Is Towamencin 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, Towamencin Township has remained a Seller's Market.
Key Takeaway
Towamencin Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Towamencin Township, PA
How much do homes in Towamencin Township, PA cost?
Median Sold Price
$386,000
$235/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Towamencin Township have sold for 21.2% less than they did a year ago.
Summary: The median home sold price in Towamencin Township was $386,000 in March 2024, down 21.2% from last year, and the median price per square foot was $235.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $195K | +5.4% |
| 2 Bedrooms | $238.5K | $255K | +6.9% |
| 3 Bedrooms | $397.5K | $375K | -5.7% |
| 4 Bedrooms | $582.9K | $584K | 0.2% |
| 5+ Bedrooms | $625K | $598.2K | -4.3% |
Summary: Towamencin Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.4%, 2 bedroom homes increased by 6.9%, 3 bedroom homes decreased by 5.7%, 4 bedroom homes increased by 0.2%, and 5+ bedroom homes decreased by 4.3%.
Median Sold Price Compared To Nearby Cities
| Upper Gwynedd Township | $467.5K | $500K | +7.0% |
| Lansdale | $408K | $409K | 0.3% |
| Lower Salford Township | $557.5K | $515K | -7.6% |
| Towamencin Township | $490K | $386K | -21.2% |
Housing Supply in Towamencin Township, PA
How many homes are available in Towamencin Township, PA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 48 | 45 | -6.3% |
Summary: The Towamencin Township real estate market had 45 homes for sale in March 2024, a 6.3% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 11 | 10 | -9.1% |
| 3 Bedrooms | 15 | 19 | +26.7% |
| 4 Bedrooms | 13 | 8 | -38.5% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Towamencin Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 9.1%, 3 bedroom homes increased by 26.7%, 4 bedroom homes decreased by 38.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 10 | 16 | +60.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Towamencin Township, you could pay more than the asking price. 68.8% of homes here sold above asking price last month.
Summary: A total of 16 homes were sold or pending in Towamencin Township in March 2024, up by 60.0% month-over-month. Of the 16 sold homes, 13% were sold under asking, 19% were sold at asking, and 69% were sold over asking.
Days on Market for Towamencin Township, PA
How long does it take to sell a home in Towamencin Township, PA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 18 Days | 5 Days | -72.1% |
Summary: Homes in Towamencin Township had an average of 5 days on market in Mar 2024, down by 72.1% compared to last year.
Breakdown of Home Sale Times
16 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 Towamencin Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 16 homes were sold in Towamencin Township; 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.
