Is Mercersburg, PA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Mercersburg is a seller's market

Buyer's
Market

Difference Since Last Month

Last month, Mercersburg was a Buyer's Market.

Key Takeaway

Mercersburg is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Mercersburg, PA

How much do homes in Mercersburg, PA cost?

Median Sold Price

$245,000

$158/sqft

Based on all homes sold in February 2024.

Difference Since Last Month

+$9,000(+3.8%)

Key Takeaway

Homes in Mercersburg have sold for 3.8% more than they did a month ago.

Summary: The median home sold price in Mercersburg was $245,000 in February 2024, up 3.8% from last month, and the median price per square foot was $158.

Median Sold Price By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 --
N/A
2 --
N/A
3 $207.2K$289.5K
+39.7%
4 $410K$245K
-40.2%
5+ --
N/A

Summary: Mercersburg housing prices by bedroom type for February 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 39.7%, 4 bedroom homes decreased by 40.2%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Peters Township
+18.2%
Mercersburg
+3.8%

Housing Supply in Mercersburg, PA

How many homes are available in Mercersburg, PA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
29290.0%

Summary: The Mercersburg real estate market had 29 homes for sale in February 2024, the same as January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 01
+100.0%
2 33
0.0%
3 1413
-7.1%
4 99
0.0%
5+ 33
0.0%

Summary: The Mercersburg housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 7.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
35+66.7%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Mercersburg, you may be able to get a good deal. 40% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in Mercersburg in February 2024, up by 66.7% month-over-month. Of the 5 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.

Days on Market for Mercersburg, PA

How long does it take to sell a home in Mercersburg, PA?

Average Sale Time

Jan 2024Feb 2024CHANGE
22 Days31 Days+37.6%

Summary: Homes in Mercersburg had an average of 31 days on market in Feb 2024, up by 37.6% compared to last month.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Mercersburg are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 5 homes were sold in Mercersburg; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

Newest Listings in Mercersburg, PA

Nearby Markets to Mercersburg, PA

What housing markets are near Mercersburg, PA?