Is Landenberg, 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, Landenberg has remained a Seller's Market.
Key Takeaway
Landenberg is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Landenberg, PA
How much do homes in Landenberg, PA cost?
Median Sold Price
$625,000
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Landenberg have sold for 14.7% more than they did a year ago.
Summary: The median home sold price in Landenberg was $625,000 in May 2024, up 14.7% from last year, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $415K | $475K | +14.5% |
| 3 Bedrooms | $467.5K | $515K | +10.2% |
| 4 Bedrooms | $605K | $632.5K | +4.5% |
| 5+ Bedrooms | $657.5K | $941K | +43.1% |
Summary: Landenberg 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 14.5%, 3 bedroom homes increased by 10.2%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes increased by 43.1%.
Median Sold Price Compared To Nearby Cities
| London Britain Township | $512.5K | $632.5K | +23.4% |
| London Grove Township | $463K | $549.7K | +18.7% |
| Landenberg | $545K | $625K | +14.7% |
| New Garden Township | $545K | $581K | +6.6% |
| Franklin Township | $488.2K | $515K | +5.5% |
Housing Supply in Landenberg, PA
How many homes are available in Landenberg, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 28 | 35 | +25.0% |
Summary: The Landenberg real estate market had 35 homes for sale in May 2024, a 25.0% 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 | 0 | 1 | +100.0% |
| 3 Bedrooms | 8 | 7 | -12.5% |
| 4 Bedrooms | 16 | 22 | +37.5% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Landenberg 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 100%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes increased by 37.5%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 6 | 8 | +33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Landenberg, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in Landenberg in May 2024, up by 33.3% month-over-month. Of the 8 sold homes, 13% were sold under asking, 13% were sold at asking, and 75% were sold over asking.
Days on Market for Landenberg, PA
How long does it take to sell a home in Landenberg, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 9 Days | 8 Days | -14.5% |
Summary: Homes in Landenberg had an average of 8 days on market in May 2024, down by 14.5% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Landenberg are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 8 homes were sold in Landenberg; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
