$6,531 Closing Credit*
$550,000
3,165 SqFt
4 Beds
•2 Full Baths, 1 Partial
Gina Kelechava, Listing Office: RE/MAX Real Estate-Allentown
Is Cheltenham Township, 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 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
$425,000
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$50,000(+13.3%)
Key Takeaway
Homes in Cheltenham Township have sold for 13.3% more than they did a year ago.
Summary: The median home sold price in Cheltenham Township was $425,000 in October 2024, up 13.3% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $126K | $125K | -0.8% |
| 2 Bedrooms | $205K | $260K | +26.8% |
| 3 Bedrooms | $347.5K | $392.5K | +12.9% |
| 4 Bedrooms | $440K | $489.9K | +11.4% |
| 5+ Bedrooms | $520K | $547.5K | +5.3% |
Summary: Cheltenham Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.8%, 2 bedroom homes increased by 26.8%, 3 bedroom homes increased by 12.9%, 4 bedroom homes increased by 11.4%, and 5+ bedroom homes increased by 5.3%.
Median Sold Price Compared To Nearby Cities
| Cheltenham Township | $375K | $425K | +13.3% |
| Abington Township | $395K | $425K | +7.6% |
| Springfield Township | $452.1K | $480K | +6.2% |
| Jenkintown | $456.7K | $483.7K | +5.9% |
| Philadelphia | $260K | $261.8K | +0.7% |
Housing Supply in Cheltenham Township, PA
How many homes are available in Cheltenham Township, PA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 122 | 134 | +9.8% |
Summary: The Cheltenham Township real estate market had 134 homes for sale in October 2024, a 9.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 16 | 16 | 0.0% |
| 3 Bedrooms | 44 | 39 | -11.4% |
| 4 Bedrooms | 41 | 52 | +26.8% |
| 5+ Bedrooms | 19 | 24 | +26.3% |
Summary: The Cheltenham Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 11.4%, 4 bedroom homes increased by 26.8%, and 5+ bedroom homes increased by 26.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 29 | 29 | 0.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cheltenham Township, you could pay more than the asking price. 55.2% of homes here sold above asking price last month.
Summary: A total of 29 homes were sold or pending in Cheltenham Township in October 2024, the same as the previous month. Of the 29 sold homes, 24% were sold under asking, 21% were sold at asking, and 55% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 11 Days | 24 Days | +110.0% |
Summary: Homes in Cheltenham Township had an average of 24 days on market in Oct 2024, up by 110% compared to last year.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cheltenham Township are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 29 homes were sold in Cheltenham Township; 76% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
