Is Nazareth, 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, Nazareth has remained a Seller's Market.
Key Takeaway
Nazareth is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Nazareth, PA
How much do homes in Nazareth, PA cost?
Median Sold Price
$408,750
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Nazareth have sold for 3.5% more than they did a year ago.
Summary: The median home sold price in Nazareth was $408,750 in May 2024, up 3.5% 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 | $82K | $126.2K | +53.9% |
| 2 Bedrooms | $261.2K | $265.7K | +1.7% |
| 3 Bedrooms | $325K | $352K | +8.3% |
| 4 Bedrooms | $460K | $527.5K | +14.7% |
| 5+ Bedrooms | $565K | $520K | -8.0% |
Summary: Nazareth housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 53.9%, 2 bedroom homes increased by 1.7%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 14.7%, and 5+ bedroom homes decreased by 8%.
Median Sold Price Compared To Nearby Cities
| Lower Nazareth Township | $425K | $455K | +7.1% |
| Nazareth | $395K | $408.7K | +3.5% |
| Upper Nazareth Township | $450K | $352K | -21.8% |
Housing Supply in Nazareth, PA
How many homes are available in Nazareth, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 68 | 62 | -8.8% |
Summary: The Nazareth real estate market had 62 homes for sale in May 2024, a 8.8% 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 | 4 | 3 | -25.0% |
| 3 Bedrooms | 27 | 22 | -18.5% |
| 4 Bedrooms | 27 | 28 | +3.7% |
| 5+ Bedrooms | 10 | 9 | -10.0% |
Summary: The Nazareth 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 25%, 3 bedroom homes decreased by 18.5%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes decreased by 10%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 11 | 16 | +45.5% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Nazareth, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 16 homes were sold or pending in Nazareth in May 2024, up by 45.5% month-over-month. Of the 16 sold homes, 19% were sold under asking, 31% were sold at asking, and 50% were sold over asking.
Days on Market for Nazareth, PA
How long does it take to sell a home in Nazareth, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 31 Days | 8 Days | -73.3% |
Summary: Homes in Nazareth had an average of 8 days on market in May 2024, down by 73.3% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Nazareth are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 16 homes were sold in Nazareth; 94% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
