Is Cheltenham Township, PA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Cheltenham Township is a seller's market

Buyer's
Market

Difference Since December 2023

Since last year, Cheltenham Township has remained a Seller's Market.

Key Takeaway

Cheltenham Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Cheltenham Township, PA

How much do homes in Cheltenham Township, PA cost?

Median Sold Price

$442,000

$200/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$67,000(+17.9%)

Key Takeaway

Homes in Cheltenham Township have sold for 17.9% more than they did a year ago.

Summary: The median home sold price in Cheltenham Township was $442,000 in December 2024, up 17.9% from last year, and the median price per square foot was $200.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $126K$125K
-0.8%
2 $200K$274.9K
+37.5%
3 $359.5K$406.2K
+13.0%
4 $432.5K$515K
+19.1%
5+ $535.7K$550K
+2.7%

Summary: Cheltenham Township housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.8%, 2 bedroom homes increased by 37.5%, 3 bedroom homes increased by 13%, 4 bedroom homes increased by 19.1%, and 5+ bedroom homes increased by 2.7%.

Median Sold Price Compared To Nearby Cities

Cheltenham Township
+17.9%
Jenkintown
+7.7%
Springfield Township
+7.3%
Abington Township
+5.4%
Philadelphia
+5.0%

Housing Supply in Cheltenham Township, PA

How many homes are available in Cheltenham Township, PA?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
123112-8.9%

Summary: The Cheltenham Township real estate market had 112 homes for sale in December 2024, a 8.9% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 45
+25.0%
2 1414
0.0%
3 3632
-11.1%
4 4435
-20.5%
5+ 2526
+4.0%

Summary: The Cheltenham Township housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 11.1%, 4 bedroom homes decreased by 20.5%, and 5+ bedroom homes increased by 4%.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
3126-16.1%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer50%27%23%

Key Takeaway

If you're buying a home in Cheltenham Township, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 26 homes were sold or pending in Cheltenham Township in December 2024, down by 16.1% month-over-month. Of the 26 sold homes, 23% were sold under asking, 27% were sold at asking, and 50% were sold over asking.

Days on Market for Cheltenham Township, PA

How long does it take to sell a home in Cheltenham Township, PA?

Average Sale Time

Dec 2023Dec 2024CHANGE
31 Days27 Days-14.9%

Summary: Homes in Cheltenham Township had an average of 27 days on market in Dec 2024, down by 14.9% compared to last year.

Breakdown of Home Sale Times

17 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times65%31%

Key Takeaway

Many homes in Cheltenham Township are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 26 homes were sold in Cheltenham Township; 65% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 10 Days Ago

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