Is Lower Salford 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 Salford Township has remained a Seller's Market.
Key Takeaway
Lower Salford Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lower Salford Township, PA
How much do homes in Lower Salford Township, PA cost?
Median Sold Price
$520,000
$231/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lower Salford Township have sold for 4.1% less than they did a year ago.
Summary: The median home sold price in Lower Salford Township was $520,000 in May 2024, down 4.1% from last year, and the median price per square foot was $231.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $370K | $380K | +2.7% |
| 3 Bedrooms | $400K | $430K | +7.5% |
| 4 Bedrooms | $653K | $625K | -4.3% |
| 5+ Bedrooms | $855K | $790K | -7.6% |
Summary: Lower Salford 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 2.7%, 3 bedroom homes increased by 7.5%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes decreased by 7.6%.
Median Sold Price Compared To Nearby Cities
| Franconia Township | $432.5K | $495K | +14.5% |
| Skippack Township | $452.5K | $488K | +7.8% |
| Harleysville | $485K | $475K | -2.1% |
| Lower Salford Township | $542.4K | $520K | -4.1% |
| Towamencin Township | $455K | $425K | -6.6% |
Housing Supply in Lower Salford Township, PA
How many homes are available in Lower Salford Township, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 44 | 61 | +38.6% |
Summary: The Lower Salford Township real estate market had 61 homes for sale in May 2024, a 38.6% 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 | 3 | 4 | +33.3% |
| 3 Bedrooms | 24 | 28 | +16.7% |
| 4 Bedrooms | 12 | 21 | +75.0% |
| 5+ Bedrooms | 5 | 8 | +60.0% |
Summary: The Lower Salford 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 33.3%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 75%, and 5+ bedroom homes increased by 60%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 11 | +266.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lower Salford Township, expect to pay close to the asking price. 45.5% of homes here sold near the asking price last month.
Summary: A total of 11 homes were sold or pending in Lower Salford Township in May 2024, up by 266.7% month-over-month. Of the 11 sold homes, 27% were sold under asking, 45% were sold at asking, and 27% were sold over asking.
Days on Market for Lower Salford Township, PA
How long does it take to sell a home in Lower Salford Township, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 16 Days | 21 Days | +30.5% |
Summary: Homes in Lower Salford Township had an average of 21 days on market in May 2024, up by 30.5% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lower Salford Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 11 homes were sold in Lower Salford Township; 73% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
