Is Penn Township, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Penn Township was a Seller's Market.
Key Takeaway
Penn Township 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 Penn Township, PA
How much do homes in Penn Township, PA cost?
Median Sold Price
$275,000
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Penn Township have sold for 8% more than they did a year ago.
Summary: The median home sold price in Penn Township was $275,000 in March 2024, up 8% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $82.5K | $135K | +63.6% |
| 2 Bedrooms | $164.9K | $178K | +7.9% |
| 3 Bedrooms | $254.6K | $275K | +8.0% |
| 4 Bedrooms | $389.9K | $320K | -17.9% |
| 5+ Bedrooms | $399K | $492.4K | +23.4% |
Summary: Penn Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 63.6%, 2 bedroom homes increased by 7.9%, 3 bedroom homes increased by 8%, 4 bedroom homes decreased by 17.9%, and 5+ bedroom homes increased by 23.4%.
Median Sold Price Compared To Nearby Cities
| Hanover | $225K | $272.5K | +21.1% |
| West Manheim Township | $289K | $349.9K | +21.1% |
| Heidelberg Township | $308K | $340K | +10.4% |
| Penn Township | $254.6K | $275K | +8.0% |
| Conewago Township | $258K | $250K | -3.1% |
Housing Supply in Penn Township, PA
How many homes are available in Penn Township, PA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 131 | 133 | +1.5% |
Summary: The Penn Township real estate market had 133 homes for sale in March 2024, a 1.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 11 | 13 | +18.2% |
| 3 Bedrooms | 86 | 86 | 0.0% |
| 4 Bedrooms | 22 | 25 | +13.6% |
| 5+ Bedrooms | 12 | 9 | -25.0% |
Summary: The Penn Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 18.2%, 3 bedroom homes remained the same, 4 bedroom homes increased by 13.6%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 21 | 21 | 0.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Penn Township, expect to pay close to the asking price. 47.6% of homes here sold near the asking price last month.
Summary: A total of 21 homes were sold or pending in Penn Township in March 2024, the same as the previous month. Of the 21 sold homes, 19% were sold under asking, 48% were sold at asking, and 33% were sold over asking.
Days on Market for Penn Township, PA
How long does it take to sell a home in Penn Township, PA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 64 Days | 39 Days | -38.8% |
Summary: Homes in Penn Township had an average of 39 days on market in Mar 2024, down by 38.8% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Penn Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 21 homes were sold in Penn Township; 57% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.
