Is Pennypack, 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, Pennypack has remained a Seller's Market.
Key Takeaway
Pennypack is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Pennypack, PA
How much do homes in Pennypack, PA cost?
Median Sold Price
$309,000
$223/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Pennypack have sold for 8.4% more than they did a year ago.
Summary: The median home sold price in Pennypack was $309,000 in April 2024, up 8.4% from last year, and the median price per square foot was $223.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $155K | N/A |
| 2 Bedrooms | $222.5K | $245K | +10.1% |
| 3 Bedrooms | $295K | $307.5K | +4.2% |
| 4 Bedrooms | $336K | $349.9K | +4.1% |
| 5+ Bedrooms | - | - | N/A |
Summary: Pennypack 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 10.1%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Pennypack | $285K | $309K | +8.4% |
| Far Northeast Philadelphia | $309.9K | $320.8K | +3.5% |
| Academy Gardens | $302.5K | $310K | +2.5% |
| Rhawnhurst | $299.9K | $305K | +1.7% |
Housing Supply in Pennypack, PA
How many homes are available in Pennypack, PA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 34 | 49 | +44.1% |
Summary: The Pennypack real estate market had 49 homes for sale in April 2024, a 44.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 23 | 34 | +47.8% |
| 4 Bedrooms | 8 | 10 | +25.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Pennypack housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 47.8%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 9 | 10 | +11.1% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Pennypack, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Pennypack in April 2024, up by 11.1% month-over-month. Of the 10 sold homes, 50% were sold under asking, 10% were sold at asking, and 40% were sold over asking.
Days on Market for Pennypack, PA
How long does it take to sell a home in Pennypack, PA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 38 Days | 9 Days | -74.3% |
Summary: Homes in Pennypack had an average of 9 days on market in Apr 2024, down by 74.3% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Pennypack are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 10 homes were sold in Pennypack; 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.
