Is Economy, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Economy has remained a Seller's Market.
Key Takeaway
Economy is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Economy, PA
How much do homes in Economy, PA cost?
Median Sold Price
$277,500
$179/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Economy have sold for 2.6% less than they did a year ago.
Summary: The median home sold price in Economy was $277,500 in April 2024, down 2.6% from last year, and the median price per square foot was $179.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $69K | $30.5K | -55.8% |
| 2 Bedrooms | $190K | $155K | -18.4% |
| 3 Bedrooms | $277.4K | $270K | -2.7% |
| 4 Bedrooms | $379.9K | $396.2K | +4.3% |
| 5+ Bedrooms | $459.5K | $335K | -27.1% |
Summary: Economy housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 55.8%, 2 bedroom homes decreased by 18.4%, 3 bedroom homes decreased by 2.7%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes decreased by 27.1%.
Median Sold Price Compared To Nearby Cities
| Baden | $157.7K | $245K | +55.3% |
| Bell Acres | $485K | $665K | +37.1% |
| Franklin Park | $450K | $515K | +14.4% |
| Economy | $285K | $277.5K | -2.6% |
Housing Supply in Economy, PA
How many homes are available in Economy, PA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 33 | 38 | +15.2% |
Summary: The Economy real estate market had 38 homes for sale in April 2024, a 15.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 8 | 8 | 0.0% |
| 3 Bedrooms | 15 | 19 | +26.7% |
| 4 Bedrooms | 10 | 11 | +10.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Economy housing inventory by bedroom type for April 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 26.7%, 4 bedroom homes increased by 10%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 7 | 13 | +85.7% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Economy, you may be able to get a good deal. 53.8% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in Economy in April 2024, up by 85.7% month-over-month. Of the 13 sold homes, 54% were sold under asking, 23% were sold at asking, and 23% were sold over asking.
Days on Market for Economy, PA
How long does it take to sell a home in Economy, PA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 65 Days | 54 Days | -17.2% |
Summary: Homes in Economy had an average of 54 days on market in Apr 2024, down by 17.2% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Economy are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 13 homes were sold in Economy; 54% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
