$3,563 Closing Credit*
$300,000
1,440 SqFt
3 Beds
•1 Full Bath, 1 Partial
Richard H Welsh, Listing Office: Keller Williams Real Estate-Blue Bell
Is Norristown, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$338,445
$206/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$21,220(+6.7%)
Key Takeaway
Homes in Norristown have sold for 6.7% more than they did a year ago.
Summary: The median home sold price in Norristown was $338,445 in November 2024, up 6.7% from last year, and the median price per square foot was $206.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $175K | -5.4% |
| 2 Bedrooms | $250K | $239K | -4.4% |
| 3 Bedrooms | $309.2K | $335.5K | +8.5% |
| 4 Bedrooms | $430K | $475K | +10.5% |
| 5+ Bedrooms | $402.5K | $325K | -19.3% |
Summary: Norristown housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.4%, 2 bedroom homes decreased by 4.4%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 10.5%, and 5+ bedroom homes decreased by 19.3%.
Median Sold Price Compared To Nearby Cities
| Plymouth Meeting | $495K | $550K | +11.1% |
| Plymouth Township | $485K | $520K | +7.2% |
| Norristown | $317.2K | $338.4K | +6.7% |
| East Norriton Township | $350K | $370K | +5.7% |
| West Norriton Township | $321K | $315K | -1.9% |
Housing Supply in Norristown, PA
How many homes are available in Norristown, PA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 185 | 171 | -7.6% |
Summary: The Norristown real estate market had 171 homes for sale in November 2024, a 7.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 20 | 25 | +25.0% |
| 3 Bedrooms | 101 | 81 | -19.8% |
| 4 Bedrooms | 44 | 46 | +4.5% |
| 5+ Bedrooms | 19 | 18 | -5.3% |
Summary: The Norristown 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 increased by 25%, 3 bedroom homes decreased by 19.8%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes decreased by 5.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 54 | 42 | -22.2% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Norristown, you may be able to get a good deal. 40.5% of homes here sold below asking price last month.
Summary: A total of 42 homes were sold or pending in Norristown in November 2024, down by 22.2% month-over-month. Of the 42 sold homes, 40% were sold under asking, 26% were sold at asking, and 33% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 15 Days | 23 Days | +46.7% |
Summary: Homes in Norristown had an average of 23 days on market in Nov 2024, up by 46.7% compared to last year.
Breakdown of Home Sale Times
31 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
2 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 November 2024, 42 homes were sold in Norristown; 74% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
