$3,948 Closing Credit*
$332,500
1,433 SqFt
3 Beds
•1 Full Bath, 1 Partial
Lawrence A Aita, Listing Office: RE/MAX Regency Realty
Is Elkins Park, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Elkins Park was a Seller's Market.
Key Takeaway
Elkins Park is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Elkins Park, PA
How much do homes in Elkins Park, PA cost?
Median Sold Price
$390,000
$178/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$30,000(+8.3%)
Key Takeaway
Homes in Elkins Park have sold for 8.3% more than they did a year ago.
Summary: The median home sold price in Elkins Park was $390,000 in October 2024, up 8.3% from last year, and the median price per square foot was $178.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $99.5K | $125K | +25.6% |
| 2 Bedrooms | $205K | $197.5K | -3.7% |
| 3 Bedrooms | $331.5K | $379.6K | +14.5% |
| 4 Bedrooms | $460K | $449.9K | -2.2% |
| 5+ Bedrooms | $520K | $545K | +4.8% |
Summary: Elkins Park housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25.6%, 2 bedroom homes decreased by 3.7%, 3 bedroom homes increased by 14.5%, 4 bedroom homes decreased by 2.2%, and 5+ bedroom homes increased by 4.8%.
Median Sold Price Compared To Nearby Neighborhoods
| Cheltenham | $347.5K | $425K | +22.3% |
| Wyncote | $410K | $460K | +12.2% |
| Elkins Park | $360K | $390K | +8.3% |
Housing Supply in Elkins Park, PA
How many homes are available in Elkins Park, PA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 61 | 64 | +4.9% |
Summary: The Elkins Park real estate market had 64 homes for sale in October 2024, a 4.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 10 | 12 | +20.0% |
| 3 Bedrooms | 24 | 16 | -33.3% |
| 4 Bedrooms | 10 | 17 | +70.0% |
| 5+ Bedrooms | 16 | 17 | +6.3% |
Summary: The Elkins Park housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 20%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes increased by 70%, and 5+ bedroom homes increased by 6.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 17 | 10 | -41.2% |
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 Elkins Park, 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 Elkins Park in October 2024, down by 41.2% 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 Elkins Park, PA
How long does it take to sell a home in Elkins Park, PA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 11 Days | 33 Days | +189.2% |
Summary: Homes in Elkins Park had an average of 33 days on market in Oct 2024, up by 189.2% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Elkins Park are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 10 homes were sold in Elkins Park; 70% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
