CENTURY21 Advantage Gold Market Report
New Hope, PA
Single-Family Homes
CENTURY 21 Advantage Gold | customercare@c21ag.com | 215-671-4701
New Hope, PA
Fri Nov 22 2024
This week the median list price for New Hope, PA is $1,400,000 with the market action index hovering around 36. This is less than last month's market action index of 37. Inventory has decreased to 42.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Market Narrative
The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. However, the market is still notably in the Seller’s zone so we haven’t yet seen prices move lower as a result. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.
Real-Time Market Profile
| Median List Price | $1,400,000 | |
| Median Price of New Listings | $685,000 | |
| Per Square Foot | $372 | |
| Average Days on Market | 211 | |
| Median Days on Market | 119 | |
| Price Decreased | 45% | |
| Price Increased | 0% | |
| Relisted | 10% | |
| Inventory | 42 | |
| Median Rent | ||
| Market Action | 36 | |
| Slight Seller's Advantage | ||
In a market where prices are rising mildly, price per square foot is essentially flat. This often implies that new homes coming on the market are pricier, and also larger than older homes. As a result the value one can buy stays the same.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $5,435,000 | 6,580 | 10 - 20 acres | 5 | 6.3 | 58 | 0 | 0 | 164 |
| $1,824,500 | 4,682 | 5 - 10 acres | 5 | 3.5 | 96 | 0 | 1 | 112 |
| $949,000 | 2,536 | 1 - 2.5 acres | 4 | 2.5 | 43 | 1 | 2 | 133 |
| $649,000 | 2,018 | 0.25 - 0.5 acre | 3 | 2 | 63 | 4 | 0 | 70 |