Is Trappe, 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, Trappe has remained a Seller's Market.
Key Takeaway
Trappe is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Trappe, PA
How much do homes in Trappe, PA cost?
Median Sold Price
$395,000
$225/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Trappe have sold for 0.6% less than they did a year ago.
Summary: The median home sold price in Trappe was $395,000 in May 2024, down 0.6% from last year, and the median price per square foot was $225.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $327.4K | $372.1K | +13.6% |
| 3 Bedrooms | $355K | $378.4K | +6.6% |
| 4 Bedrooms | $637.9K | $752.4K | +18.0% |
| 5+ Bedrooms | $624.9K | $647.5K | +3.6% |
Summary: Trappe 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 13.6%, 3 bedroom homes increased by 6.6%, 4 bedroom homes increased by 18%, and 5+ bedroom homes increased by 3.6%.
Median Sold Price Compared To Nearby Cities
| Perkiomen Township | $400K | $435K | +8.8% |
| Upper Providence Township | $461K | $484.9K | +5.2% |
| Trappe | $397.5K | $395K | -0.6% |
| Collegeville | $539.8K | $505K | -6.4% |
Housing Supply in Trappe, PA
How many homes are available in Trappe, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 12 | 8 | -33.3% |
Summary: The Trappe real estate market had 8 homes for sale in May 2024, a 33.3% decrease 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 | 2 | 2 | 0.0% |
| 3 Bedrooms | 2 | 0 | -100.0% |
| 4 Bedrooms | 8 | 6 | -25.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Trappe 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 remained the same, 3 bedroom homes decreased by 100%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 4 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Trappe, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Trappe in May 2024, up by 100.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% were sold over asking.
Days on Market for Trappe, PA
How long does it take to sell a home in Trappe, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 11 Days | 7 Days | -37.5% |
Summary: Homes in Trappe had an average of 7 days on market in May 2024, down by 37.5% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Trappe are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 4 homes were sold in Trappe; 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.
