Is Richland Township, 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, Richland Township has remained a Seller's Market.
Housing Prices in Richland Township, PA
How much do homes in Richland Township, PA cost?
Median Sold Price
$380,000
$200/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Richland Township was $380,000 in March 2024, up 0.7% from last year, and the median price per square foot was $200.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $278K | - | N/A |
2 Bedrooms | $231.5K | $273.5K | +18.1% |
3 Bedrooms | $326.2K | $343.7K | +5.4% |
4 Bedrooms | $424.5K | $480K | +13.1% |
5+ Bedrooms | $460K | $483K | +5.0% |
Summary: Richland Township 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 increased by 18.1%, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 13.1%, and 5+ bedroom homes increased by 5%.
Median Sold Price Compared To Nearby Cities
East Rockhill Township | $425K | $550K | +29.4% |
Richland Township | $377.4K | $380K | +0.7% |
Quakertown | $364.9K | $356K | -2.4% |
Milford Township | $413.7K | $388K | -6.2% |
Richlandtown | $325K | $281K | -13.5% |
Housing Supply in Richland Township, PA
How many homes are available in Richland Township, PA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
56 | 53 | -5.4% |
Summary: The Richland Township real estate market had 53 homes for sale in March 2024, a 5.4% decrease 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 | 6 | 5 | -16.7% |
3 Bedrooms | 25 | 23 | -8.0% |
4 Bedrooms | 23 | 21 | -8.7% |
5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The Richland 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 decreased by 16.7%, 3 bedroom homes decreased by 8%, 4 bedroom homes decreased by 8.7%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
16 | 14 | -12.5% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 14 homes were sold or pending in Richland Township in March 2024, down by 12.5% month-over-month. Of the 14 sold homes, 36% were sold under asking, 29% were sold at asking, and 36% were sold over asking.
Days on Market for Richland Township, PA
How long does it take to sell a home in Richland Township, PA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
37 Days | 21 Days | -44.1% |
Summary: Homes in Richland Township had an average of 21 days on market in Mar 2024, down by 44.1% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 14 homes were sold in Richland Township; 71% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.