Is New Garden Township, 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, New Garden Township has remained a Seller's Market.
Key Takeaway
New Garden Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in New Garden Township, PA
How much do homes in New Garden Township, PA cost?
Median Sold Price
$581,000
$206/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in New Garden Township have sold for 6.6% more than they did a year ago.
Summary: The median home sold price in New Garden Township was $581,000 in May 2024, up 6.6% from last year, and the median price per square foot was $206.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $385K | $450K | +16.9% |
| 3 Bedrooms | $468.7K | $490K | +4.5% |
| 4 Bedrooms | $625K | $645K | +3.2% |
| 5+ Bedrooms | $691.2K | $780K | +12.8% |
Summary: New Garden Township 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 16.9%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes increased by 12.8%.
Median Sold Price Compared To Nearby Cities
| London Britain Township | $512.5K | $632.5K | +23.4% |
| Avondale | $463K | $550K | +18.8% |
| Landenberg | $545K | $625K | +14.7% |
| New Garden Township | $545K | $581K | +6.6% |
Housing Supply in New Garden Township, PA
How many homes are available in New Garden Township, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 32 | 30 | -6.3% |
Summary: The New Garden Township real estate market had 30 homes for sale in May 2024, a 6.3% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 14 | 10 | -28.6% |
| 4 Bedrooms | 12 | 14 | +16.7% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The New Garden Township 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 28.6%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 6 | -14.3% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in New Garden Township, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in New Garden Township in May 2024, down by 14.3% month-over-month. Of the 6 sold homes, 0% were sold under asking, 33% were sold at asking, and 67% were sold over asking.
Days on Market for New Garden Township, PA
How long does it take to sell a home in New Garden Township, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 15 Days | 6 Days | -57.1% |
Summary: Homes in New Garden Township had an average of 6 days on market in May 2024, down by 57.1% compared to last year.
Breakdown of Home Sale Times
6 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 New Garden Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 6 homes were sold in New Garden Township; 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.
