Is Fayette County, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Fayette County was a Seller's Market.
Key Takeaway
Fayette County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Fayette County, PA
How much do homes in Fayette County, PA cost?
Median Sold Price
$160,521
$112/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Fayette County have sold for 1.2% less than they did a year ago.
Summary: The median home sold price in Fayette County was $160,521 in March 2024, down 1.2% from last year, and the median price per square foot was $112.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $49.9K | $89.2K | +78.9% |
| 2 Bedrooms | $114K | $115K | +0.9% |
| 3 Bedrooms | $171.1K | $175.3K | +2.5% |
| 4 Bedrooms | $210K | $202.5K | -3.6% |
| 5+ Bedrooms | $234.9K | $182.4K | -22.3% |
Summary: Fayette County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 78.9%, 2 bedroom homes increased by 0.9%, 3 bedroom homes increased by 2.5%, 4 bedroom homes decreased by 3.6%, and 5+ bedroom homes decreased by 22.3%.
Median Sold Price Compared To Nearby Counties
| Somerset County | $175K | $195K | +11.4% |
| Westmoreland County | $192.3K | $201.8K | +5.0% |
| Greene County | $160.8K | $166K | +3.2% |
| Washington County | $239.2K | $245.3K | +2.6% |
| Fayette County | $162.4K | $160.5K | -1.2% |
Housing Supply in Fayette County, PA
How many homes are available in Fayette County, PA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 390 | 407 | +4.4% |
Summary: The Fayette County real estate market had 407 homes for sale in March 2024, a 4.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 7 | +16.7% |
| 2 Bedrooms | 88 | 96 | +9.1% |
| 3 Bedrooms | 209 | 215 | +2.9% |
| 4 Bedrooms | 64 | 71 | +10.9% |
| 5+ Bedrooms | 23 | 18 | -21.7% |
Summary: The Fayette County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 2.9%, 4 bedroom homes increased by 10.9%, and 5+ bedroom homes decreased by 21.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 56 | 58 | +3.6% |
Asking Price vs. Sold Price
41 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Fayette County, you may be able to get a good deal. 70.7% of homes here sold below asking price last month.
Summary: A total of 58 homes were sold or pending in Fayette County in March 2024, up by 3.6% month-over-month. Of the 58 sold homes, 71% were sold under asking, 14% were sold at asking, and 16% were sold over asking.
Days on Market for Fayette County, PA
How long does it take to sell a home in Fayette County, PA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 68 Days | 91 Days | +32.2% |
Summary: Homes in Fayette County had an average of 91 days on market in Mar 2024, up by 32.2% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
25 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Fayette County are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 58 homes were sold in Fayette County; 36% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 43% of homes were sold over 90 days.
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.