Is 16002, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 16002 has remained a Seller's Market.
Key Takeaway
16002 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 16002, PA
How much do homes in 16002, PA cost?
Median Sold Price
$271,750
$172/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 16002 have sold for 0.6% more than they did a year ago.
Summary: The median home sold price in 16002 was $271,750 in March 2024, up 0.6% from last year, and the median price per square foot was $172.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $168.9K | - | N/A |
| 2 Bedrooms | $195K | $180K | -7.7% |
| 3 Bedrooms | $256K | $252.5K | -1.4% |
| 4 Bedrooms | $376K | $379K | +0.8% |
| 5+ Bedrooms | $602.5K | $395K | -34.4% |
Summary: 16002 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 7.7%, 3 bedroom homes decreased by 1.4%, 4 bedroom homes increased by 0.8%, and 5+ bedroom homes decreased by 34.4%.
Median Sold Price Compared To Nearby Zip Codes
| 16002 | $270K | $271.7K | +0.6% |
| 16001 | $199.9K | $200K | 0.1% |
Housing Supply in 16002, PA
How many homes are available in 16002, PA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 21 | 23 | +9.5% |
Summary: The 16002 real estate market had 23 homes for sale in March 2024, a 9.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 9 | 10 | +11.1% |
| 4 Bedrooms | 8 | 10 | +25.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 16002 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Asking Price vs. Sold Price
2 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 16002, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in 16002 in March 2024, down by 20.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for 16002, PA
How long does it take to sell a home in 16002, PA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 65 Days | 67 Days | +2.9% |
Summary: Homes in 16002 had an average of 67 days on market in Mar 2024, up by 2.9% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 16002 has remained consistent over time.
Summary: During March 2024, 4 homes were sold in 16002; 25% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
