Is West Norriton 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, West Norriton Township has remained a Seller's Market.
Key Takeaway
West Norriton Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in West Norriton Township, PA
How much do homes in West Norriton Township, PA cost?
Median Sold Price
$335,000
$210/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in West Norriton Township have sold for 15.2% more than they did a year ago.
Summary: The median home sold price in West Norriton Township was $335,000 in May 2024, up 15.2% from last year, and the median price per square foot was $210.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $175K | $175K | 0.0% |
| 2 Bedrooms | $231K | $260K | +12.6% |
| 3 Bedrooms | $310K | $350K | +12.9% |
| 4 Bedrooms | $430K | $435K | +1.2% |
| 5+ Bedrooms | $435K | $457.5K | +5.2% |
Summary: West Norriton 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 12.6%, 3 bedroom homes increased by 12.9%, 4 bedroom homes increased by 1.2%, and 5+ bedroom homes increased by 5.2%.
Median Sold Price Compared To Nearby Cities
| Norristown | $268.7K | $330K | +22.8% |
| Upper Merion Township | $440K | $521.6K | +18.6% |
| King Of Prussia | $417.5K | $488.7K | +17.1% |
| West Norriton Township | $290.7K | $335K | +15.2% |
| Bridgeport | $353.5K | $311K | -12.0% |
Housing Supply in West Norriton Township, PA
How many homes are available in West Norriton Township, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 54 | 59 | +9.3% |
Summary: The West Norriton Township real estate market had 59 homes for sale in May 2024, a 9.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 23 | 24 | +4.3% |
| 3 Bedrooms | 15 | 15 | 0.0% |
| 4 Bedrooms | 12 | 16 | +33.3% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The West Norriton 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 4.3%, 3 bedroom homes remained the same, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 13 | -18.8% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Norriton Township, you could pay more than the asking price. 53.8% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in West Norriton Township in May 2024, down by 18.8% month-over-month. Of the 13 sold homes, 23% were sold under asking, 23% were sold at asking, and 54% were sold over asking.
Days on Market for West Norriton Township, PA
How long does it take to sell a home in West Norriton Township, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 12 Days | 16 Days | +31.6% |
Summary: Homes in West Norriton Township had an average of 16 days on market in May 2024, up by 31.6% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in West Norriton Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 13 homes were sold in West Norriton Township; 77% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
