Is Lower Providence 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 Providence Township has remained a Seller's Market.
Key Takeaway
Lower Providence Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lower Providence Township, PA
How much do homes in Lower Providence Township, PA cost?
Median Sold Price
$502,500
$230/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lower Providence Township have sold for 4.3% less than they did a year ago.
Summary: The median home sold price in Lower Providence Township was $502,500 in May 2024, down 4.3% from last year, and the median price per square foot was $230.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $292K | $320K | +9.6% |
| 3 Bedrooms | $393K | $407K | +3.6% |
| 4 Bedrooms | $564.9K | $593K | +5.0% |
| 5+ Bedrooms | $682.5K | $608.1K | -10.9% |
Summary: Lower Providence 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 9.6%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 5%, and 5+ bedroom homes decreased by 10.9%.
Median Sold Price Compared To Nearby Cities
| King Of Prussia | $417.5K | $488.7K | +17.1% |
| Schuylkill Township | $573.6K | $662.5K | +15.5% |
| West Norriton Township | $290.7K | $335K | +15.2% |
| Upper Providence Township | $461K | $484.9K | +5.2% |
| Lower Providence Township | $525K | $502.5K | -4.3% |
Housing Supply in Lower Providence Township, PA
How many homes are available in Lower Providence Township, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 54 | 66 | +22.2% |
Summary: The Lower Providence Township real estate market had 66 homes for sale in May 2024, a 22.2% 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 | 5 | 7 | +40.0% |
| 3 Bedrooms | 20 | 24 | +20.0% |
| 4 Bedrooms | 23 | 32 | +39.1% |
| 5+ Bedrooms | 6 | 3 | -50.0% |
Summary: The Lower Providence 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 40%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 39.1%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 11 | 14 | +27.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lower Providence Township, you could pay more than the asking price. 71.4% of homes here sold above asking price last month.
Summary: A total of 14 homes were sold or pending in Lower Providence Township in May 2024, up by 27.3% month-over-month. Of the 14 sold homes, 14% were sold under asking, 14% were sold at asking, and 71% were sold over asking.
Days on Market for Lower Providence Township, PA
How long does it take to sell a home in Lower Providence Township, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 9 Days | 6 Days | -33.5% |
Summary: Homes in Lower Providence Township had an average of 6 days on market in May 2024, down by 33.5% compared to last year.
Breakdown of Home Sale Times
14 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 Providence Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 14 homes were sold in Lower Providence 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.
