Is Lower Makefield 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, Lower Makefield Township has remained a Seller's Market.
Housing Prices in Lower Makefield Township, PA
How much do homes in Lower Makefield Township, PA cost?
Median Sold Price
$620,500
$258/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lower Makefield Township was $620,500 in May 2024, up 3.4% from last year, and the median price per square foot was $258.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $215K | N/A |
2 Bedrooms | $365K | $402K | +10.1% |
3 Bedrooms | $490K | $543K | +10.8% |
4 Bedrooms | $679K | $767.5K | +13.0% |
5+ Bedrooms | $785K | $797.5K | +1.6% |
Summary: Lower Makefield 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 10.1%, 3 bedroom homes increased by 10.8%, 4 bedroom homes increased by 13%, and 5+ bedroom homes increased by 1.6%.
Median Sold Price Compared To Nearby Cities
Ewing Township | $305K | $340K | +11.5% |
Yardley | $544K | $603.8K | +11.0% |
Morrisville | $325K | $360K | +10.8% |
Lower Makefield Township | $600.3K | $620.5K | +3.4% |
Washington Crossing | $750K | $725K | -3.3% |
Housing Supply in Lower Makefield Township, PA
How many homes are available in Lower Makefield Township, PA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
77 | 102 | +32.5% |
Summary: The Lower Makefield Township real estate market had 102 homes for sale in May 2024, a 32.5% 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 | 15 | 16 | +6.7% |
3 Bedrooms | 32 | 28 | -12.5% |
4 Bedrooms | 25 | 42 | +68.0% |
5+ Bedrooms | 5 | 16 | +220.0% |
Summary: The Lower Makefield 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 6.7%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes increased by 68%, and 5+ bedroom homes increased by 220%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
19 | 27 | +42.1% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
18 Homes Were Sold
Over Asking
Summary: A total of 27 homes were sold or pending in Lower Makefield Township in May 2024, up by 42.1% month-over-month. Of the 27 sold homes, 26% were sold under asking, 7% were sold at asking, and 67% were sold over asking.
Days on Market for Lower Makefield Township, PA
How long does it take to sell a home in Lower Makefield Township, PA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
6 Days | 12 Days | +84.7% |
Summary: Homes in Lower Makefield Township had an average of 12 days on market in May 2024, up by 84.7% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 27 homes were sold in Lower Makefield Township; 93% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.