Is Palmyra, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Palmyra has remained a Seller's Market.
Key Takeaway
Palmyra is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Palmyra, PA
How much do homes in Palmyra, PA cost?
Median Sold Price
$314,000
$165/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Palmyra have sold for 16.3% more than they did a year ago.
Summary: The median home sold price in Palmyra was $314,000 in April 2024, up 16.3% from last year, and the median price per square foot was $165.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $202.7K | $220K | +8.5% |
| 3 Bedrooms | $235K | $282.5K | +20.2% |
| 4 Bedrooms | $370K | $408.5K | +10.4% |
| 5+ Bedrooms | $400K | $485K | +21.3% |
Summary: Palmyra housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 8.5%, 3 bedroom homes increased by 20.2%, 4 bedroom homes increased by 10.4%, and 5+ bedroom homes increased by 21.3%.
Median Sold Price Compared To Nearby Cities
| North Londonderry Township | $315K | $378.1K | +20.0% |
| Palmyra | $270K | $314K | +16.3% |
| Annville | $310K | $336.4K | +8.5% |
| Hershey | $383.5K | $405K | +5.6% |
| Derry Township | $355K | $346.6K | -2.3% |
Housing Supply in Palmyra, PA
How many homes are available in Palmyra, PA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 51 | 64 | +25.5% |
Summary: The Palmyra real estate market had 64 homes for sale in April 2024, a 25.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 9 | 0.0% |
| 3 Bedrooms | 27 | 27 | 0.0% |
| 4 Bedrooms | 13 | 24 | +84.6% |
| 5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The Palmyra housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 84.6%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 13 | 15 | +15.4% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Palmyra, you could pay more than the asking price. 46.7% of homes here sold above asking price last month.
Summary: A total of 15 homes were sold or pending in Palmyra in April 2024, up by 15.4% month-over-month. Of the 15 sold homes, 20% were sold under asking, 33% were sold at asking, and 47% were sold over asking.
Days on Market for Palmyra, PA
How long does it take to sell a home in Palmyra, PA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 6 Days | 33 Days | +403.4% |
Summary: Homes in Palmyra had an average of 33 days on market in Apr 2024, up by 403.4% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Palmyra are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 15 homes were sold in Palmyra; 80% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
