Is Chestnut Hill, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Chestnut Hill was a Seller's Market.
Key Takeaway
Chestnut Hill is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Chestnut Hill, PA
How much do homes in Chestnut Hill, PA cost?
Median Sold Price
$724,900
$348/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Chestnut Hill have sold for 5.6% more than they did a year ago.
Summary: The median home sold price in Chestnut Hill was $724,900 in May 2024, up 5.6% from last year, and the median price per square foot was $348.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $899.7K | $320K | -64.4% |
| 2 Bedrooms | $937.5K | $418.5K | -55.4% |
| 3 Bedrooms | $500K | $545K | +9.0% |
| 4 Bedrooms | $785K | $1.3M | +65.6% |
| 5+ Bedrooms | $1.0M | $1.2M | +14.3% |
Summary: Chestnut Hill housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 64.4%, 2 bedroom homes decreased by 55.4%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 65.6%, and 5+ bedroom homes increased by 14.3%.
Median Sold Price Compared To Nearby Neighborhoods
| Chestnut Hill | $686.2K | $724.9K | +5.6% |
| Mount Airy | $377.9K | $395K | +4.5% |
| Wyndmoor | $475K | $490K | +3.2% |
| Andorra | $410K | $420K | +2.4% |
| Germantown / Chestnut Hill | $300.5K | $294.9K | -1.8% |
Housing Supply in Chestnut Hill, PA
How many homes are available in Chestnut Hill, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 42 | 52 | +23.8% |
Summary: The Chestnut Hill real estate market had 52 homes for sale in May 2024, a 23.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 3 | 5 | +66.7% |
| 3 Bedrooms | 9 | 12 | +33.3% |
| 4 Bedrooms | 14 | 17 | +21.4% |
| 5+ Bedrooms | 15 | 17 | +13.3% |
Summary: The Chestnut Hill 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 increased by 66.7%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 21.4%, and 5+ bedroom homes increased by 13.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 8 | +14.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Chestnut Hill, you could pay more than the asking price. 62.5% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in Chestnut Hill in May 2024, up by 14.3% month-over-month. Of the 8 sold homes, 25% were sold under asking, 13% were sold at asking, and 63% were sold over asking.
Days on Market for Chestnut Hill, PA
How long does it take to sell a home in Chestnut Hill, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 33 Days | 30 Days | -8.3% |
Summary: Homes in Chestnut Hill had an average of 30 days on market in May 2024, down by 8.3% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Chestnut Hill are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 8 homes were sold in Chestnut Hill; 88% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
