Is Prospect Park, 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, Prospect Park has remained a Seller's Market.
Housing Prices in Prospect Park, PA
How much do homes in Prospect Park, PA cost?
Median Sold Price
$283,250
$194/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Prospect Park was $283,250 in May 2024, up 8.9% 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 | - | - | N/A |
2 Bedrooms | $205K | $200K | -2.4% |
3 Bedrooms | $260K | $278.2K | +7.0% |
4 Bedrooms | $337.5K | $320K | -5.2% |
5+ Bedrooms | $279.9K | $385K | +37.5% |
Summary: Prospect Park 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 2.4%, 3 bedroom homes increased by 7%, 4 bedroom homes decreased by 5.2%, and 5+ bedroom homes increased by 37.5%.
Median Sold Price Compared To Nearby Cities
Prospect Park | $260K | $283.2K | +8.9% |
Ridley Township | $285K | $305K | +7.0% |
Norwood | $251.5K | $265K | +5.4% |
Ridley Park | $286.7K | $295K | +2.9% |
Housing Supply in Prospect Park, PA
How many homes are available in Prospect Park, PA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
14 | 15 | +7.1% |
Summary: The Prospect Park real estate market had 15 homes for sale in May 2024, a 7.1% 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 | 1 | 0.0% |
3 Bedrooms | 9 | 10 | +11.1% |
4 Bedrooms | 3 | 3 | 0.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Prospect Park 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 remained the same, 3 bedroom homes increased by 11.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
2 | 3 | +50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 3 homes were sold or pending in Prospect Park in May 2024, up by 50.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for Prospect Park, PA
How long does it take to sell a home in Prospect Park, PA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
14 Days | 16 Days | +12.6% |
Summary: Homes in Prospect Park had an average of 16 days on market in May 2024, up by 12.6% 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
Summary: During May 2024, 3 homes were sold in Prospect Park; 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.