Is Pennsburg, 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, Pennsburg has remained a Seller's Market.
Key Takeaway
Pennsburg is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Pennsburg, PA
How much do homes in Pennsburg, PA cost?
Median Sold Price
$430,000
$197/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Pennsburg have sold for 32.3% more than they did a year ago.
Summary: The median home sold price in Pennsburg was $430,000 in April 2024, up 32.3% from last year, and the median price per square foot was $197.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $200K | N/A |
| 2 Bedrooms | $190K | $280K | +47.4% |
| 3 Bedrooms | $324.9K | $326K | 0.3% |
| 4 Bedrooms | $480K | $545K | +13.5% |
| 5+ Bedrooms | $508.5K | $810K | +59.3% |
Summary: Pennsburg 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 47.4%, 3 bedroom homes increased by 0.3%, 4 bedroom homes increased by 13.5%, and 5+ bedroom homes increased by 59.3%.
Median Sold Price Compared To Nearby Cities
| Pennsburg | $324.9K | $430K | +32.3% |
| Upper Hanover Township | $435K | $475K | +9.2% |
Housing Supply in Pennsburg, PA
How many homes are available in Pennsburg, PA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 19 | 23 | +21.1% |
Summary: The Pennsburg real estate market had 23 homes for sale in April 2024, a 21.1% 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 | 2 | 2 | 0.0% |
| 3 Bedrooms | 6 | 9 | +50.0% |
| 4 Bedrooms | 9 | 11 | +22.2% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Pennsburg 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 increased by 50%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 7 | 5 | -28.6% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Pennsburg, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Pennsburg in April 2024, down by 28.6% month-over-month. Of the 5 sold homes, 40% were sold under asking, 0% were sold at asking, and 60% were sold over asking.
Days on Market for Pennsburg, PA
How long does it take to sell a home in Pennsburg, PA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 19 Days | 23 Days | +17.5% |
Summary: Homes in Pennsburg had an average of 23 days on market in Apr 2024, up by 17.5% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Pennsburg are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 5 homes were sold in Pennsburg; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
