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.
Housing Prices in Penn Township, PA
How much do homes in Penn Township, PA cost?
Median Sold Price
$274,900
$162/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Penn Township was $274,900 in May 2024, up 3.7% from last year, and the median price per square foot was $162.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $82.5K | $85.5K | +3.6% |
2 Bedrooms | $165K | $176.4K | +6.9% |
3 Bedrooms | $260K | $274.9K | +5.7% |
4 Bedrooms | $389.4K | $320.5K | -17.7% |
5+ Bedrooms | $405K | $510K | +25.9% |
Summary: Penn Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.6%, 2 bedroom homes increased by 6.9%, 3 bedroom homes increased by 5.7%, 4 bedroom homes decreased by 17.7%, and 5+ bedroom homes increased by 25.9%.
Median Sold Price Compared To Nearby Cities
West Manheim Township | $292.4K | $358.2K | +22.5% |
Heidelberg Township | $308K | $374K | +21.4% |
Hanover | $250K | $273.3K | +9.4% |
Penn Township | $265K | $274.9K | +3.7% |
Conewago Township | $259K | $255.5K | -1.4% |
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 |
---|---|---|
100 | 97 | -3.0% |
Summary: The Penn Township real estate market had 97 homes for sale in May 2024, a 3.0% 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 | 13 | 10 | -23.1% |
3 Bedrooms | 67 | 68 | +1.5% |
4 Bedrooms | 19 | 16 | -15.8% |
5+ Bedrooms | 0 | 2 | +100.0% |
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 23.1%, 3 bedroom homes increased by 1.5%, 4 bedroom homes decreased by 15.8%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
18 | 21 | +16.7% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 21 homes were sold or pending in Penn Township in May 2024, up by 16.7% month-over-month. Of the 21 sold homes, 19% were sold under asking, 29% were sold at asking, and 52% 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 |
---|---|---|
11 Days | 19 Days | +69.3% |
Summary: Homes in Penn Township had an average of 19 days on market in May 2024, up by 69.3% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 21 homes were sold in Penn Township; 76% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.