Is King Of Prussia, 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, King Of Prussia has remained a Seller's Market.
Key Takeaway
King Of Prussia is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in King Of Prussia, PA
How much do homes in King Of Prussia, PA cost?
Median Sold Price
$482,000
$250/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in King Of Prussia have sold for 13.4% more than they did a year ago.
Summary: The median home sold price in King Of Prussia was $482,000 in April 2024, up 13.4% from last year, and the median price per square foot was $250.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $215K | $240K | +11.6% |
| 2 Bedrooms | $335K | $300K | -10.4% |
| 3 Bedrooms | $408K | $469.9K | +15.2% |
| 4 Bedrooms | $475K | $526.7K | +10.9% |
| 5+ Bedrooms | $620K | $730K | +17.7% |
Summary: King Of Prussia housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.6%, 2 bedroom homes decreased by 10.4%, 3 bedroom homes increased by 15.2%, 4 bedroom homes increased by 10.9%, and 5+ bedroom homes increased by 17.7%.
Median Sold Price Compared To Nearby Cities
| Upper Merion Township | $440K | $512K | +16.4% |
| West Norriton Township | $290K | $335K | +15.5% |
| King Of Prussia | $425K | $482K | +13.4% |
| Wayne | $609.3K | $688.5K | +13.0% |
| Bridgeport | $345K | $310K | -10.1% |
Housing Supply in King Of Prussia, PA
How many homes are available in King Of Prussia, PA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 51 | 64 | +25.5% |
Summary: The King Of Prussia real estate market had 64 homes for sale in April 2024, a 25.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 12 | 11 | -8.3% |
| 3 Bedrooms | 21 | 28 | +33.3% |
| 4 Bedrooms | 11 | 19 | +72.7% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The King Of Prussia 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 8.3%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 72.7%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 10 | 15 | +50.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in King Of Prussia, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in King Of Prussia in April 2024, up by 50.0% month-over-month. Of the 15 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for King Of Prussia, PA
How long does it take to sell a home in King Of Prussia, PA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 34 Days | 22 Days | -34.5% |
Summary: Homes in King Of Prussia had an average of 22 days on market in Apr 2024, down by 34.5% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in King Of Prussia are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 15 homes were sold in King Of Prussia; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
