Is Silver Spring Township, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Silver Spring Township was a Seller's Market.
Key Takeaway
Silver Spring Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Silver Spring Township, PA
How much do homes in Silver Spring Township, PA cost?
Median Sold Price
$400,000
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Silver Spring Township have sold for 7% less than they did a year ago.
Summary: The median home sold price in Silver Spring Township was $400,000 in April 2024, down 7% from last year, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $291.4K | $289.9K | -0.5% |
| 3 Bedrooms | $350K | $340K | -2.9% |
| 4 Bedrooms | $530K | $538K | +1.5% |
| 5+ Bedrooms | $793K | $735K | -7.3% |
Summary: Silver Spring Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 0.5%, 3 bedroom homes decreased by 2.9%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes decreased by 7.3%.
Median Sold Price Compared To Nearby Cities
| Hampden Township | $325K | $375K | +15.4% |
| Mechanicsburg | $321K | $359.9K | +12.1% |
| Middlesex Township | $320.6K | $300.3K | -6.3% |
| Silver Spring Township | $429.9K | $400K | -7.0% |
Housing Supply in Silver Spring Township, PA
How many homes are available in Silver Spring Township, PA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 70 | 68 | -2.9% |
Summary: The Silver Spring Township real estate market had 68 homes for sale in April 2024, a 2.9% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 12 | 10 | -16.7% |
| 3 Bedrooms | 24 | 26 | +8.3% |
| 4 Bedrooms | 27 | 24 | -11.1% |
| 5+ Bedrooms | 7 | 8 | +14.3% |
Summary: The Silver Spring Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 16.7%, 3 bedroom homes increased by 8.3%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 21 | 11 | -47.6% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Silver Spring Township, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Silver Spring Township in April 2024, down by 47.6% month-over-month. Of the 11 sold homes, 45% were sold under asking, 9% were sold at asking, and 45% were sold over asking.
Days on Market for Silver Spring Township, PA
How long does it take to sell a home in Silver Spring Township, PA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 34 Days | 39 Days | +14.2% |
Summary: Homes in Silver Spring Township had an average of 39 days on market in Apr 2024, up by 14.2% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Silver Spring Township are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 11 homes were sold in Silver Spring Township; 73% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 27% of homes were sold over 90 days.
