Newtown Square Real Estate Market Report – October 2024

Newtown Square’s real estate market has experienced remarkable growth, particularly in transaction volume and the luxury segment.

Join Tim Reeder from Coldwell Banker Media for an in-depth analysis of these developments and their implications for buyers and sellers.


📹 Watch the Market Update


📊 October 2024 Market Highlights

  • Homes Sold: 14 (up from 3 in October 2023)
  • Average Sale Price: $1,023,595
  • Median Sale Price: $1,087,500
  • Average Days on Market: 42
  • Price Range: $410,000 – $2.2 million
  • Average Home Size: 3,496 sq ft

Substantial Increase in Market Activity Year-Over-Year

The number of homes sold in October 2024 increased significantly to 14, compared to just 3 in the same month last year. This surge indicates a robust demand and a highly active market in Newtown Square.


Trends in Luxury Home Sales and Pricing

The luxury segment has shown continued strength, with the median sale price at $1,087,500 and transactions reaching up to $2.2 million. This trend reflects the area’s appeal to high-end buyers seeking spacious and upscale properties.


Shifts in Property Sizes and Values

The average home size sold was 3,496 square feet, indicating a preference for larger homes. This aligns with the higher price points observed, suggesting that buyers are investing in more expansive properties.


Market Opportunities for Both Buyers and Sellers

  • For Buyers: The diverse price range from $410,000 to $2.2 million offers opportunities across various budgets. However, with an average of 42 days on the market, desirable properties are moving relatively quickly, so timely action is advisable.
  • For Sellers: The significant increase in sales volume and strong pricing in the luxury segment present favorable conditions. Properly marketing and pricing homes can lead to successful and swift transactions.

Newtown Square‘s dynamic real estate market offers promising prospects for both buyers and sellers. Staying informed about current trends is essential for making strategic decisions.