Is Devon, 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, Devon has remained a Seller's Market.
Key Takeaway
Devon is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Devon, PA
How much do homes in Devon, PA cost?
Median Sold Price
$899,000
$347/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Devon have sold for 15.3% more than they did a year ago.
Summary: The median home sold price in Devon was $899,000 in May 2024, up 15.3% from last year, and the median price per square foot was $347.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $275K | $305K | +10.9% |
| 2 Bedrooms | $398K | $402.5K | +1.1% |
| 3 Bedrooms | $620K | $705K | +13.7% |
| 4 Bedrooms | $789K | $1.0M | +30.2% |
| 5+ Bedrooms | $1.5M | $1.5M | -1.6% |
Summary: Devon housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.9%, 2 bedroom homes increased by 1.1%, 3 bedroom homes increased by 13.7%, 4 bedroom homes increased by 30.2%, and 5+ bedroom homes decreased by 1.6%.
Median Sold Price Compared To Nearby Cities
| Devon | $779.5K | $899K | +15.3% |
| Wayne | $625K | $675K | +8.0% |
| Tredyffrin Township | $620K | $642.3K | +3.6% |
| Berwyn | $797.5K | $791K | -0.8% |
| Easttown Township | $949K | $910K | -4.1% |
Housing Supply in Devon, PA
How many homes are available in Devon, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 17 | 18 | +5.9% |
Summary: The Devon real estate market had 18 homes for sale in May 2024, a 5.9% 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 | 1 | 0 | -100.0% |
| 3 Bedrooms | 3 | 4 | +33.3% |
| 4 Bedrooms | 7 | 8 | +14.3% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Devon 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 100%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 5 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Devon, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Devon in May 2024, the same as the previous month. Of the 5 sold homes, 20% were sold under asking, 0% were sold at asking, and 80% were sold over asking.
Days on Market for Devon, PA
How long does it take to sell a home in Devon, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 2 Days | 11 Days | +450.0% |
Summary: Homes in Devon had an average of 11 days on market in May 2024, up by 450% compared to last year.
Breakdown of Home Sale Times
4 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 Devon are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 5 homes were sold in Devon; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
