Is South Fayette 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, South Fayette Township has remained a Seller's Market.
Housing Prices in South Fayette Township, PA
How much do homes in South Fayette Township, PA cost?
Median Sold Price
$340,000
$181/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in South Fayette Township was $340,000 in May 2024, down 1% from last year, and the median price per square foot was $181.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $80K | $82K | +2.5% |
2 Bedrooms | $168K | $147.5K | -12.2% |
3 Bedrooms | $300K | $307K | +2.3% |
4 Bedrooms | $485K | $478K | -1.4% |
5+ Bedrooms | $622.4K | $586K | -5.9% |
Summary: South Fayette Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.5%, 2 bedroom homes decreased by 12.2%, 3 bedroom homes increased by 2.3%, 4 bedroom homes decreased by 1.4%, and 5+ bedroom homes decreased by 5.9%.
Median Sold Price Compared To Nearby Cities
Presto | $700K | $700K | 0.0% |
South Fayette Township | $343.5K | $340K | -1.0% |
Oakdale | $276K | $269K | -2.5% |
Housing Supply in South Fayette Township, PA
How many homes are available in South Fayette Township, PA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
102 | 116 | +13.7% |
Summary: The South Fayette Township real estate market had 116 homes for sale in May 2024, a 13.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 13 | 11 | -15.4% |
3 Bedrooms | 41 | 46 | +12.2% |
4 Bedrooms | 45 | 53 | +17.8% |
5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The South Fayette Township 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 decreased by 15.4%, 3 bedroom homes increased by 12.2%, 4 bedroom homes increased by 17.8%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
21 | 28 | +33.3% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 28 homes were sold or pending in South Fayette Township in May 2024, up by 33.3% month-over-month. Of the 28 sold homes, 46% were sold under asking, 14% were sold at asking, and 39% were sold over asking.
Days on Market for South Fayette Township, PA
How long does it take to sell a home in South Fayette Township, PA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
29 Days | 36 Days | +26.3% |
Summary: Homes in South Fayette Township had an average of 36 days on market in May 2024, up by 26.3% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 28 homes were sold in South Fayette Township; 61% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.