Is 19116, PA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 19116 is a buyer's market

Buyer's
Market

Difference Since February 2023

At the same time last year, 19116 was a Seller's Market.

Key Takeaway

19116 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 19116, PA

How much do homes in 19116, PA cost?

Median Sold Price

$365,000

$238/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$10,000(-2.7%)

Key Takeaway

Homes in 19116 have sold for 2.7% less than they did a year ago.

Summary: The median home sold price in 19116 was $365,000 in February 2024, down 2.7% from last year, and the median price per square foot was $238.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $155.5K$170K
+9.3%
2 $308.7K$250K
-19.0%
3 $375K$367.5K
-2.0%
4 $432.5K$424K
-2.0%
5+ $432.5K$355K
-17.9%

Summary: 19116 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.3%, 2 bedroom homes decreased by 19%, 3 bedroom homes decreased by 2%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes decreased by 17.9%.

Median Sold Price Compared To Nearby Zip Codes

19154
+5.1%
19053
+3.5%
19115
+1.1%
19116
-2.7%
19006
-6.6%

Housing Supply in 19116, PA

How many homes are available in 19116, PA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
98100+2.0%

Summary: The 19116 real estate market had 100 homes for sale in February 2024, a 2.0% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 24
+100.0%
2 1619
+18.8%
3 4741
-12.8%
4 2831
+10.7%
5+ 55
0.0%

Summary: The 19116 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 18.8%, 3 bedroom homes decreased by 12.8%, 4 bedroom homes increased by 10.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
1210-16.7%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 19116, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 10 homes were sold or pending in 19116 in February 2024, down by 16.7% month-over-month. Of the 10 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.

Days on Market for 19116, PA

How long does it take to sell a home in 19116, PA?

Average Sale Time

Feb 2023Feb 2024CHANGE
28 Days24 Days-12.9%

Summary: Homes in 19116 had an average of 24 days on market in Feb 2024, down by 12.9% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 19116 are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 10 homes were sold in 19116; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

Newest Listings in 19116, PA

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