Is Prospect Park, 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, Prospect Park was a Buyer's Market.
Key Takeaway
Prospect Park 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 Prospect Park, PA
How much do homes in Prospect Park, PA cost?
Median Sold Price
$280,000
$190/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Prospect Park have sold for 7.5% more than they did a year ago.
Summary: The median home sold price in Prospect Park was $280,000 in April 2024, up 7.5% from last year, and the median price per square foot was $190.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $205K | $180K | -12.2% |
| 3 Bedrooms | $260K | $276.5K | +6.3% |
| 4 Bedrooms | $350K | $305K | -12.9% |
| 5+ Bedrooms | $279.9K | $385K | +37.5% |
Summary: Prospect Park 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 12.2%, 3 bedroom homes increased by 6.3%, 4 bedroom homes decreased by 12.9%, and 5+ bedroom homes increased by 37.5%.
Median Sold Price Compared To Nearby Cities
| Prospect Park | $260.5K | $280K | +7.5% |
| Ridley Township | $285K | $305K | +7.0% |
| Norwood | $251.5K | $262.5K | +4.4% |
| Ridley Park | $289.2K | $300K | +3.7% |
Housing Supply in Prospect Park, PA
How many homes are available in Prospect Park, PA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 11 | 14 | +27.3% |
Summary: The Prospect Park real estate market had 14 homes for sale in April 2024, a 27.3% increase 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 | 1 | 0.0% |
| 3 Bedrooms | 7 | 9 | +28.6% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Prospect Park 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 remained the same, 3 bedroom homes increased by 28.6%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Prospect Park, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Prospect Park in April 2024, the same as the previous month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Prospect Park, PA
How long does it take to sell a home in Prospect Park, PA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 126 Days | 32 Days | -74.2% |
Summary: Homes in Prospect Park had an average of 32 days on market in Apr 2024, down by 74.2% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Prospect Park are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 2 homes were sold in Prospect Park; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
