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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Ephrata is a buyer's market

Buyer's
Market

Difference Since February 2023

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

Key Takeaway

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

Housing Prices in Ephrata, PA

How much do homes in Ephrata, PA cost?

Median Sold Price

$315,793

$177/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$71,468(+29.3%)

Key Takeaway

Homes in Ephrata have sold for 29.3% more than they did a year ago.

Summary: The median home sold price in Ephrata was $315,793 in February 2024, up 29.3% from last year, and the median price per square foot was $177.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 --
N/A
2 $225K$275K
+22.2%
3 $235.5K$299.9K
+27.3%
4 $299.9K$400K
+33.4%
5+ $212K$461K
+117.5%

Summary: Ephrata housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 22.2%, 3 bedroom homes increased by 27.3%, 4 bedroom homes increased by 33.4%, and 5+ bedroom homes increased by 117.5%.

Median Sold Price Compared To Nearby Cities

Ephrata
+29.3%
Akron
+12.5%
Ephrata Township
-1.6%

Housing Supply in Ephrata, PA

How many homes are available in Ephrata, PA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
9682-14.6%

Summary: The Ephrata real estate market had 82 homes for sale in February 2024, a 14.6% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 1512
-20.0%
3 3826
-31.6%
4 3537
+5.7%
5+ 87
-12.5%

Summary: The Ephrata housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes decreased by 31.6%, 4 bedroom homes increased by 5.7%, and 5+ bedroom homes decreased by 12.5%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
248-66.7%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Ephrata, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

Summary: A total of 8 homes were sold or pending in Ephrata in February 2024, down by 66.7% month-over-month. Of the 8 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% were sold over asking.

Days on Market for Ephrata, PA

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

Average Sale Time

Feb 2023Feb 2024CHANGE
78 Days12 Days-84.2%

Summary: Homes in Ephrata had an average of 12 days on market in Feb 2024, down by 84.2% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 8 homes were sold in Ephrata; 88% of homes were sold within 30 days, 13% 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 Ephrata, PA

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