Is Penn Township, 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, Penn Township has remained a Seller's Market.
Key Takeaway
Penn Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Penn Township, PA
How much do homes in Penn Township, PA cost?
Median Sold Price
$340,000
$178/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Penn Township have sold for 10.4% more than they did a year ago.
Summary: The median home sold price in Penn Township was $340,000 in May 2024, up 10.4% from last year, and the median price per square foot was $178.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $36K | N/A |
| 2 Bedrooms | $293.5K | $241K | -17.9% |
| 3 Bedrooms | $286.8K | $308K | +7.4% |
| 4 Bedrooms | $413K | $430K | +4.1% |
| 5+ Bedrooms | $359.7K | $482.5K | +34.1% |
Summary: Penn Township 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 decreased by 17.9%, 3 bedroom homes increased by 7.4%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes increased by 34.1%.
Median Sold Price Compared To Nearby Cities
| Warwick Township | $382.5K | $445K | +16.3% |
| Cornwall | $361.5K | $416.5K | +15.2% |
| 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 Penn Township, PA
How many homes are available in Penn Township, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 21 | 17 | -19.0% |
Summary: The Penn Township real estate market had 17 homes for sale in May 2024, a 19.0% 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 | 3 | 1 | -66.7% |
| 3 Bedrooms | 10 | 10 | 0.0% |
| 4 Bedrooms | 6 | 4 | -33.3% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Penn Township 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 66.7%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 6 | +20.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Penn Township, you could pay more than the asking price. 83.3% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Penn Township in May 2024, up by 20.0% month-over-month. Of the 6 sold homes, 0% were sold under asking, 17% were sold at asking, and 83% were sold over asking.
Days on Market for Penn Township, PA
How long does it take to sell a home in Penn Township, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 9 Days | 6 Days | -34.0% |
Summary: Homes in Penn Township had an average of 6 days on market in May 2024, down by 34% compared to last year.
Breakdown of Home Sale Times
6 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 Penn Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 6 homes were sold in Penn Township; 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.
