Is Farmington, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Farmington has remained a Seller's Market.
Key Takeaway
Farmington is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Farmington, PA
How much do homes in Farmington, PA cost?
Median Sold Price
$230,000
$150/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Farmington have sold for 36.8% less than they did a month ago.
Summary: The median home sold price in Farmington was $230,000 in March 2024, down 36.8% from last month, and the median price per square foot was $150.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | - | $80K | N/A |
| 4 Bedrooms | $300K | $380K | +26.7% |
| 5+ Bedrooms | $428.4K | - | N/A |
Summary: Farmington housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes increased by 26.7%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Farmington | $364.2K | $230K | -36.8% |
| Wharton Township | $364.2K | $168K | -53.9% |
Housing Supply in Farmington, PA
How many homes are available in Farmington, PA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 10 | 9 | -10.0% |
Summary: The Farmington real estate market had 9 homes for sale in March 2024, a 10.0% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 5 | 5 | 0.0% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Farmington housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Farmington, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Farmington in March 2024, the same as the previous month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Farmington, PA
How long does it take to sell a home in Farmington, PA?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 172 Days | 105 Days | -38.7% |
Summary: Homes in Farmington had an average of 105 days on market in Mar 2024, down by 38.7% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Farmington are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 2 homes were sold in Farmington; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
