Is Palmyra, 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, Palmyra has remained a Seller's Market.
Key Takeaway
Palmyra is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Palmyra, PA
How much do homes in Palmyra, PA cost?
Median Sold Price
$316,000
$165/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Palmyra have sold for 14.5% more than they did a year ago.
Summary: The median home sold price in Palmyra was $316,000 in May 2024, up 14.5% from last year, and the median price per square foot was $165.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $205K | $234.9K | +14.6% |
| 3 Bedrooms | $235K | $287.5K | +22.3% |
| 4 Bedrooms | $370K | $419.5K | +13.4% |
| 5+ Bedrooms | $400K | $485K | +21.3% |
Summary: Palmyra 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 14.6%, 3 bedroom homes increased by 22.3%, 4 bedroom homes increased by 13.4%, and 5+ bedroom homes increased by 21.3%.
Median Sold Price Compared To Nearby Cities
| Palmyra | $276K | $316K | +14.5% |
| North Londonderry Township | $339K | $386.5K | +14.0% |
| Annville | $315K | $340K | +7.9% |
| Derry Township | $330K | $340K | +3.0% |
| Hershey | $386K | $375K | -2.8% |
Housing Supply in Palmyra, PA
How many homes are available in Palmyra, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 61 | 71 | +16.4% |
Summary: The Palmyra real estate market had 71 homes for sale in May 2024, a 16.4% increase 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 | 9 | 11 | +22.2% |
| 3 Bedrooms | 27 | 34 | +25.9% |
| 4 Bedrooms | 22 | 20 | -9.1% |
| 5+ Bedrooms | 3 | 6 | +100.0% |
Summary: The Palmyra 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 22.2%, 3 bedroom homes increased by 25.9%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 17 | +6.3% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Palmyra, you may be able to get a good deal. 47.1% of homes here sold below asking price last month.
Summary: A total of 17 homes were sold or pending in Palmyra in May 2024, up by 6.3% month-over-month. Of the 17 sold homes, 47% were sold under asking, 6% were sold at asking, and 47% were sold over asking.
Days on Market for Palmyra, PA
How long does it take to sell a home in Palmyra, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 10 Days | 43 Days | +322.7% |
Summary: Homes in Palmyra had an average of 43 days on market in May 2024, up by 322.7% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Palmyra are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 17 homes were sold in Palmyra; 88% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
