Home Values

Palmer Township Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$201,200

  • 5.1% 1-year change
  • 2.6% 1-year forecast

Market Temperature

Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this city relative to other cities in the same metropolitan area. A particular city may be identified as a good market for buyers in a metro market favorable to sellers overall. Learn more

Cold

Buyers' Market
Sellers' Market

The median home value in Palmer Township is $201,200. Palmer Township home values have gone up 5.1% over the past year and Zillow predicts they will rise 2.6% within the next year. The median list price per square foot in Palmer Township is $121, which is higher than the Allentown Metro average of $114. The median price of homes currently listed in Palmer Township is $224,900 while the median price of homes that sold is $200,550. The median rent price in Palmer Township is $1,750, which is higher than the Allentown Metro median of $1,100.

Foreclosures will be a factor impacting home values in the next several years. In Palmer Township 3.6 homes are foreclosed (per 10,000). This is lower than the Allentown Metro value of 5.1 and also lower than the national value of 4.2

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Palmer Township is 8.4%, which is higher than the national value of 6.4%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Palmer Township homeowners underwater on their mortgage is 18.6%, which is lower than Allentown Metro at 19.2%.

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Relative ZHVI
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Palmer Township Market Overview

Data through Nov 30, 2014
  • $201,200 ZHVI
  • 2.6% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Nov 30, 2015)
  • $224,900 Median listing price
  • $200,550 Median sale price
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Palmer Township Market Health

Data through Nov 30, 2014
  • 3.9/10 Less healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 18.6% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 8.4% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)

Homes foreclosed (per 10,000)

3.6 homes Palmer Township
5.1 homes Allentown Metro
4.2 homes United States
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Nearby Cities

Name Median ZHVI
Lower Nazareth Township $261,300
Forks Township $246,000
Old Orchard $214,700
Name Median ZHVI
Eastlawn Gardens $212,100
Palmer Heights $178,900
Phillipsburg $125,700
Name Median ZHVI
West Easton $124,900
Wilson $109,800
Easton $100,700

Listings & Sales

Data through Nov 30, 2014
  • $121 Median list price / sq ft
  • $119 Median sale price / sq ft
  • No data Listings with price cut
42.3%
Sold below listing
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Palmer Township Rentals

Data through Nov 30, 2014
  • Zillow Rent Index

  • $1,544 Palmer Township
    $1,419 Allentown Metro
    $1,342 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 3.0 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $1,750 Rent list price
  • $0.88 Rent list price / sq ft
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