CENTURY21 Advantage Gold Market Report
Elkins Park, PA
Single-Family Homes
CENTURY 21 Advantage Gold | customercare@c21ag.com | 215-671-4701
Elkins Park, PA
Thu Nov 21 2024
This week the median list price for Elkins Park, PA is $549,250 with the market action index hovering around 52. This is less than last month's market action index of 55. Inventory has increased to 24.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Market Narrative
The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Real-Time Market Profile
| Median List Price | $549,250 | |
| Median Price of New Listings | $474,900 | |
| Per Square Foot | $195 | |
| Average Days on Market | 128 | |
| Median Days on Market | 77 | |
| Price Decreased | 50% | |
| Price Increased | 4% | |
| Relisted | 8% | |
| Inventory | 24 | |
| Median Rent | ||
| Market Action | 52 | |
| Strong Seller's Market | ||
While prices have been basically flat, the price per square foot has been heading downward. While not a sign of broad strength in a market, larger homes are coming more available and buyers can see more home for their money.
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 |
|---|---|---|---|---|---|---|---|---|
| $727,000 | 3,731 | 0.5 - 1 acre | 5 | 4.5 | 85 | 1 | 0 | 56 |
| $604,949 | 3,679 | 0.5 - 1 acre | 5 | 3.5 | 80 | 0 | 0 | 84 |
| $479,500 | 2,599 | 0.25 - 0.5 acre | 4 | 2.8 | 76 | 1 | 1 | 35 |
| $444,500 | 1,740 | 6,500 - 8,000 sqft | 3 | 1.8 | 79 | 1 | 1 | 94 |