $840K | +2.9% |
Housing Supply in New Hope, PA
How many homes are available in New Hope, PA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 96 | 109 | +13.5% |
Summary: The New Hope real estate market had 109 homes for sale in March 2024, a 13.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 11 | 13 | +18.2% |
| 3 Bedrooms | 20 | 21 | +5.0% |
| 4 Bedrooms | 33 | 38 | +15.2% |
| 5+ Bedrooms | 30 | 34 | +13.3% |
Summary: The New Hope housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 18.2%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 15.2%, and 5+ bedroom homes increased by 13.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 13 | +85.7% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in New Hope, you may be able to get a good deal. 84.6% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in New Hope in March 2024, up by 85.7% month-over-month. Of the 13 sold homes, 85% were sold under asking, 0% were sold at asking, and 15% were sold over asking.
Days on Market for New Hope, PA
How long does it take to sell a home in New Hope, PA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 47 Days | 33 Days | -28.1% |
Summary: Homes in New Hope had an average of 33 days on market in Mar 2024, down by 28.1% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in New Hope has remained consistent over time.
Summary: During March 2024, 13 homes were sold in New Hope; 46% of homes were sold within 30 days, 54% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
