Is Cheltenham Township, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Cheltenham Township has remained a Seller's Market.
Housing Prices in Cheltenham Township, PA
How much do homes in Cheltenham Township, PA cost?
Median Sold Price
$390,000
$188/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Cheltenham Township was $390,000 in April 2024, up 4.8% from last year, and the median price per square foot was $188.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $99K | $120K | +21.2% |
2 Bedrooms | $249.4K | $219.5K | -12.0% |
3 Bedrooms | $345K | $371K | +7.5% |
4 Bedrooms | $427.5K | $450K | +5.3% |
5+ Bedrooms | $523K | $525K | 0.4% |
Summary: Cheltenham Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21.2%, 2 bedroom homes decreased by 12%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes increased by 0.4%.
Median Sold Price Compared To Nearby Cities
Springfield Township | $443.9K | $475K | +7.0% |
Abington Township | $389.9K | $410K | +5.1% |
Cheltenham Township | $371.9K | $390K | +4.8% |
Jenkintown | $445K | $455K | +2.2% |
Philadelphia | $269.6K | $258.8K | -4.0% |
Housing Supply in Cheltenham Township, PA
How many homes are available in Cheltenham Township, PA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
106 | 119 | +12.3% |
Summary: The Cheltenham Township real estate market had 119 homes for sale in April 2024, a 12.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 3 | -25.0% |
2 Bedrooms | 13 | 15 | +15.4% |
3 Bedrooms | 38 | 36 | -5.3% |
4 Bedrooms | 25 | 34 | +36.0% |
5+ Bedrooms | 26 | 31 | +19.2% |
Summary: The Cheltenham Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 15.4%, 3 bedroom homes decreased by 5.3%, 4 bedroom homes increased by 36%, and 5+ bedroom homes increased by 19.2%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
30 | 28 | -6.7% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 28 homes were sold or pending in Cheltenham Township in April 2024, down by 6.7% month-over-month. Of the 28 sold homes, 25% were sold under asking, 29% were sold at asking, and 46% were sold over asking.
Days on Market for Cheltenham Township, PA
How long does it take to sell a home in Cheltenham Township, PA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
20 Days | 30 Days | +50.2% |
Summary: Homes in Cheltenham Township had an average of 30 days on market in Apr 2024, up by 50.2% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 28 homes were sold in Cheltenham Township; 82% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.