Is Port Richmond, 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, Port Richmond was a Seller's Market.
Key Takeaway
Port Richmond 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 Port Richmond, PA
How much do homes in Port Richmond, PA cost?
Median Sold Price
$228,000
$212/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
The sold price of homes in Port Richmond has remained the same since last year.
Summary: The median home sold price in Port Richmond was $228,000 in May 2024, down 0.3% from last year, and the median price per square foot was $212.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $190K | +2.7% |
| 2 Bedrooms | $185K | $186.5K | +0.8% |
| 3 Bedrooms | $255K | $258K | +1.2% |
| 4 Bedrooms | $500K | $402.5K | -19.5% |
| 5+ Bedrooms | $235K | $257.5K | +9.6% |
Summary: Port Richmond housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.7%, 2 bedroom homes increased by 0.8%, 3 bedroom homes increased by 1.2%, 4 bedroom homes decreased by 19.5%, and 5+ bedroom homes increased by 9.6%.
Median Sold Price Compared To Nearby Neighborhoods
| Bridesburg | $214.9K | $230K | +7.0% |
| Port Richmond | $228.7K | $228K | -0.3% |
| Bridesburg / Kensington / Richmond | $228.6K | $227.6K | -0.4% |
| Harrowgate | $91.5K | $90K | -1.6% |
| Kensington | $279.9K | $269.9K | -3.6% |
Housing Supply in Port Richmond, PA
How many homes are available in Port Richmond, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 101 | 115 | +13.9% |
Summary: The Port Richmond real estate market had 115 homes for sale in May 2024, a 13.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 27 | 30 | +11.1% |
| 3 Bedrooms | 60 | 69 | +15.0% |
| 4 Bedrooms | 9 | 11 | +22.2% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Port Richmond 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 11.1%, 3 bedroom homes increased by 15%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 18 | +125.0% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Port Richmond, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in Port Richmond in May 2024, up by 125.0% month-over-month. Of the 18 sold homes, 56% were sold under asking, 22% were sold at asking, and 22% were sold over asking.
Days on Market for Port Richmond, PA
How long does it take to sell a home in Port Richmond, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 49 Days | 55 Days | +11.3% |
Summary: Homes in Port Richmond had an average of 55 days on market in May 2024, up by 11.3% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Port Richmond are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 18 homes were sold in Port Richmond; 44% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 28% of homes were sold over 90 days.
