Is Manheim, 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, Manheim has remained a Seller's Market.
Key Takeaway
Manheim is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Manheim, PA
How much do homes in Manheim, PA cost?
Median Sold Price
$311,500
$173/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Manheim have sold for 6.5% more than they did a year ago.
Summary: The median home sold price in Manheim was $311,500 in May 2024, up 6.5% from last year, and the median price per square foot was $173.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $240K | $243.5K | +1.5% |
| 3 Bedrooms | $280K | $285K | +1.8% |
| 4 Bedrooms | $403K | $425K | +5.5% |
| 5+ Bedrooms | $307K | $395K | +28.7% |
Summary: Manheim 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 1.5%, 3 bedroom homes increased by 1.8%, 4 bedroom homes increased by 5.5%, and 5+ bedroom homes increased by 28.7%.
Median Sold Price Compared To Nearby Cities
| Penn Township | $307.9K | $340K | +10.4% |
| Rapho Township | $352.5K | $378.4K | +7.4% |
| Manheim | $292.6K | $311.5K | +6.5% |
Housing Supply in Manheim, PA
How many homes are available in Manheim, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 39 | 36 | -7.7% |
Summary: The Manheim real estate market had 36 homes for sale in May 2024, a 7.7% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 5 | 2 | -60.0% |
| 3 Bedrooms | 20 | 20 | 0.0% |
| 4 Bedrooms | 11 | 10 | -9.1% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Manheim 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 decreased by 60%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 8 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Manheim, 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 Manheim in May 2024, the same as the previous month. Of the 8 sold homes, 0% were sold under asking, 25% were sold at asking, and 75% were sold over asking.
Days on Market for Manheim, PA
How long does it take to sell a home in Manheim, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 13 Days | 17 Days | +22.9% |
Summary: Homes in Manheim had an average of 17 days on market in May 2024, up by 22.9% compared to last year.
Breakdown of Home Sale Times
7 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 Manheim are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 8 homes were sold in Manheim; 88% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
