Is East Hempfield 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, East Hempfield Township has remained a Seller's Market.
Key Takeaway
East Hempfield Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in East Hempfield Township, PA
How much do homes in East Hempfield Township, PA cost?
Median Sold Price
$388,266
$193/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
The sold price of homes in East Hempfield Township has remained the same since last year.
Summary: The median home sold price in East Hempfield Township was $388,266 in May 2024, down 0.4% from last year, and the median price per square foot was $193.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $301K | $280K | -7.0% |
| 3 Bedrooms | $310K | $352.5K | +13.7% |
| 4 Bedrooms | $457.4K | $460K | +0.6% |
| 5+ Bedrooms | $547K | $666.2K | +21.8% |
Summary: East Hempfield 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 7%, 3 bedroom homes increased by 13.7%, 4 bedroom homes increased by 0.6%, and 5+ bedroom homes increased by 21.8%.
Median Sold Price Compared To Nearby Cities
| East Petersburg | $280K | $354K | +26.4% |
| Lancaster Township | $289.9K | $310.3K | +7.0% |
| Manheim Township | $352.5K | $375.5K | +6.5% |
| East Hempfield Township | $390K | $388.2K | -0.4% |
| Landisville | $407.5K | $395K | -3.1% |
Housing Supply in East Hempfield Township, PA
How many homes are available in East Hempfield Township, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 55 | 65 | +18.2% |
Summary: The East Hempfield Township real estate market had 65 homes for sale in May 2024, a 18.2% 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 | 3 | 4 | +33.3% |
| 3 Bedrooms | 23 | 30 | +30.4% |
| 4 Bedrooms | 23 | 23 | 0.0% |
| 5+ Bedrooms | 6 | 8 | +33.3% |
Summary: The East Hempfield 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 increased by 33.3%, 3 bedroom homes increased by 30.4%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 14 | -12.5% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
4 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in East Hempfield Township, you could pay more than the asking price. 64.3% of homes here sold above asking price last month.
Summary: A total of 14 homes were sold or pending in East Hempfield Township in May 2024, down by 12.5% month-over-month. Of the 14 sold homes, 7% were sold under asking, 29% were sold at asking, and 64% were sold over asking.
Days on Market for East Hempfield Township, PA
How long does it take to sell a home in East Hempfield Township, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 17 Days | 6 Days | -62.5% |
Summary: Homes in East Hempfield Township had an average of 6 days on market in May 2024, down by 62.5% compared to last year.
Breakdown of Home Sale Times
13 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 East Hempfield Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 14 homes were sold in East Hempfield Township; 93% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
