Is Elverson, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Elverson was a Neutral Market.
Key Takeaway
Elverson is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Elverson, PA
How much do homes in Elverson, PA cost?
Median Sold Price
$450,000
$216/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Elverson have sold for 20.8% more than they did a year ago.
Summary: The median home sold price in Elverson was $450,000 in May 2024, up 20.8% from last year, and the median price per square foot was $216.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $1.2M | - | N/A |
| 2 Bedrooms | $319K | - | N/A |
| 3 Bedrooms | $327.5K | $380K | +16.0% |
| 4 Bedrooms | $448.2K | $573.7K | +28.0% |
| 5+ Bedrooms | $699K | $770K | +10.2% |
Summary: Elverson 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 did not change, 3 bedroom homes increased by 16%, 4 bedroom homes increased by 28%, and 5+ bedroom homes increased by 10.2%.
Median Sold Price Compared To Nearby Cities
| Elverson | $372.4K | $450K | +20.8% |
| Caernarvon Township | $300K | $337.5K | +12.5% |
Housing Supply in Elverson, PA
How many homes are available in Elverson, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 17 | 22 | +29.4% |
Summary: The Elverson real estate market had 22 homes for sale in May 2024, a 29.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 10 | 14 | +40.0% |
| 4 Bedrooms | 5 | 6 | +20.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Elverson 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 remained the same, 3 bedroom homes increased by 40%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 5 | +25.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Elverson, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Elverson in May 2024, up by 25.0% month-over-month. Of the 5 sold homes, 0% were sold under asking, 40% were sold at asking, and 60% were sold over asking.
Days on Market for Elverson, PA
How long does it take to sell a home in Elverson, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 3 Days | 14 Days | +380.0% |
Summary: Homes in Elverson had an average of 14 days on market in May 2024, up by 380% compared to last year.
Breakdown of Home Sale Times
4 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 Elverson are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 5 homes were sold in Elverson; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
