Is Cheltenham, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Cheltenham has remained a Seller's Market.
Housing Prices in Cheltenham, PA
How much do homes in Cheltenham, PA cost?
Median Sold Price
$360,000
$191/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since May 2023.
Summary: The median home sold price in Cheltenham was $360,000 in May 2024, the same as last year, and the median price per square foot was $191.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $299K | $287.4K | -3.8% |
3 Bedrooms | $374.9K | $315K | -16.0% |
4 Bedrooms | $390K | $467.5K | +19.9% |
5+ Bedrooms | $280K | $390K | +39.3% |
Summary: Cheltenham housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 3.8%, 3 bedroom homes decreased by 16%, 4 bedroom homes increased by 19.9%, and 5+ bedroom homes increased by 39.3%.
Median Sold Price Compared To Nearby Neighborhoods
Elkins Park | $339K | $399K | +17.7% |
Crescentville | $196.7K | $207.7K | +5.6% |
Fox Chase | $309.9K | $325.5K | +5.0% |
Cheltenham | $360K | $360K | 0.0% |
Lawndale | $255K | $250K | -2.0% |
Housing Supply in Cheltenham, PA
How many homes are available in Cheltenham, PA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
27 | 22 | -18.5% |
Summary: The Cheltenham real estate market had 22 homes for sale in May 2024, a 18.5% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 3 | 1 | -66.7% |
3 Bedrooms | 9 | 9 | 0.0% |
4 Bedrooms | 14 | 11 | -21.4% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Cheltenham housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 66.7%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 21.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
4 | 5 | +25.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Cheltenham in May 2024, up by 25.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 40% were sold at asking, and 0% were sold over asking.
Days on Market for Cheltenham, PA
How long does it take to sell a home in Cheltenham, PA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
33 Days | 36 Days | +8.8% |
Summary: Homes in Cheltenham had an average of 36 days on market in May 2024, up by 8.8% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 5 homes were sold in Cheltenham; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.