Is McKean County, 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, McKean County has remained a Seller's Market.
Housing Prices in McKean County, PA
How much do homes in McKean County, PA cost?
Median Sold Price
$99,833
$75/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in McKean County was $99,833 in March 2024, down 9.2% from last year, and the median price per square foot was $75.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $50K | $47.4K | -5.1% |
2 Bedrooms | $75.7K | $78.5K | +3.7% |
3 Bedrooms | $110K | $121K | +10.0% |
4 Bedrooms | $135K | $125.7K | -6.9% |
5+ Bedrooms | $149K | $80.3K | -46.1% |
Summary: McKean County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.1%, 2 bedroom homes increased by 3.7%, 3 bedroom homes increased by 10%, 4 bedroom homes decreased by 6.9%, and 5+ bedroom homes decreased by 46.1%.
Housing Supply in McKean County, PA
How many homes are available in McKean County, PA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
84 | 73 | -13.1% |
Summary: The McKean County real estate market had 73 homes for sale in March 2024, a 13.1% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 13 | 16 | +23.1% |
3 Bedrooms | 31 | 23 | -25.8% |
4 Bedrooms | 25 | 22 | -12.0% |
5+ Bedrooms | 12 | 9 | -25.0% |
Summary: The McKean County 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 increased by 23.1%, 3 bedroom homes decreased by 25.8%, 4 bedroom homes decreased by 12%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
19 | 14 | -26.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 14 homes were sold or pending in McKean County in March 2024, down by 26.3% month-over-month. Of the 14 sold homes, 50% were sold under asking, 21% were sold at asking, and 29% were sold over asking.
Days on Market for McKean County, PA
How long does it take to sell a home in McKean County, PA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
73 Days | 80 Days | +10.7% |
Summary: Homes in McKean County had an average of 80 days on market in Mar 2024, up by 10.7% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During March 2024, 14 homes were sold in McKean 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.