Is Hermitage, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Hermitage has remained a Seller's Market.
Housing Prices in Hermitage, PA
How much do homes in Hermitage, PA cost?
Median Sold Price
$190,000
$140/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Hermitage was $190,000 in March 2024, up 5.6% from last year, and the median price per square foot was $140.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $95K | - | N/A |
2 Bedrooms | $165K | $180K | +9.1% |
3 Bedrooms | $170K | $172.4K | +1.4% |
4 Bedrooms | $340K | $304K | -10.6% |
5+ Bedrooms | $425K | $475K | +11.8% |
Summary: Hermitage housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 1.4%, 4 bedroom homes decreased by 10.6%, and 5+ bedroom homes increased by 11.8%.
Housing Supply in Hermitage, PA
How many homes are available in Hermitage, PA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
45 | 43 | -4.4% |
Summary: The Hermitage real estate market had 43 homes for sale in March 2024, a 4.4% 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 | 7 | 5 | -28.6% |
3 Bedrooms | 29 | 27 | -6.9% |
4 Bedrooms | 7 | 10 | +42.9% |
5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Hermitage 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 decreased by 28.6%, 3 bedroom homes decreased by 6.9%, 4 bedroom homes increased by 42.9%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
13 | 9 | -30.8% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in Hermitage in March 2024, down by 30.8% month-over-month. Of the 9 sold homes, 89% were sold under asking, 11% were sold at asking, and 0% were sold over asking.
Days on Market for Hermitage, PA
How long does it take to sell a home in Hermitage, PA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
75 Days | 52 Days | -29.6% |
Summary: Homes in Hermitage had an average of 52 days on market in Mar 2024, down by 29.6% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 9 homes were sold in Hermitage; 56% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.