Is Mayfair, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Mayfair has remained a Seller's Market.
Key Takeaway
Mayfair is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mayfair, PA
How much do homes in Mayfair, PA cost?
Median Sold Price
$245,000
$191/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Mayfair have sold for 0.8% more than they did a year ago.
Summary: The median home sold price in Mayfair was $245,000 in April 2024, up 0.8% from last year, and the median price per square foot was $191.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $180K | $169.9K | -5.6% |
| 3 Bedrooms | $248.5K | $248K | -0.2% |
| 4 Bedrooms | $242.5K | $262K | +8.0% |
| 5+ Bedrooms | $255K | $320K | +25.5% |
Summary: Mayfair housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 5.6%, 3 bedroom homes decreased by 0.2%, 4 bedroom homes increased by 8%, and 5+ bedroom homes increased by 25.5%.
Median Sold Price Compared To Nearby Neighborhoods
| Wissinoming | $184.9K | $190K | +2.7% |
| Mayfair | $243K | $245K | +0.8% |
| Near Northeast Philadelphia | $220K | $219.9K | 0% |
| Oxford Circle | $227.6K | $226K | -0.7% |
Housing Supply in Mayfair, PA
How many homes are available in Mayfair, PA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 76 | 87 | +14.5% |
Summary: The Mayfair real estate market had 87 homes for sale in April 2024, a 14.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 6 | +50.0% |
| 3 Bedrooms | 70 | 80 | +14.3% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Mayfair housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 14.3%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 19 | 16 | -15.8% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mayfair, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in Mayfair in April 2024, down by 15.8% month-over-month. Of the 16 sold homes, 50% were sold under asking, 19% were sold at asking, and 31% were sold over asking.
Days on Market for Mayfair, PA
How long does it take to sell a home in Mayfair, PA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 42 Days | 45 Days | +5.7% |
Summary: Homes in Mayfair had an average of 45 days on market in Apr 2024, up by 5.7% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mayfair are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 16 homes were sold in Mayfair; 69% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.
