Is Bridesburg / Kensington / Richmond, 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, Bridesburg / Kensington / Richmond was a Seller's Market.
Key Takeaway
Bridesburg / Kensington / Richmond is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Bridesburg / Kensington / Richmond, PA
How much do homes in Bridesburg / Kensington / Richmond, PA cost?
Median Sold Price
$227,645
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
The sold price of homes in Bridesburg / Kensington / Richmond has remained the same since last year.
Summary: The median home sold price in Bridesburg / Kensington / Richmond was $227,645 in May 2024, down 0.4% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $268.5K | $339K | +26.3% |
| 2 Bedrooms | $204.3K | $192K | -6.0% |
| 3 Bedrooms | $225K | $228.5K | +1.6% |
| 4 Bedrooms | $445K | $412.5K | -7.3% |
| 5+ Bedrooms | $257.5K | $307.4K | +19.4% |
Summary: Bridesburg / Kensington / Richmond housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 26.3%, 2 bedroom homes decreased by 6%, 3 bedroom homes increased by 1.6%, 4 bedroom homes decreased by 7.3%, and 5+ bedroom homes increased by 19.4%.
Median Sold Price Compared To Nearby Neighborhoods
| Port Richmond | $228.7K | $228K | -0.3% |
| Bridesburg / Kensington / Richmond | $228.6K | $227.6K | -0.4% |
| Harrowgate | $91.5K | $90K | -1.6% |
| Kensington | $279.9K | $269.9K | -3.6% |
Housing Supply in Bridesburg / Kensington / Richmond, PA
How many homes are available in Bridesburg / Kensington / Richmond, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 749 | 804 | +7.3% |
Summary: The Bridesburg / Kensington / Richmond real estate market had 804 homes for sale in May 2024, a 7.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 10 | +66.7% |
| 2 Bedrooms | 196 | 194 | -1.0% |
| 3 Bedrooms | 439 | 487 | +10.9% |
| 4 Bedrooms | 94 | 99 | +5.3% |
| 5+ Bedrooms | 14 | 14 | 0.0% |
Summary: The Bridesburg / Kensington / Richmond housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes decreased by 1%, 3 bedroom homes increased by 10.9%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 86 | 86 | 0.0% |
Asking Price vs. Sold Price
41 Homes Were Sold
Under Asking
25 Homes Were Sold
At Asking
20 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bridesburg / Kensington / Richmond, you may be able to get a good deal. 47.7% of homes here sold below asking price last month.
Summary: A total of 86 homes were sold or pending in Bridesburg / Kensington / Richmond in May 2024, the same as the previous month. Of the 86 sold homes, 48% were sold under asking, 29% were sold at asking, and 23% were sold over asking.
Days on Market for Bridesburg / Kensington / Richmond, PA
How long does it take to sell a home in Bridesburg / Kensington / Richmond, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 51 Days | 62 Days | +21.3% |
Summary: Homes in Bridesburg / Kensington / Richmond had an average of 62 days on market in May 2024, up by 21.3% compared to last year.
Breakdown of Home Sale Times
47 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
23 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Bridesburg / Kensington / Richmond are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 86 homes were sold in Bridesburg / Kensington / Richmond; 55% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 27% of homes were sold over 90 days.
