Is King Of Prussia, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, King Of Prussia was a Seller's Market.
Housing Prices in King Of Prussia, PA
How much do homes in King Of Prussia, PA cost?
Median Sold Price
$488,700
$250/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in King Of Prussia was $488,700 in May 2024, up 17.1% from last year, and the median price per square foot was $250.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $215K | $240K | +11.6% |
2 Bedrooms | $310K | $335K | +8.1% |
3 Bedrooms | $400K | $480K | +20.0% |
4 Bedrooms | $475K | $530.4K | +11.7% |
5+ Bedrooms | $620K | $757.5K | +22.2% |
Summary: King Of Prussia housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.6%, 2 bedroom homes increased by 8.1%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 11.7%, and 5+ bedroom homes increased by 22.2%.
Median Sold Price Compared To Nearby Cities
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% |
Wayne | $625K | $675K | +8.0% |
Bridgeport | $353.5K | $311K | -12.0% |
Housing Supply in King Of Prussia, PA
How many homes are available in King Of Prussia, PA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
65 | 71 | +9.2% |
Summary: The King Of Prussia real estate market had 71 homes for sale in May 2024, a 9.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 3 | -25.0% |
2 Bedrooms | 13 | 11 | -15.4% |
3 Bedrooms | 28 | 35 | +25.0% |
4 Bedrooms | 18 | 21 | +16.7% |
5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The King Of Prussia housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes decreased by 15.4%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
15 | 9 | -40.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in King Of Prussia in May 2024, down by 40.0% month-over-month. Of the 9 sold homes, 11% were sold under asking, 0% were sold at asking, and 89% were sold over asking.
Days on Market for King Of Prussia, PA
How long does it take to sell a home in King Of Prussia, PA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
16 Days | 5 Days | -66.1% |
Summary: Homes in King Of Prussia had an average of 5 days on market in May 2024, down by 66.1% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 9 homes were sold in King Of Prussia; 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.