Is Centre County, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
At the same time last year, Centre County was a Neutral Market.
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
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
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $185K | $200K | +8.1% |
2 Bedrooms | $197.5K | $239K | +21.0% |
3 Bedrooms | $303.3K | $325.5K | +7.3% |
4 Bedrooms | $449.9K | $441.5K | -1.8% |
5+ Bedrooms | $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 | $335K | $349.7K | +4.4% |
Mifflin County | $165K | $157.7K | -4.4% |
Housing Supply in Centre County, PA
How many homes are available in Centre County, PA?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
356 | 349 | -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
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 9 | 6 | -33.3% |
2 Bedrooms | 38 | 30 | -21.1% |
3 Bedrooms | 154 | 152 | -1.3% |
4 Bedrooms | 112 | 110 | -1.8% |
5+ Bedrooms | 43 | 51 | +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 2024 | Feb 2024 | CHANGE |
---|---|---|
74 | 39 | -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
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 2023 | Feb 2024 | CHANGE |
---|---|---|
24 Days | 44 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
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.