Is Gap, 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, Gap has remained a Neutral Market.
Key Takeaway
Gap 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 Gap, PA
How much do homes in Gap, PA cost?
Median Sold Price
$359,900
$167/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Gap have sold for 15.3% less than they did a year ago.
Summary: The median home sold price in Gap was $359,900 in April 2024, down 15.3% from last year, and the median price per square foot was $167.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $530K | $285K | -46.2% |
| 3 Bedrooms | $325K | $354.9K | +9.2% |
| 4 Bedrooms | $435K | $439.5K | +1.0% |
| 5+ Bedrooms | $562.5K | $432.5K | -23.1% |
Summary: Gap housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 46.2%, 3 bedroom homes increased by 9.2%, 4 bedroom homes increased by 1%, and 5+ bedroom homes decreased by 23.1%.
Median Sold Price Compared To Nearby Cities
| Christiana | $243.9K | $272.5K | +11.7% |
| Gap | $425K | $359.9K | -15.3% |
Housing Supply in Gap, PA
How many homes are available in Gap, PA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 9 | 6 | -33.3% |
Summary: The Gap real estate market had 6 homes for sale in April 2024, a 33.3% decrease 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 | 1 | 0 | -100.0% |
| 3 Bedrooms | 3 | 4 | +33.3% |
| 4 Bedrooms | 5 | 2 | -60.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Gap 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 decreased by 100%, 3 bedroom homes increased by 33.3%, 4 bedroom homes decreased by 60%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 1 | -75.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Gap, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.
Summary: A total of 1 homes were sold or pending in Gap in April 2024, down by 75.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.
Days on Market for Gap, PA
How long does it take to sell a home in Gap, PA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 7 Days | 95 Days | +1257.1% |
Summary: Homes in Gap had an average of 95 days on market in Apr 2024, up by 1257.1% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in Gap are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 1 homes were sold in Gap; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
