Is 16056, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, 16056 was a Buyer's Market.
Key Takeaway
16056 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 16056, PA
How much do homes in 16056, PA cost?
Median Sold Price
$336,000
$229/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in 16056 have sold for 49.3% more than they did a month ago.
Summary: The median home sold price in 16056 was $336,000 in March 2024, up 49.3% from last month, and the median price per square foot was $229.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | - | $366K | N/A |
| 4 Bedrooms | $225K | $315.5K | +40.2% |
| 5+ Bedrooms | - | - | N/A |
Summary: 16056 housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes increased by 40.2%, and 5+ bedroom homes did not change.
Housing Supply in 16056, PA
How many homes are available in 16056, PA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 11 | 12 | +9.1% |
Summary: The 16056 real estate market had 12 homes for sale in March 2024, a 9.1% 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 5 | 7 | +40.0% |
| 4 Bedrooms | 5 | 4 | -20.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 16056 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 remained the same, 3 bedroom homes increased by 40%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 4 | +300.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 16056, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in 16056 in March 2024, up by 300.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for 16056, PA
How long does it take to sell a home in 16056, PA?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 152 Days | 70 Days | -53.6% |
Summary: Homes in 16056 had an average of 70 days on market in Mar 2024, down by 53.6% compared to last month.
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 16056 has remained consistent over time.
Summary: During March 2024, 4 homes were sold in 16056; 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.
