Is Centre County, PA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Centre County is a buyer's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Centre County was a Neutral Market.

Key Takeaway

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

Housing Prices in Centre County, PA

How much do homes in Centre County, PA cost?

Median Sold Price

$349,791

$180/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$14,791(+4.4%)

Key Takeaway

Homes in Centre County have sold for 4.4% more than they did a year ago.

Summary: The median home sold price in Centre County was $349,791 in February 2024, up 4.4% from last year, and the median price per square foot was $180.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $185K$200K
+8.1%
2 $197.5K$239K
+21.0%
3 $303.3K$325.5K
+7.3%
4 $449.9K$441.5K
-1.8%
5+ $550K$571K
+3.8%

Summary: Centre County housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.1%, 2 bedroom homes increased by 21%, 3 bedroom homes increased by 7.3%, 4 bedroom homes decreased by 1.8%, and 5+ bedroom homes increased by 3.8%.

Median Sold Price Compared To Nearby Counties

Centre County
+4.4%
Mifflin County
-4.4%

Housing Supply in Centre County, PA

How many homes are available in Centre County, PA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
356349-2.0%

Summary: The Centre County real estate market had 349 homes for sale in February 2024, a 2.0% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 96
-33.3%
2 3830
-21.1%
3 154152
-1.3%
4 112110
-1.8%
5+ 4351
+18.6%

Summary: The Centre County housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 21.1%, 3 bedroom homes decreased by 1.3%, 4 bedroom homes decreased by 1.8%, and 5+ bedroom homes increased by 18.6%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
7439-47.3%

Asking Price vs. Sold Price

17 Homes Were Sold
Under Asking

12 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Centre County, you may be able to get a good deal. 43.6% of homes here sold below asking price last month.

Summary: A total of 39 homes were sold or pending in Centre County in February 2024, down by 47.3% month-over-month. Of the 39 sold homes, 44% were sold under asking, 31% were sold at asking, and 26% were sold over asking.

Days on Market for Centre County, PA

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

Average Sale Time

Feb 2023Feb 2024CHANGE
24 Days44 Days+81.1%

Summary: Homes in Centre County had an average of 44 days on market in Feb 2024, up by 81.1% compared to last year.

Breakdown of Home Sale Times

21 Homes Were Sold
Under 30 Days

10 Homes Were Sold
In 30 - 90 Days

8 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 39 homes were sold in Centre County; 54% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 21% 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 28 Days Ago

Newest Listings in Centre County, PA

Nearby Markets to Centre County, PA

What housing markets are near Centre County, PA?