Is Elizabeth, 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, Elizabeth has remained a Seller's Market.
Key Takeaway
Elizabeth is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Elizabeth, PA
How much do homes in Elizabeth, PA cost?
Median Sold Price
$200,000
$147/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Elizabeth have sold for 17.6% more than they did a year ago.
Summary: The median home sold price in Elizabeth was $200,000 in May 2024, up 17.6% from last year, and the median price per square foot was $147.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $43.5K | $150K | +244.8% |
| 2 Bedrooms | $135K | $120.5K | -10.7% |
| 3 Bedrooms | $182.4K | $214.9K | +17.8% |
| 4 Bedrooms | $237K | $275.9K | +16.4% |
| 5+ Bedrooms | $140K | $310K | +121.4% |
Summary: Elizabeth housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 244.8%, 2 bedroom homes decreased by 10.7%, 3 bedroom homes increased by 17.8%, 4 bedroom homes increased by 16.4%, and 5+ bedroom homes increased by 121.4%.
Median Sold Price Compared To Nearby Cities
| Elizabeth | $170K | $200K | +17.6% |
| Elizabeth Township | $175K | $190K | +8.6% |
| Jefferson Hills | $306.2K | $325.1K | +6.2% |
Housing Supply in Elizabeth, PA
How many homes are available in Elizabeth, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 27 | 35 | +29.6% |
Summary: The Elizabeth real estate market had 35 homes for sale in May 2024, a 29.6% increase 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 | 4 | 5 | +25.0% |
| 3 Bedrooms | 13 | 19 | +46.2% |
| 4 Bedrooms | 9 | 10 | +11.1% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Elizabeth 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 increased by 25%, 3 bedroom homes increased by 46.2%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 7 | +75.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Elizabeth, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in Elizabeth in May 2024, up by 75.0% month-over-month. Of the 7 sold homes, 43% were sold under asking, 0% were sold at asking, and 57% were sold over asking.
Days on Market for Elizabeth, PA
How long does it take to sell a home in Elizabeth, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 42 Days | 9 Days | -77.1% |
Summary: Homes in Elizabeth had an average of 9 days on market in May 2024, down by 77.1% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Elizabeth are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 7 homes were sold in Elizabeth; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
