Is Mercer 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, Mercer County was a Seller's Market.
Housing Prices in Mercer County, PA
How much do homes in Mercer County, PA cost?
Median Sold Price
$153,992
$115/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Mercer County was $153,992 in March 2024, up 9.9% from last year, and the median price per square foot was $115.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $95K | $51.5K | -45.8% |
2 Bedrooms | $85.5K | $119.2K | +39.5% |
3 Bedrooms | $141.8K | $155K | +9.3% |
4 Bedrooms | $181.5K | $224.1K | +23.5% |
5+ Bedrooms | $249.5K | $339.5K | +36.1% |
Summary: Mercer County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 45.8%, 2 bedroom homes increased by 39.5%, 3 bedroom homes increased by 9.3%, 4 bedroom homes increased by 23.5%, and 5+ bedroom homes increased by 36.1%.
Median Sold Price Compared To Nearby Counties
Mercer County | $140.1K | $153.9K | +9.9% |
Butler County | $308.8K | $331.3K | +7.3% |
Trumbull County | $139.8K | $145K | +3.7% |
Housing Supply in Mercer County, PA
How many homes are available in Mercer County, PA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
289 | 290 | 0.3% |
Summary: The Mercer County real estate market had 290 homes for sale in March 2024, a 0.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 3 | +50.0% |
2 Bedrooms | 59 | 51 | -13.6% |
3 Bedrooms | 174 | 181 | +4.0% |
4 Bedrooms | 39 | 41 | +5.1% |
5+ Bedrooms | 15 | 14 | -6.7% |
Summary: The Mercer County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 13.6%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 5.1%, and 5+ bedroom homes decreased by 6.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
59 | 46 | -22.0% |
Asking Price vs. Sold Price
32 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 46 homes were sold or pending in Mercer County in March 2024, down by 22.0% month-over-month. Of the 46 sold homes, 70% were sold under asking, 11% were sold at asking, and 20% were sold over asking.
Days on Market for Mercer County, PA
How long does it take to sell a home in Mercer County, PA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
84 Days | 74 Days | -11.7% |
Summary: Homes in Mercer County had an average of 74 days on market in Mar 2024, down by 11.7% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
18 Homes Were Sold
Over 90 Days
Summary: During March 2024, 46 homes were sold in Mercer County; 35% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 39% of homes were sold over 90 days.