$3,859 Closing Credit*
$325,000
2,160 SqFt
Kathleen Halteman, Listing Office: RE/MAX Legacy
Is Morrell Park, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Morrell Park was a Seller's Market.
Key Takeaway
Morrell 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 Morrell Park, PA
How much do homes in Morrell Park, PA cost?
Median Sold Price
$310,000
$227/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$12,500(+4.2%)
Key Takeaway
Homes in Morrell Park have sold for 4.2% more than they did a year ago.
Summary: The median home sold price in Morrell Park was $310,000 in November 2024, up 4.2% from last year, and the median price per square foot was $227.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $250K | $212.5K | -15.0% |
| 3 Bedrooms | $299.4K | $312K | +4.2% |
| 4 Bedrooms | $315K | $350K | +11.1% |
| 5+ Bedrooms | - | - | N/A |
Summary: Morrell Park housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 15%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Modena Park | $300K | $315K | +5.0% |
| Far Northeast Philadelphia | $314.9K | $330K | +4.8% |
| Morrell Park | $297.5K | $310K | +4.2% |
| Torresdale | $264.9K | $270K | +1.9% |
Housing Supply in Morrell Park, PA
How many homes are available in Morrell Park, PA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 35 | 28 | -20.0% |
Summary: The Morrell Park real estate market had 28 homes for sale in November 2024, a 20.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 8 | 8 | 0.0% |
| 3 Bedrooms | 26 | 20 | -23.1% |
| 4 Bedrooms | 1 | 0 | -100.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Morrell Park housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 23.1%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 10 | 4 | -60.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Morrell Park, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Morrell Park in November 2024, down by 60.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Morrell Park, PA
How long does it take to sell a home in Morrell Park, PA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 13 Days | 37 Days | +181.7% |
Summary: Homes in Morrell Park had an average of 37 days on market in Nov 2024, up by 181.7% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Morrell Park are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 4 homes were sold in Morrell Park; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
