Is Monessen, 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, Monessen was a Seller's Market.
Key Takeaway
Monessen is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Monessen, PA
How much do homes in Monessen, PA cost?
Median Sold Price
$95,000
$96/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Monessen have sold for 7.8% less than they did a year ago.
Summary: The median home sold price in Monessen was $95,000 in May 2024, down 7.8% from last year, and the median price per square foot was $96.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $49K | $30K | -38.8% |
| 2 Bedrooms | $78.9K | $50.4K | -36.1% |
| 3 Bedrooms | $131K | $116K | -11.5% |
| 4 Bedrooms | $117K | $95K | -18.8% |
| 5+ Bedrooms | - | $37K | N/A |
Summary: Monessen housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 38.8%, 2 bedroom homes decreased by 36.1%, 3 bedroom homes decreased by 11.5%, 4 bedroom homes decreased by 18.8%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Rostraver Township | $237.5K | $245K | +3.2% |
| Belle Vernon | $200K | $195K | -2.5% |
| Monessen | $103K | $95K | -7.8% |
| Carroll Township | $237.5K | $214.9K | -9.5% |
| Fallowfield Township | $193.5K | $149.9K | -22.5% |
Housing Supply in Monessen, PA
How many homes are available in Monessen, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 36 | 37 | +2.8% |
Summary: The Monessen real estate market had 37 homes for sale in May 2024, a 2.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 8 | 10 | +25.0% |
| 3 Bedrooms | 17 | 16 | -5.9% |
| 4 Bedrooms | 9 | 8 | -11.1% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Monessen housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 25%, 3 bedroom homes decreased by 5.9%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 6 | +20.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Monessen, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Monessen in May 2024, up by 20.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% were sold over asking.
Days on Market for Monessen, PA
How long does it take to sell a home in Monessen, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 40 Days | 74 Days | +85.6% |
Summary: Homes in Monessen had an average of 74 days on market in May 2024, up by 85.6% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Monessen has remained consistent over time.
Summary: During May 2024, 6 homes were sold in Monessen; 17% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.