$5,641 Closing Credit*
$475,000
1,994 SqFt
4 Beds
•3 Full Baths
Shelby E Reese, Listing Office: Key Realty Partners LLC
Is Cheltenham, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Cheltenham has remained a Seller's Market.
Key Takeaway
Cheltenham is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cheltenham, PA
How much do homes in Cheltenham, PA cost?
Median Sold Price
$425,000
$193/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$77,500(+22.3%)
Key Takeaway
Homes in Cheltenham have sold for 22.3% more than they did a year ago.
Summary: The median home sold price in Cheltenham was $425,000 in October 2024, up 22.3% from last year, and the median price per square foot was $193.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $325K | $287.4K | -11.5% |
| 3 Bedrooms | $323.7K | $320K | -1.2% |
| 4 Bedrooms | $395K | $500K | +26.6% |
| 5+ Bedrooms | $314.5K | $499.5K | +58.8% |
Summary: Cheltenham housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 11.5%, 3 bedroom homes decreased by 1.2%, 4 bedroom homes increased by 26.6%, and 5+ bedroom homes increased by 58.8%.
Median Sold Price Compared To Nearby Neighborhoods
| Cheltenham | $347.5K | $425K | +22.3% |
| Crescentville | $196.4K | $215K | +9.4% |
| Elkins Park | $360K | $390K | +8.3% |
| Lawndale | $249.9K | $268K | +7.2% |
| Fox Chase | $320K | $325.5K | +1.7% |
Housing Supply in Cheltenham, PA
How many homes are available in Cheltenham, PA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 25 | 29 | +16.0% |
Summary: The Cheltenham real estate market had 29 homes for sale in October 2024, a 16.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 2 | -33.3% |
| 3 Bedrooms | 7 | 9 | +28.6% |
| 4 Bedrooms | 15 | 18 | +20.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Cheltenham housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 28.6%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 8 | +100.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cheltenham, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in Cheltenham in October 2024, up by 100.0% month-over-month. Of the 8 sold homes, 0% were sold under asking, 25% were sold at asking, and 75% were sold over asking.
Days on Market for Cheltenham, PA
How long does it take to sell a home in Cheltenham, PA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 12 Days | 6 Days | -49.9% |
Summary: Homes in Cheltenham had an average of 6 days on market in Oct 2024, down by 49.9% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cheltenham are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 8 homes were sold in Cheltenham; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
