Is Dormont, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Dormont has remained a Seller's Market.
Key Takeaway
Dormont is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Dormont, PA
How much do homes in Dormont, PA cost?
Median Sold Price
$270,200
$162/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Dormont have sold for 7.4% more than they did a year ago.
Summary: The median home sold price in Dormont was $270,200 in May 2024, up 7.4% from last year, and the median price per square foot was $162.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $167.5K | $180K | +7.5% |
| 3 Bedrooms | $230K | $262K | +13.9% |
| 4 Bedrooms | $316.2K | $310K | -2.0% |
| 5+ Bedrooms | $379.9K | $330K | -13.1% |
Summary: Dormont housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.5%, 3 bedroom homes increased by 13.9%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes decreased by 13.1%.
Median Sold Price Compared To Nearby Cities
| Dormont | $251.5K | $270.2K | +7.4% |
| Mount Lebanon Township | $365K | $383.3K | +5.0% |
| Pittsburgh | $230.7K | $241.5K | +4.7% |
Housing Supply in Dormont, PA
How many homes are available in Dormont, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 31 | 26 | -16.1% |
Summary: The Dormont real estate market had 26 homes for sale in May 2024, a 16.1% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 2 | -33.3% |
| 3 Bedrooms | 24 | 17 | -29.2% |
| 4 Bedrooms | 2 | 6 | +200.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Dormont housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes decreased by 29.2%, 4 bedroom homes increased by 200%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 13 | 6 | -53.8% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Dormont, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Dormont in May 2024, down by 53.8% month-over-month. Of the 6 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Dormont, PA
How long does it take to sell a home in Dormont, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 12 Days | 11 Days | -8.8% |
Summary: Homes in Dormont had an average of 11 days on market in May 2024, down by 8.8% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Dormont are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 6 homes were sold in Dormont; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
