Is Lawrenceville, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Lawrenceville was a Seller's Market.
Key Takeaway
Lawrenceville is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Lawrenceville, PA
How much do homes in Lawrenceville, PA cost?
Median Sold Price
$389,950
$265/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lawrenceville have sold for 8.4% more than they did a year ago.
Summary: The median home sold price in Lawrenceville was $389,950 in May 2024, up 8.4% from last year, and the median price per square foot was $265.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $335K | $280.2K | -16.3% |
| 2 Bedrooms | $271K | $277.5K | +2.4% |
| 3 Bedrooms | $424.9K | $493.5K | +16.1% |
| 4 Bedrooms | $494K | $649K | +31.4% |
| 5+ Bedrooms | $351K | - | N/A |
Summary: Lawrenceville housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 16.3%, 2 bedroom homes increased by 2.4%, 3 bedroom homes increased by 16.1%, 4 bedroom homes increased by 31.4%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Central Lawrenceville | $357K | $460K | +28.8% |
| Stanton Heights | $237.5K | $269.1K | +13.3% |
| Lawrenceville | $359.5K | $389.9K | +8.4% |
| Garfield | $215.5K | $230K | +6.7% |
| Upper Lawrenceville | $330K | $300K | -9.1% |
Housing Supply in Lawrenceville, PA
How many homes are available in Lawrenceville, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 103 | 110 | +6.8% |
Summary: The Lawrenceville real estate market had 110 homes for sale in May 2024, a 6.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 8 | +14.3% |
| 2 Bedrooms | 26 | 29 | +11.5% |
| 3 Bedrooms | 50 | 50 | 0.0% |
| 4 Bedrooms | 20 | 23 | +15.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Lawrenceville housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14.3%, 2 bedroom homes increased by 11.5%, 3 bedroom homes remained the same, 4 bedroom homes increased by 15%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 23 | 12 | -47.8% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lawrenceville, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Lawrenceville in May 2024, down by 47.8% month-over-month. Of the 12 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Lawrenceville, PA
How long does it take to sell a home in Lawrenceville, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 59 Days | 73 Days | +23.8% |
Summary: Homes in Lawrenceville had an average of 73 days on market in May 2024, up by 23.8% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lawrenceville are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 12 homes were sold in Lawrenceville; 42% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
