Is Manheim 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, Manheim Township has remained a Seller's Market.
Key Takeaway
Manheim Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Manheim Township, PA
How much do homes in Manheim Township, PA cost?
Median Sold Price
$375,500
$194/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Manheim Township have sold for 6.5% more than they did a year ago.
Summary: The median home sold price in Manheim Township was $375,500 in May 2024, up 6.5% from last year, and the median price per square foot was $194.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $195K | $189K | -3.1% |
| 2 Bedrooms | $250K | $250K | 0.0% |
| 3 Bedrooms | $307K | $342K | +11.4% |
| 4 Bedrooms | $482K | $510K | +5.8% |
| 5+ Bedrooms | $837.5K | $550K | -34.3% |
Summary: Manheim Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.1%, 2 bedroom homes did not change, 3 bedroom homes increased by 11.4%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes decreased by 34.3%.
Median Sold Price Compared To Nearby Cities
| East Petersburg | $280K | $354K | +26.4% |
| Lancaster | $274.6K | $310.6K | +13.1% |
| Lancaster Township | $289.9K | $310.3K | +7.0% |
| Manheim Township | $352.5K | $375.5K | +6.5% |
| East Hempfield Township | $390K | $388.2K | -0.4% |
Housing Supply in Manheim Township, PA
How many homes are available in Manheim Township, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 141 | 158 | +12.1% |
Summary: The Manheim Township real estate market had 158 homes for sale in May 2024, a 12.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 11 | 5 | -54.5% |
| 3 Bedrooms | 61 | 62 | +1.6% |
| 4 Bedrooms | 59 | 74 | +25.4% |
| 5+ Bedrooms | 8 | 15 | +87.5% |
Summary: The Manheim 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 54.5%, 3 bedroom homes increased by 1.6%, 4 bedroom homes increased by 25.4%, and 5+ bedroom homes increased by 87.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 25 | 27 | +8.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Manheim Township, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.
Summary: A total of 27 homes were sold or pending in Manheim Township in May 2024, up by 8.0% month-over-month. Of the 27 sold homes, 19% were sold under asking, 26% were sold at asking, and 56% were sold over asking.
Days on Market for Manheim Township, PA
How long does it take to sell a home in Manheim Township, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 17 Days | 18 Days | +3.5% |
Summary: Homes in Manheim Township had an average of 18 days on market in May 2024, up by 3.5% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Manheim Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 27 homes were sold in Manheim Township; 89% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
