Is Cheltenham 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, Cheltenham Township has remained a Seller's Market.
Key Takeaway
Cheltenham Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cheltenham Township, PA
How much do homes in Cheltenham Township, PA cost?
Median Sold Price
$399,000
$187/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Cheltenham Township have sold for 7.2% more than they did a year ago.
Summary: The median home sold price in Cheltenham Township was $399,000 in May 2024, up 7.2% from last year, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $99K | $117.5K | +18.7% |
| 2 Bedrooms | $260K | $205K | -21.2% |
| 3 Bedrooms | $346.5K | $370K | +6.8% |
| 4 Bedrooms | $420K | $465K | +10.7% |
| 5+ Bedrooms | $523K | $499K | -4.6% |
Summary: Cheltenham Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.7%, 2 bedroom homes decreased by 21.2%, 3 bedroom homes increased by 6.8%, 4 bedroom homes increased by 10.7%, and 5+ bedroom homes decreased by 4.6%.
Median Sold Price Compared To Nearby Cities
| Cheltenham Township | $372.3K | $399K | +7.2% |
| Abington Township | $391.3K | $415K | +6.1% |
| Springfield Township | $450K | $475K | +5.6% |
| Jenkintown | $449K | $456.7K | +1.7% |
| Philadelphia | $264K | $258K | -2.3% |
Housing Supply in Cheltenham Township, PA
How many homes are available in Cheltenham Township, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 124 | 130 | +4.8% |
Summary: The Cheltenham Township real estate market had 130 homes for sale in May 2024, a 4.8% increase 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 | 15 | 16 | +6.7% |
| 3 Bedrooms | 38 | 48 | +26.3% |
| 4 Bedrooms | 37 | 38 | +2.7% |
| 5+ Bedrooms | 31 | 26 | -16.1% |
Summary: The Cheltenham Township 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 increased by 6.7%, 3 bedroom homes increased by 26.3%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes decreased by 16.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 28 | 28 | 0.0% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cheltenham Township, you could pay more than the asking price. 39.3% of homes here sold above asking price last month.
Summary: A total of 28 homes were sold or pending in Cheltenham Township in May 2024, the same as the previous month. Of the 28 sold homes, 36% were sold under asking, 25% were sold at asking, and 39% were sold over asking.
Days on Market for Cheltenham Township, PA
How long does it take to sell a home in Cheltenham Township, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 24 Days | 23 Days | -4.9% |
Summary: Homes in Cheltenham Township had an average of 23 days on market in May 2024, down by 4.9% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cheltenham Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 28 homes were sold in Cheltenham Township; 75% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
