Is New Hope, 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, New Hope was a Seller's Market.
Key Takeaway
New Hope is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in New Hope, PA
How much do homes in New Hope, PA cost?
Median Sold Price
$860,000
$323/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in New Hope have sold for 9.5% more than they did a year ago.
Summary: The median home sold price in New Hope was $860,000 in May 2024, up 9.5% from last year, and the median price per square foot was $323.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $300K | $315K | +5.0% |
| 2 Bedrooms | $535K | $472.5K | -11.7% |
| 3 Bedrooms | $614.5K | $660K | +7.4% |
| 4 Bedrooms | $910K | $1.1M | +23.1% |
| 5+ Bedrooms | $2.3M | $1.6M | -28.1% |
Summary: New Hope housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5%, 2 bedroom homes decreased by 11.7%, 3 bedroom homes increased by 7.4%, 4 bedroom homes increased by 23.1%, and 5+ bedroom homes decreased by 28.1%.
Median Sold Price Compared To Nearby Cities
| Solebury Township | $692.4K | $847.7K | +22.4% |
| New Hope | $785.5K | $860K | +9.5% |
| Lambertville | $542.5K | $567.5K | +4.6% |
Housing Supply in New Hope, PA
How many homes are available in New Hope, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 84 | 106 | +26.2% |
Summary: The New Hope real estate market had 106 homes for sale in May 2024, a 26.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 6 | +20.0% |
| 2 Bedrooms | 9 | 6 | -33.3% |
| 3 Bedrooms | 16 | 24 | +50.0% |
| 4 Bedrooms | 36 | 44 | +22.2% |
| 5+ Bedrooms | 18 | 26 | +44.4% |
Summary: The New Hope housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes increased by 44.4%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 14 | 4 | -71.4% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in New Hope, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in New Hope in May 2024, down by 71.4% month-over-month. Of the 4 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% were sold over asking.
Days on Market for New Hope, PA
How long does it take to sell a home in New Hope, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 24 Days | 9 Days | -60.1% |
Summary: Homes in New Hope had an average of 9 days on market in May 2024, down by 60.1% compared to last year.
Breakdown of Home Sale Times
4 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 New Hope are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 4 homes were sold in New Hope; 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.
