Glen Mills Real Estate Market Report – November 2024

The Glen Mills real estate market continues to evolve, reflecting a combination of strong property values and shifting dynamics. November 2024 shows an intriguing mix of trends, including fewer sales but higher prices per square foot, emphasizing the premium placed on Glen Mills homes.

Join Tim Reeder from the Tim Reeder Team at Coldwell Banker Media for a comprehensive look at this month’s highlights and year-over-year comparisons.


📹 Watch the Market Update


📊 November 2024 Market Highlights

  • Homes Sold: 4
  • Median Sale Price: $820,000
  • Average Sale Price: $897,500
  • Median Days on Market: 8 (Fastest sale: 3 days; Longest sale: 116 days)
  • Price Range: $700,000 – $1,250,000
  • Average Price per Sq. Ft.: $334
  • Average Home Size: 2,700 sq ft (Range: 1,894 – 3,552 sq ft)

Year-Over-Year Market Comparison

  • Number of Homes Sold:
    • November 2023: 12 homes
    • November 2024: 4 homes
      Sales volume has decreased significantly.
  • Average Sale Price:
    • November 2023: $824,400
    • November 2024: $897,500
      An 8.9% increase in average sale prices.
  • Average Home Size:
    • November 2023: 3,239 sq ft
    • November 2024: 2,706 sq ft
      This year’s homes are more compact on average.
  • Price per Square Foot:
    • November 2023: $263
    • November 2024: $334
      A substantial 27% increase in value per square foot.
  • Price Range:
    • November 2023: $350,000 – $1,350,000
    • November 2024: $700,000 – $1,250,000
      The entry price point has risen significantly.

Key Takeaways for Buyers and Sellers

  • For Buyers:
    The market’s lower sales volume and rising price per square foot indicate strong competition for desirable homes. Buyers should be prepared to act quickly, especially for properties in the $700,000 to $1.25 million range.
  • For Sellers:
    Rising property values and higher prices per square foot favor sellers, particularly in the mid-to-high-end segments. If your home is well-presented and competitively priced, it’s likely to attract significant interest.

Market Insights and Opportunities

The Glen Mills market continues to favor sellers, with strong price appreciation and quick sales times for well-positioned homes. The increase in price per square foot emphasizes the growing value of properties, even as average home sizes have decreased. Understanding these trends is essential for navigating this dynamic market.

Contact the Tim Reeder Team at Coldwell Banker Media to discuss how these market trends impact your real estate goals and opportunities in Glen Mills. Let’s make your next move a success!