Is North Wales, 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, North Wales has remained a Seller's Market.
Key Takeaway
North Wales is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in North Wales, PA
How much do homes in North Wales, PA cost?
Median Sold Price
$470,000
$245/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in North Wales have sold for 11.8% more than they did a year ago.
Summary: The median home sold price in North Wales was $470,000 in May 2024, up 11.8% from last year, and the median price per square foot was $245.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $186K | $220K | +18.3% |
| 2 Bedrooms | $315.7K | $286.5K | -9.3% |
| 3 Bedrooms | $365.5K | $455K | +24.5% |
| 4 Bedrooms | $675K | $735K | +8.9% |
| 5+ Bedrooms | $520K | $793K | +52.5% |
Summary: North Wales housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.3%, 2 bedroom homes decreased by 9.3%, 3 bedroom homes increased by 24.5%, 4 bedroom homes increased by 8.9%, and 5+ bedroom homes increased by 52.5%.
Median Sold Price Compared To Nearby Cities
| Upper Gwynedd Township | $442.5K | $515.4K | +16.5% |
| North Wales | $420.5K | $470K | +11.8% |
Housing Supply in North Wales, PA
How many homes are available in North Wales, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 67 | 61 | -9.0% |
Summary: The North Wales real estate market had 61 homes for sale in May 2024, a 9.0% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 17 | 9 | -47.1% |
| 3 Bedrooms | 23 | 21 | -8.7% |
| 4 Bedrooms | 17 | 25 | +47.1% |
| 5+ Bedrooms | 7 | 4 | -42.9% |
Summary: The North Wales housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 47.1%, 3 bedroom homes decreased by 8.7%, 4 bedroom homes increased by 47.1%, and 5+ bedroom homes decreased by 42.9%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 22 | 13 | -40.9% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in North Wales, you could pay more than the asking price. 76.9% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in North Wales in May 2024, down by 40.9% month-over-month. Of the 13 sold homes, 8% were sold under asking, 15% were sold at asking, and 77% were sold over asking.
Days on Market for North Wales, PA
How long does it take to sell a home in North Wales, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 5 Days | 6 Days | +24.8% |
Summary: Homes in North Wales had an average of 6 days on market in May 2024, up by 24.8% compared to last year.
Breakdown of Home Sale Times
13 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 North Wales are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 13 homes were sold in North Wales; 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.
