Is Lower Nazareth 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, Lower Nazareth Township was a Neutral Market.
Key Takeaway
Lower Nazareth Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lower Nazareth Township, PA
How much do homes in Lower Nazareth Township, PA cost?
Median Sold Price
$455,000
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lower Nazareth Township have sold for 7.1% more than they did a year ago.
Summary: The median home sold price in Lower Nazareth Township was $455,000 in May 2024, up 7.1% from last year, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $321.2K | - | N/A |
| 3 Bedrooms | $387.4K | $420K | +8.4% |
| 4 Bedrooms | $532.5K | $560K | +5.2% |
| 5+ Bedrooms | $820K | $687.5K | -16.2% |
Summary: Lower Nazareth 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 did not change, 3 bedroom homes increased by 8.4%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes decreased by 16.2%.
Median Sold Price Compared To Nearby Cities
| Lower Nazareth Township | $425K | $455K | +7.1% |
| Bethlehem Township | $314.8K | $335.5K | +6.6% |
| Palmer Township | $339.9K | $360K | +5.9% |
| Nazareth | $395K | $408.7K | +3.5% |
| Upper Nazareth Township | $450K | $352K | -21.8% |
Housing Supply in Lower Nazareth Township, PA
How many homes are available in Lower Nazareth Township, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 15 | 16 | +6.7% |
Summary: The Lower Nazareth Township real estate market had 16 homes for sale in May 2024, a 6.7% 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 4 | 4 | 0.0% |
| 4 Bedrooms | 10 | 10 | 0.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Lower Nazareth 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 3 | +50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lower Nazareth Township, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Lower Nazareth Township in May 2024, up by 50.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Lower Nazareth Township, PA
How long does it take to sell a home in Lower Nazareth Township, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 50 Days | 5 Days | -88.8% |
Summary: Homes in Lower Nazareth Township had an average of 5 days on market in May 2024, down by 88.8% compared to last year.
Breakdown of Home Sale Times
3 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 Lower Nazareth Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 3 homes were sold in Lower Nazareth Township; 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.
