Is Sinking Spring, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Sinking Spring has remained a Seller's Market.
Key Takeaway
Sinking Spring is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Sinking Spring, PA
How much do homes in Sinking Spring, PA cost?
Median Sold Price
$294,900
$150/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Sinking Spring have sold for 15.6% more than they did a year ago.
Summary: The median home sold price in Sinking Spring was $294,900 in May 2024, up 15.6% from last year, and the median price per square foot was $150.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $92K | $222.5K | +141.9% |
| 3 Bedrooms | $255K | $285K | +11.8% |
| 4 Bedrooms | $479.5K | $500K | +4.3% |
| 5+ Bedrooms | $153K | $405K | +164.7% |
Summary: Sinking Spring 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 increased by 141.9%, 3 bedroom homes increased by 11.8%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes increased by 164.7%.
Median Sold Price Compared To Nearby Cities
| Sinking Spring | $255K | $294.9K | +15.6% |
| South Heidelberg Township | $325.1K | $355K | +9.2% |
| Lower Heidelberg Township | $535K | $549.9K | +2.8% |
| Spring Township | $295K | $299.8K | +1.6% |
Housing Supply in Sinking Spring, PA
How many homes are available in Sinking Spring, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 7 | 0.0% |
Summary: The Sinking Spring real estate market had 7 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 5 | 2 | -60.0% |
| 4 Bedrooms | 0 | 1 | +100.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Sinking Spring 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 increased by 100%, 3 bedroom homes decreased by 60%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 3 | +50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Sinking Spring, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Sinking Spring in May 2024, up by 50.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Sinking Spring, PA
How long does it take to sell a home in Sinking Spring, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 20 Days | 5 Days | -75.0% |
Summary: Homes in Sinking Spring had an average of 5 days on market in May 2024, down by 75% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Sinking Spring are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 3 homes were sold in Sinking Spring; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
