Is Lower Burrell, 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, Lower Burrell has remained a Seller's Market.
Key Takeaway
Lower Burrell is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lower Burrell, PA
How much do homes in Lower Burrell, PA cost?
Median Sold Price
$197,500
$156/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Lower Burrell have sold for 6% more than they did a year ago.
Summary: The median home sold price in Lower Burrell was $197,500 in March 2024, up 6% from last year, and the median price per square foot was $156.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $39.7K | $109.9K | +176.6% |
| 2 Bedrooms | $154.2K | $154K | -0.1% |
| 3 Bedrooms | $185K | $202K | +9.2% |
| 4 Bedrooms | $255K | $254.9K | 0% |
| 5+ Bedrooms | $262.5K | $240K | -8.6% |
Summary: Lower Burrell housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 176.6%, 2 bedroom homes decreased by 0.1%, 3 bedroom homes increased by 9.2%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 8.6%.
Median Sold Price Compared To Nearby Cities
| Tarentum | $110K | $132K | +20.0% |
| Upper Burrell Township | $205K | $239.8K | +17.0% |
| New Kensington | $142.5K | $165K | +15.8% |
| Brackenridge | $120K | $134K | +11.7% |
| Lower Burrell | $186.2K | $197.5K | +6.0% |
Housing Supply in Lower Burrell, PA
How many homes are available in Lower Burrell, PA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 24 | 32 | +33.3% |
Summary: The Lower Burrell real estate market had 32 homes for sale in March 2024, a 33.3% increase 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 | 6 | 6 | 0.0% |
| 3 Bedrooms | 15 | 21 | +40.0% |
| 4 Bedrooms | 2 | 4 | +100.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Lower Burrell 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 increased by 40%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 7 | +75.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Lower Burrell, you may be able to get a good deal. 71.4% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Lower Burrell in March 2024, up by 75.0% month-over-month. Of the 7 sold homes, 71% were sold under asking, 14% were sold at asking, and 14% were sold over asking.
Days on Market for Lower Burrell, PA
How long does it take to sell a home in Lower Burrell, PA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 80 Days | 72 Days | -10.0% |
Summary: Homes in Lower Burrell had an average of 72 days on market in Mar 2024, down by 10% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Lower Burrell has remained consistent over time.
Summary: During March 2024, 7 homes were sold in Lower Burrell; 14% of homes were sold within 30 days, 57% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.
