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.
Key Takeaway
Mercer County is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
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
Key Takeaway
Homes in Mercer County have sold for 9.9% more than they did a year ago.
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
Key Takeaway
If you're buying a home in Mercer County, you may be able to get a good deal. 69.6% of homes here sold below asking price last month.
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
Key Takeaway
Most homes in Mercer County are taking a long time to sell, it's a good idea to negotiate on homes here.
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.
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.