Is Hempfield Township, 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, Hempfield Township has remained a Seller's Market.
Key Takeaway
Hempfield Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hempfield Township, PA
How much do homes in Hempfield Township, PA cost?
Median Sold Price
$250,000
$174/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Hempfield Township have sold for 6.4% more than they did a year ago.
Summary: The median home sold price in Hempfield Township was $250,000 in May 2024, up 6.4% from last year, and the median price per square foot was $174.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $27.5K | - | N/A |
| 2 Bedrooms | $143K | $173.5K | +21.3% |
| 3 Bedrooms | $220K | $239.1K | +8.7% |
| 4 Bedrooms | $318K | $374K | +17.6% |
| 5+ Bedrooms | $375K | $388K | +3.5% |
Summary: Hempfield Township 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 21.3%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 17.6%, and 5+ bedroom homes increased by 3.5%.
Median Sold Price Compared To Nearby Cities
| Hempfield Township | $234.9K | $250K | +6.4% |
| Greensburg | $230K | $236.5K | +2.8% |
Housing Supply in Hempfield Township, PA
How many homes are available in Hempfield Township, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 110 | 97 | -11.8% |
Summary: The Hempfield Township real estate market had 97 homes for sale in May 2024, a 11.8% 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 | 13 | 12 | -7.7% |
| 3 Bedrooms | 63 | 55 | -12.7% |
| 4 Bedrooms | 27 | 24 | -11.1% |
| 5+ Bedrooms | 7 | 6 | -14.3% |
Summary: The Hempfield Township 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 7.7%, 3 bedroom homes decreased by 12.7%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 31 | 31 | 0.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hempfield Township, you could pay more than the asking price. 38.7% of homes here sold above asking price last month.
Summary: A total of 31 homes were sold or pending in Hempfield Township in May 2024, the same as the previous month. Of the 31 sold homes, 29% were sold under asking, 32% were sold at asking, and 39% were sold over asking.
Days on Market for Hempfield Township, PA
How long does it take to sell a home in Hempfield Township, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 36 Days | 46 Days | +27.0% |
Summary: Homes in Hempfield Township had an average of 46 days on market in May 2024, up by 27% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Hempfield Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 31 homes were sold in Hempfield Township; 61% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
