Is 16046, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 16046 has remained a Seller's Market.
Key Takeaway
16046 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 16046, PA
How much do homes in 16046, PA cost?
Median Sold Price
$475,500
$205/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 16046 have sold for 0.9% less than they did a year ago.
Summary: The median home sold price in 16046 was $475,500 in April 2024, down 0.9% from last year, and the median price per square foot was $205.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $196K | $202.5K | +3.3% |
| 2 Bedrooms | $215K | $263K | +22.3% |
| 3 Bedrooms | $329.7K | $375K | +13.7% |
| 4 Bedrooms | $620K | $581.5K | -6.2% |
| 5+ Bedrooms | $810K | $991K | +22.3% |
Summary: 16046 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.3%, 2 bedroom homes increased by 22.3%, 3 bedroom homes increased by 13.7%, 4 bedroom homes decreased by 6.2%, and 5+ bedroom homes increased by 22.3%.
Housing Supply in 16046, PA
How many homes are available in 16046, PA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 91 | 94 | +3.3% |
Summary: The 16046 real estate market had 94 homes for sale in April 2024, a 3.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 0 | -100.0% |
| 2 Bedrooms | 17 | 17 | 0.0% |
| 3 Bedrooms | 28 | 26 | -7.1% |
| 4 Bedrooms | 29 | 33 | +13.8% |
| 5+ Bedrooms | 15 | 18 | +20.0% |
Summary: The 16046 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 7.1%, 4 bedroom homes increased by 13.8%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 27 | 22 | -18.5% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 16046, you could pay more than the asking price. 40.9% of homes here sold above asking price last month.
Summary: A total of 22 homes were sold or pending in 16046 in April 2024, down by 18.5% month-over-month. Of the 22 sold homes, 36% were sold under asking, 23% were sold at asking, and 41% were sold over asking.
Days on Market for 16046, PA
How long does it take to sell a home in 16046, PA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 25 Days | 52 Days | +104.7% |
Summary: Homes in 16046 had an average of 52 days on market in Apr 2024, up by 104.7% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 16046 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 22 homes were sold in 16046; 59% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.
