Is Lower Milford Township, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Lower Milford Township was a Buyer's Market.
Key Takeaway
Lower Milford Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lower Milford Township, PA
How much do homes in Lower Milford Township, PA cost?
Median Sold Price
$401,000
$194/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lower Milford Township have sold for 10.3% less than they did a year ago.
Summary: The median home sold price in Lower Milford Township was $401,000 in May 2024, down 10.3% from last year, and the median price per square foot was $194.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $230K | - | N/A |
| 2 Bedrooms | $845K | $285K | -66.3% |
| 3 Bedrooms | $370.2K | $395.9K | +6.9% |
| 4 Bedrooms | $525K | $550K | +4.8% |
| 5+ Bedrooms | $700K | $769.9K | +10.0% |
Summary: Lower Milford 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 66.3%, 3 bedroom homes increased by 6.9%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 10%.
Median Sold Price Compared To Nearby Cities
| Upper Milford Township | $384.5K | $432.5K | +12.5% |
| Zionsville | $499K | $529.9K | +6.2% |
| Milford Township | $419.9K | $395K | -5.9% |
| Lower Milford Township | $447K | $401K | -10.3% |
Housing Supply in Lower Milford Township, PA
How many homes are available in Lower Milford Township, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 11 | 9 | -18.2% |
Summary: The Lower Milford Township real estate market had 9 homes for sale in May 2024, a 18.2% decrease 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 | 2 | 1 | -50.0% |
| 3 Bedrooms | 3 | 2 | -33.3% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Lower Milford 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 50%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 0 | 3 | +100.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Lower Milford Township, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.
Summary: A total of 3 homes were sold or pending in Lower Milford Township in May 2024, up by 100.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 67% were sold at asking, and 33% were sold over asking.
Days on Market for Lower Milford Township, PA
How long does it take to sell a home in Lower Milford Township, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 7 Days | 27 Days | +295.2% |
Summary: Homes in Lower Milford Township had an average of 27 days on market in May 2024, up by 295.2% compared to last year.
Breakdown of Home Sale Times
2 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 Lower Milford Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 3 homes were sold in Lower Milford Township; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
