Is Palmerton, 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, Palmerton has remained a Seller's Market.
Key Takeaway
Palmerton is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Palmerton, PA
How much do homes in Palmerton, PA cost?
Median Sold Price
$227,500
$143/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Palmerton have sold for 5.3% more than they did a year ago.
Summary: The median home sold price in Palmerton was $227,500 in May 2024, up 5.3% from last year, and the median price per square foot was $143.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $360K | N/A |
| 2 Bedrooms | $143K | $158K | +10.5% |
| 3 Bedrooms | $253.5K | $232.4K | -8.3% |
| 4 Bedrooms | $247K | $255K | +3.2% |
| 5+ Bedrooms | $250K | $245K | -2.0% |
Summary: Palmerton 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 increased by 10.5%, 3 bedroom homes decreased by 8.3%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes decreased by 2%.
Median Sold Price Compared To Nearby Cities
| East Penn Township | $239.9K | $345K | +43.8% |
| Palmerton | $216K | $227.5K | +5.3% |
| Lower Towamensing Township | $254.9K | $250K | -1.9% |
Housing Supply in Palmerton, PA
How many homes are available in Palmerton, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 26 | 27 | +3.8% |
Summary: The Palmerton real estate market had 27 homes for sale in May 2024, a 3.8% increase 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 | 5 | 7 | +40.0% |
| 3 Bedrooms | 17 | 14 | -17.6% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 0 | 2 | +100.0% |
Summary: The Palmerton 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 40%, 3 bedroom homes decreased by 17.6%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 12 | +71.4% |
Asking Price vs. Sold Price
3 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 Palmerton, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in Palmerton in May 2024, up by 71.4% month-over-month. Of the 12 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.
Days on Market for Palmerton, PA
How long does it take to sell a home in Palmerton, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 24 Days | 13 Days | -46.8% |
Summary: Homes in Palmerton had an average of 13 days on market in May 2024, down by 46.8% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Palmerton are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 12 homes were sold in Palmerton; 92% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
