19073, Newtown Square, PA

The 19073 zip code of Newtown Square, PA, has a median home value of $128,000 and a median home equity value of $122,000. This is higher than the national median home value of $106,500 and the Pennsylvania median home equity value of $105,200. The majority (79%) of homes in this zip code are owner-occupied while 21% are rented. The average household size in this zip code is 2.7 people.

There has been an increase in the number of homes being purchased in this zip code over the past five years. In 2011, there were 116 homes purchased while in 2013 there were 158 homes purchased. This corresponds to an increase from 0% to 8% over that time period. The majority (81%) of these purchases were single family homes while 19% were condos or apartments. Over the past year there has been an uptick in sales prices for single family homes with an average sale price increasing from $130,000 to $135,000 (+5%). Sales prices for condos and apartments have remained relatively stable with an average sale price of $115,000 (+0%).

There are several factors that could be contributing to this increase in homeownership and home values within this zip code including: low unemployment rates; strong economy; low interest rates; limited inventory; and strong demand from buyers relative to available housing units.