Is Berwyn, 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, Berwyn has remained a Seller's Market.
Key Takeaway
Berwyn is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Berwyn, PA
How much do homes in Berwyn, PA cost?
Median Sold Price
$791,000
$292/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Berwyn have sold for 0.8% less than they did a year ago.
Summary: The median home sold price in Berwyn was $791,000 in May 2024, down 0.8% from last year, and the median price per square foot was $292.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $899K | $487.5K | -45.8% |
| 3 Bedrooms | $632.5K | $634K | 0.2% |
| 4 Bedrooms | $825K | $830K | +0.6% |
| 5+ Bedrooms | $1.5M | $1.7M | +15.6% |
Summary: Berwyn 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 45.8%, 3 bedroom homes increased by 0.2%, 4 bedroom homes increased by 0.6%, and 5+ bedroom homes increased by 15.6%.
Median Sold Price Compared To Nearby Cities
| Devon | $779.5K | $899K | +15.3% |
| Paoli | $460K | $492.5K | +7.1% |
| Tredyffrin Township | $620K | $642.3K | +3.6% |
| Berwyn | $797.5K | $791K | -0.8% |
| Easttown Township | $949K | $910K | -4.1% |
Housing Supply in Berwyn, PA
How many homes are available in Berwyn, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 47 | 53 | +12.8% |
Summary: The Berwyn real estate market had 53 homes for sale in May 2024, a 12.8% 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 | 2 | +100.0% |
| 3 Bedrooms | 16 | 18 | +12.5% |
| 4 Bedrooms | 21 | 23 | +9.5% |
| 5+ Bedrooms | 9 | 10 | +11.1% |
Summary: The Berwyn 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 increased by 100%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 9.5%, and 5+ bedroom homes increased by 11.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 12 | 10 | -16.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Berwyn, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in Berwyn in May 2024, down by 16.7% month-over-month. Of the 10 sold homes, 30% were sold under asking, 10% were sold at asking, and 60% were sold over asking.
Days on Market for Berwyn, PA
How long does it take to sell a home in Berwyn, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 16 Days | 11 Days | -31.7% |
Summary: Homes in Berwyn had an average of 11 days on market in May 2024, down by 31.7% compared to last year.
Breakdown of Home Sale Times
9 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 Berwyn are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 10 homes were sold in Berwyn; 90% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
