Is Port Richmond, 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, Port Richmond has remained a Buyer's Market.
Key Takeaway
Port Richmond is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Port Richmond, PA
How much do homes in Port Richmond, PA cost?
Median Sold Price
$224,000
$204/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Port Richmond have sold for 6.7% less than they did a year ago.
Summary: The median home sold price in Port Richmond was $224,000 in March 2024, down 6.7% from last year, and the median price per square foot was $204.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $187.5K | N/A |
| 2 Bedrooms | $190K | $188.5K | -0.8% |
| 3 Bedrooms | $264K | $250K | -5.3% |
| 4 Bedrooms | $500K | $380K | -24.0% |
| 5+ Bedrooms | - | $242.5K | N/A |
Summary: Port Richmond housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 0.8%, 3 bedroom homes decreased by 5.3%, 4 bedroom homes decreased by 24%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Bridesburg | $217.4K | $228K | +4.9% |
| Harrowgate | $95K | $95K | 0.0% |
| Kensington | $275K | $269.9K | -1.8% |
| Bridesburg / Kensington / Richmond | $235.3K | $225.3K | -4.3% |
| Port Richmond | $240K | $224K | -6.7% |
Housing Supply in Port Richmond, PA
How many homes are available in Port Richmond, PA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 232 | 240 | +3.4% |
Summary: The Port Richmond real estate market had 240 homes for sale in March 2024, a 3.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 59 | 67 | +13.6% |
| 3 Bedrooms | 145 | 145 | 0.0% |
| 4 Bedrooms | 22 | 22 | 0.0% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Port Richmond 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 13.6%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 15 | 16 | +6.7% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Port Richmond, expect to pay close to the asking price. 43.8% of homes here sold near the asking price last month.
Summary: A total of 16 homes were sold or pending in Port Richmond in March 2024, up by 6.7% month-over-month. Of the 16 sold homes, 31% were sold under asking, 44% were sold at asking, and 25% were sold over asking.
Days on Market for Port Richmond, PA
How long does it take to sell a home in Port Richmond, PA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 89 Days | 39 Days | -56.1% |
Summary: Homes in Port Richmond had an average of 39 days on market in Mar 2024, down by 56.1% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Port Richmond are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 16 homes were sold in Port Richmond; 63% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.
