Broomall Real Estate Market Report – November 2024

Broomall’s real estate market shows positive growth, with increased sales, higher prices, and larger homes being sold. November 2024 highlights a stable and active market with consistent pricing across all segments. Join Tim Reeder from the Tim Reeder Team at Coldwell Banker Media for a comprehensive analysis of these trends and year-over-year comparisons.


📹 Watch the Market Update


📊 November 2024 Market Highlights

  • Homes Sold: 13
  • Median Sale Price: $555,000
  • Average Sale Price: $555,500
  • Median Days on Market: 14 (Fastest sale: 3 days; Longest sale: 88 days)
  • Price Range: $417,000 – $785,000
  • Average Price per Sq. Ft.: $288
  • Average Home Size: 2,037 sq ft (Range: 1,226 – 3,960 sq ft)

Year-Over-Year Market Comparison

  • Number of Homes Sold:
    • November 2023: 10
    • November 2024: 13
      A 30% increase in sales volume.
  • Average Sale Price:
    • November 2023: $482,400
    • November 2024: $555,500
      A 15.2% increase in average sale prices.
  • Average Home Size:
    • November 2023: 1,746 sq ft
    • November 2024: 2,037 sq ft
      This year’s homes were typically more spacious.
  • Price per Square Foot:
    • November 2023: $281
    • November 2024: $288
      A modest 2.5% increase in value per square foot.
  • Price Range:
    • November 2023: $365,000 – $655,000
    • November 2024: $417,000 – $785,000
      Both entry points and top-end prices have increased.

Key Market Insights

  • For Buyers:
    The Broomall market offers spacious homes at stable prices, but increased competition means buyers should act swiftly. Working with an experienced agent can help secure the right property.
  • For Sellers:
    With homes selling for an average of 98.4% of their list price, the market remains favorable for sellers. Proper preparation and strategic pricing can maximize results.

Market Opportunities

Broomall’s market reflects steady growth and robust demand across all segments. The increase in sales volume, higher average prices, and larger homes sold underscore the area’s strong appeal. Whether buying or selling, understanding these trends is key to making informed decisions.

Contact the Tim Reeder Team at Coldwell Banker Media to explore how these market trends can help you achieve your real estate goals in Broomall. Let’s make your next move a success!