Is South Park, 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 Park has remained a Seller's Market.
Key Takeaway
South Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in South Park, PA
How much do homes in South Park, PA cost?
Median Sold Price
$255,000
$180/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in South Park have sold for 3.3% less than they did a year ago.
Summary: The median home sold price in South Park was $255,000 in May 2024, down 3.3% from last year, and the median price per square foot was $180.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $80K | - | N/A |
| 2 Bedrooms | $160.5K | $175K | +9.0% |
| 3 Bedrooms | $255.5K | $249.9K | -2.2% |
| 4 Bedrooms | $407.5K | $370.7K | -9.0% |
| 5+ Bedrooms | $455K | $660K | +45.1% |
Summary: South Park 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 9%, 3 bedroom homes decreased by 2.2%, 4 bedroom homes decreased by 9%, and 5+ bedroom homes increased by 45.1%.
Median Sold Price Compared To Nearby Cities
| Jefferson Hills | $306.2K | $325.1K | +6.2% |
| Bethel Park | $264.6K | $279.9K | +5.8% |
| South Park Township | $256K | $259.9K | +1.5% |
| South Park | $263.7K | $255K | -3.3% |
Housing Supply in South Park, PA
How many homes are available in South Park, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 28 | 36 | +28.6% |
Summary: The South Park real estate market had 36 homes for sale in May 2024, a 28.6% 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 | 6 | +50.0% |
| 3 Bedrooms | 13 | 13 | 0.0% |
| 4 Bedrooms | 11 | 17 | +54.5% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The South Park 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 50%, 3 bedroom homes remained the same, 4 bedroom homes increased by 54.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 8 | +14.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Park, you could pay more than the asking price. 62.5% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in South Park in May 2024, up by 14.3% month-over-month. Of the 8 sold homes, 38% were sold under asking, 0% were sold at asking, and 63% were sold over asking.
Days on Market for South Park, PA
How long does it take to sell a home in South Park, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 55 Days | 24 Days | -56.2% |
Summary: Homes in South Park had an average of 24 days on market in May 2024, down by 56.2% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in South Park are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 8 homes were sold in South Park; 88% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
