Is Allentown, 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, Allentown has remained a Seller's Market.
Key Takeaway
Allentown is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Allentown, PA
How much do homes in Allentown, PA cost?
Median Sold Price
$270,000
$156/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Allentown have sold for 26.1% more than they did a year ago.
Summary: The median home sold price in Allentown was $270,000 in March 2024, up 26.1% from last year, and the median price per square foot was $156.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $175K | $146K | -16.6% |
| 2 Bedrooms | $191K | $228.7K | +19.8% |
| 3 Bedrooms | $215K | $270K | +25.6% |
| 4 Bedrooms | $235K | $324K | +37.9% |
| 5+ Bedrooms | $201.2K | $245K | +21.7% |
Summary: Allentown housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 16.6%, 2 bedroom homes increased by 19.8%, 3 bedroom homes increased by 25.6%, 4 bedroom homes increased by 37.9%, and 5+ bedroom homes increased by 21.7%.
Median Sold Price Compared To Nearby Cities
| Allentown | $214K | $270K | +26.1% |
| Salisbury Township | $299.5K | $334K | +11.5% |
| South Whitehall Township | $355.6K | $385K | +8.2% |
| Whitehall Township | $293.3K | $309.5K | +5.5% |
| Whitehall | $295K | $309.5K | +4.9% |
Housing Supply in Allentown, PA
How many homes are available in Allentown, PA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 404 | 381 | -5.7% |
Summary: The Allentown real estate market had 381 homes for sale in March 2024, a 5.7% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 31 | 24 | -22.6% |
| 3 Bedrooms | 169 | 170 | +0.6% |
| 4 Bedrooms | 119 | 108 | -9.2% |
| 5+ Bedrooms | 83 | 76 | -8.4% |
Summary: The Allentown housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 22.6%, 3 bedroom homes increased by 0.6%, 4 bedroom homes decreased by 9.2%, and 5+ bedroom homes decreased by 8.4%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 100 | 109 | +9.0% |
Asking Price vs. Sold Price
37 Homes Were Sold
Under Asking
18 Homes Were Sold
At Asking
54 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Allentown, you could pay more than the asking price. 49.5% of homes here sold above asking price last month.
Summary: A total of 109 homes were sold or pending in Allentown in March 2024, up by 9.0% month-over-month. Of the 109 sold homes, 34% were sold under asking, 17% were sold at asking, and 50% were sold over asking.
Days on Market for Allentown, PA
How long does it take to sell a home in Allentown, PA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 22 Days | 24 Days | +7.6% |
Summary: Homes in Allentown had an average of 24 days on market in Mar 2024, up by 7.6% compared to last year.
Breakdown of Home Sale Times
89 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Allentown are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 109 homes were sold in Allentown; 82% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
