Is Palmyra, PA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Palmyra is a seller's market

Buyer's
Market

Difference Since September 2023

Since last year, Palmyra has remained a Seller's Market.

Key Takeaway

Palmyra is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Palmyra, PA

How much do homes in Palmyra, PA cost?

Median Sold Price

$320,000

$174/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$17,750(+5.9%)

Key Takeaway

Homes in Palmyra have sold for 5.9% more than they did a year ago.

Summary: The median home sold price in Palmyra was $320,000 in September 2024, up 5.9% from last year, and the median price per square foot was $174.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 --
N/A
2 $220K$235K
+6.8%
3 $263.5K$301K
+14.2%
4 $390K$402K
+3.1%
5+ $509.5K$525K
+3.0%

Summary: Palmyra housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.8%, 3 bedroom homes increased by 14.2%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes increased by 3%.

Median Sold Price Compared To Nearby Cities

Hershey
+7.6%
Palmyra
+5.9%
North Londonderry Township
+3.1%
Annville
+2.9%
Derry Township
-4.1%

Housing Supply in Palmyra, PA

How many homes are available in Palmyra, PA?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
7479+6.8%

Summary: The Palmyra real estate market had 79 homes for sale in September 2024, a 6.8% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 59
+80.0%
3 4645
-2.2%
4 1819
+5.6%
5+ 56
+20.0%

Summary: The Palmyra housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 80%, 3 bedroom homes decreased by 2.2%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
2025+25.0%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

15 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Palmyra, you could pay more than the asking price. 60% of homes here sold above asking price last month.

Summary: A total of 25 homes were sold or pending in Palmyra in September 2024, up by 25.0% month-over-month. Of the 25 sold homes, 24% were sold under asking, 16% were sold at asking, and 60% were sold over asking.

Days on Market for Palmyra, PA

How long does it take to sell a home in Palmyra, PA?

Average Sale Time

Sep 2023Sep 2024CHANGE
6 Days12 Days+100.0%

Summary: Homes in Palmyra had an average of 12 days on market in Sep 2024, up by 100% compared to last year.

Breakdown of Home Sale Times

23 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Palmyra are selling fast, if you're buying plan to act quickly.

Summary: During September 2024, 25 homes were sold in Palmyra; 92% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 30 Days Ago

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