Is Upper Merion Township, 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, Upper Merion Township has remained a Seller's Market.
Key Takeaway
Upper Merion Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Upper Merion Township, PA
How much do homes in Upper Merion Township, PA cost?
Median Sold Price
$512,000
$252/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Upper Merion Township have sold for 16.4% more than they did a year ago.
Summary: The median home sold price in Upper Merion Township was $512,000 in April 2024, up 16.4% from last year, and the median price per square foot was $252.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $215K | $240K | +11.6% |
| 2 Bedrooms | $327.5K | $300K | -8.4% |
| 3 Bedrooms | $425K | $500.5K | +17.8% |
| 4 Bedrooms | $490.5K | $549K | +11.9% |
| 5+ Bedrooms | $820K | $838K | +2.2% |
Summary: Upper Merion Township 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 8.4%, 3 bedroom homes increased by 17.8%, 4 bedroom homes increased by 11.9%, and 5+ bedroom homes increased by 2.2%.
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 Upper Merion Township, PA
How many homes are available in Upper Merion Township, PA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 71 | 88 | +23.9% |
Summary: The Upper Merion Township real estate market had 88 homes for sale in April 2024, a 23.9% 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 | 14 | 13 | -7.1% |
| 3 Bedrooms | 30 | 39 | +30.0% |
| 4 Bedrooms | 19 | 27 | +42.1% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Upper Merion Township 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 7.1%, 3 bedroom homes increased by 30%, 4 bedroom homes increased by 42.1%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 14 | 25 | +78.6% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Upper Merion Township, you could pay more than the asking price. 52% of homes here sold above asking price last month.
Summary: A total of 25 homes were sold or pending in Upper Merion Township in April 2024, up by 78.6% month-over-month. Of the 25 sold homes, 36% were sold under asking, 12% were sold at asking, and 52% were sold over asking.
Days on Market for Upper Merion Township, PA
How long does it take to sell a home in Upper Merion Township, PA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 23 Days | 17 Days | -24.0% |
Summary: Homes in Upper Merion Township had an average of 17 days on market in Apr 2024, down by 24% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Upper Merion Township are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 25 homes were sold in Upper Merion Township; 76% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
