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 May 2023
At the same time last year, Silver Spring Township was a Seller's Market.
Housing Prices in Silver Spring Township, PA
How much do homes in Silver Spring Township, PA cost?
Median Sold Price
$395,000
$193/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Silver Spring Township was $395,000 in May 2024, down 12.2% from last year, and the median price per square foot was $193.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $282.9K | $289.4K | +2.3% |
3 Bedrooms | $365K | $337.5K | -7.5% |
4 Bedrooms | $530K | $544K | +2.6% |
5+ Bedrooms | $801K | $710K | -11.4% |
Summary: Silver Spring 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 2.3%, 3 bedroom homes decreased by 7.5%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes decreased by 11.4%.
Median Sold Price Compared To Nearby Cities
Hampden Township | $335K | $381.6K | +13.9% |
Mechanicsburg | $332.3K | $360.4K | +8.5% |
Middlesex Township | $320.6K | $305.7K | -4.7% |
Silver Spring Township | $450K | $395K | -12.2% |
Housing Supply in Silver Spring Township, PA
How many homes are available in Silver Spring Township, PA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
71 | 89 | +25.4% |
Summary: The Silver Spring Township real estate market had 89 homes for sale in May 2024, a 25.4% 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 | 11 | 8 | -27.3% |
3 Bedrooms | 28 | 35 | +25.0% |
4 Bedrooms | 24 | 33 | +37.5% |
5+ Bedrooms | 8 | 13 | +62.5% |
Summary: The Silver Spring 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 decreased by 27.3%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 37.5%, and 5+ bedroom homes increased by 62.5%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
12 | 11 | -8.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in Silver Spring Township in May 2024, down by 8.3% month-over-month. Of the 11 sold homes, 18% were sold under asking, 27% were sold at asking, and 55% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
30 Days | 11 Days | -61.1% |
Summary: Homes in Silver Spring Township had an average of 11 days on market in May 2024, down by 61.1% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 11 homes were sold in Silver Spring Township; 82% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.