$3,859 Closing Credit*
$325,000
1,693 SqFt
3 Beds
•1 Full Bath
James Gallagher, Listing Office: Penn One Realty
Is Norristown, 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, Norristown has remained a Seller's Market.
Key Takeaway
Norristown is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Norristown, PA
How much do homes in Norristown, PA cost?
Median Sold Price
$336,875
$203/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$26,475(+8.5%)
Key Takeaway
Homes in Norristown have sold for 8.5% more than they did a year ago.
Summary: The median home sold price in Norristown was $336,875 in October 2024, up 8.5% from last year, and the median price per square foot was $203.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $175K | -5.4% |
| 2 Bedrooms | $250K | $239.5K | -4.2% |
| 3 Bedrooms | $305K | $335K | +9.8% |
| 4 Bedrooms | $425K | $475K | +11.8% |
| 5+ Bedrooms | $418K | $315K | -24.6% |
Summary: Norristown housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.4%, 2 bedroom homes decreased by 4.2%, 3 bedroom homes increased by 9.8%, 4 bedroom homes increased by 11.8%, and 5+ bedroom homes decreased by 24.6%.
Median Sold Price Compared To Nearby Cities
| Plymouth Meeting | $477.5K | $550K | +15.2% |
| Plymouth Township | $466.2K | $520K | +11.5% |
| Norristown | $310.4K | $336.8K | +8.5% |
| East Norriton Township | $350K | $375K | +7.1% |
| West Norriton Township | $320K | $320K | 0.0% |
Housing Supply in Norristown, PA
How many homes are available in Norristown, PA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 163 | 187 | +14.7% |
Summary: The Norristown real estate market had 187 homes for sale in October 2024, a 14.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 16 | 22 | +37.5% |
| 3 Bedrooms | 87 | 99 | +13.8% |
| 4 Bedrooms | 42 | 44 | +4.8% |
| 5+ Bedrooms | 18 | 21 | +16.7% |
Summary: The Norristown 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 37.5%, 3 bedroom homes increased by 13.8%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 32 | 53 | +65.6% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
16 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Norristown, you may be able to get a good deal. 37.7% of homes here sold below asking price last month.
Summary: A total of 53 homes were sold or pending in Norristown in October 2024, up by 65.6% month-over-month. Of the 53 sold homes, 38% were sold under asking, 30% were sold at asking, and 32% were sold over asking.
Days on Market for Norristown, PA
How long does it take to sell a home in Norristown, PA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 15 Days | 29 Days | +92.5% |
Summary: Homes in Norristown had an average of 29 days on market in Oct 2024, up by 92.5% compared to last year.
Breakdown of Home Sale Times
35 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Norristown are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 53 homes were sold in Norristown; 66% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
