Is New Hope, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, New Hope was a Seller's Market.
Key Takeaway
New Hope 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 New Hope, PA
How much do homes in New Hope, PA cost?
Median Sold Price
$850,000
$323/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in New Hope have sold for 6.3% more than they did a year ago.
Summary: The median home sold price in New Hope was $850,000 in April 2024, up 6.3% from last year, and the median price per square foot was $323.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $308.7K | $315K | +2.0% |
| 2 Bedrooms | $428K | $535K | +25.0% |
| 3 Bedrooms | $695K | $675K | -2.9% |
| 4 Bedrooms | $910K | $1.1M | +22.9% |
| 5+ Bedrooms | $2.3M | $1.6M | -28.1% |
Summary: New Hope housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2%, 2 bedroom homes increased by 25%, 3 bedroom homes decreased by 2.9%, 4 bedroom homes increased by 22.9%, and 5+ bedroom homes decreased by 28.1%.
Median Sold Price Compared To Nearby Cities
| West Amwell Township | $535K | $675K | +26.2% |
| Solebury Township | $749.9K | $840K | +12.0% |
| Lambertville | $520K | $573.7K | +10.3% |
| New Hope | $800K | $850K | +6.3% |
Housing Supply in New Hope, PA
How many homes are available in New Hope, PA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 74 | 87 | +17.6% |
Summary: The New Hope real estate market had 87 homes for sale in April 2024, a 17.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 5 | +66.7% |
| 2 Bedrooms | 10 | 10 | 0.0% |
| 3 Bedrooms | 18 | 18 | 0.0% |
| 4 Bedrooms | 25 | 36 | +44.0% |
| 5+ Bedrooms | 18 | 18 | 0.0% |
Summary: The New Hope housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 44%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 15 | 13 | -13.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in New Hope, you may be able to get a good deal. 53.8% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in New Hope in April 2024, down by 13.3% month-over-month. Of the 13 sold homes, 54% were sold under asking, 23% were sold at asking, and 23% were sold over asking.
Days on Market for New Hope, PA
How long does it take to sell a home in New Hope, PA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 54 Days | 20 Days | -61.8% |
Summary: Homes in New Hope had an average of 20 days on market in Apr 2024, down by 61.8% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in New Hope are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 13 homes were sold in New Hope; 77% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
