Is Bensalem, 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, Bensalem has remained a Seller's Market.
Key Takeaway
Bensalem is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Bensalem, PA
How much do homes in Bensalem, PA cost?
Median Sold Price
$385,187
$230/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Bensalem have sold for 5.5% more than they did a year ago.
Summary: The median home sold price in Bensalem was $385,187 in April 2024, up 5.5% from last year, and the median price per square foot was $230.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $305K | $317.5K | +4.1% |
| 2 Bedrooms | $290.5K | $335K | +15.3% |
| 3 Bedrooms | $351K | $364.9K | +4.0% |
| 4 Bedrooms | $500K | $499.4K | -0.1% |
| 5+ Bedrooms | $615K | $585.5K | -4.8% |
Summary: Bensalem housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.1%, 2 bedroom homes increased by 15.3%, 3 bedroom homes increased by 4%, 4 bedroom homes decreased by 0.1%, and 5+ bedroom homes decreased by 4.8%.
Median Sold Price Compared To Nearby Cities
| Beverly | $245K | $290K | +18.4% |
| Delanco Township | $302K | $333.7K | +10.5% |
| Bensalem Township | $370K | $395K | +6.8% |
| Bensalem | $365K | $385.1K | +5.5% |
Housing Supply in Bensalem, PA
How many homes are available in Bensalem, PA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 81 | 89 | +9.9% |
Summary: The Bensalem real estate market had 89 homes for sale in April 2024, a 9.9% 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 | 12 | 12 | 0.0% |
| 3 Bedrooms | 39 | 45 | +15.4% |
| 4 Bedrooms | 26 | 24 | -7.7% |
| 5+ Bedrooms | 4 | 8 | +100.0% |
Summary: The Bensalem 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 15.4%, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 20 | 27 | +35.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bensalem, you could pay more than the asking price. 59.3% of homes here sold above asking price last month.
Summary: A total of 27 homes were sold or pending in Bensalem in April 2024, up by 35.0% month-over-month. Of the 27 sold homes, 33% were sold under asking, 7% were sold at asking, and 59% were sold over asking.
Days on Market for Bensalem, PA
How long does it take to sell a home in Bensalem, PA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 21 Days | 9 Days | -55.0% |
Summary: Homes in Bensalem had an average of 9 days on market in Apr 2024, down by 55% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Bensalem are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 27 homes were sold in Bensalem; 93% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
