Is Mercer Township, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Mercer Township was a Seller's Market.
Key Takeaway
Mercer Township 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 Township, PA
How much do homes in Mercer Township, PA cost?
Median Sold Price
$275,000
-
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Mercer Township have sold for 93.7% more than they did a month ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $142K | - | N/A |
| 3 Bedrooms | $165K | $250K | +51.5% |
| 4 Bedrooms | $49.5K | - | N/A |
| 5+ Bedrooms | $183.5K | $545K | +197.0% |
Summary: Mercer Township housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 51.5%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 197%.
Median Sold Price Compared To Nearby Cities
| Mercer Township | $142K | $275K | +93.7% |
| Harrisville | $375K | $562.3K | +50.0% |
Housing Supply in Mercer Township, PA
How many homes are available in Mercer Township, PA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 39 | 38 | -2.6% |
Summary: The Mercer Township real estate market had 38 homes for sale in March 2024, a 2.6% decrease 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 | 7 | 5 | -28.6% |
| 3 Bedrooms | 23 | 26 | +13.0% |
| 4 Bedrooms | 3 | 2 | -33.3% |
| 5+ Bedrooms | 6 | 5 | -16.7% |
Summary: The Mercer Township 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 decreased by 28.6%, 3 bedroom homes increased by 13%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 9 | 6 | -33.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Mercer Township, you may be able to get a good deal. 83.3% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Mercer Township in March 2024, down by 33.3% month-over-month. Of the 6 sold homes, 83% were sold under asking, 0% were sold at asking, and 17% were sold over asking.
Days on Market for Mercer Township, PA
How long does it take to sell a home in Mercer Township, PA?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 60 Days | 87 Days | +45.3% |
Summary: Homes in Mercer Township had an average of 87 days on market in Mar 2024, up by 45.3% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Mercer Township are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 6 homes were sold in Mercer Township; 33% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
