Is Mount Penn, PA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Mount Penn is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Mount Penn has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Mount Penn, PA

How much do homes in Mount Penn, PA cost?

Median Sold Price

$183,000

$138/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$7,050(+4.0%)

Key Takeaway

Homes in Mount Penn have sold for 4% more than they did a year ago.

Summary: The median home sold price in Mount Penn was $183,000 in February 2024, up 4% from last year, and the median price per square foot was $138.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 --
N/A
2 $135K$141.5K
+4.8%
3 $172.4K$180K
+4.4%
4 $242K$226K
-6.6%
5+ $207.5K$184.9K
-10.9%

Summary: Mount Penn housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 4.4%, 4 bedroom homes decreased by 6.6%, and 5+ bedroom homes decreased by 10.9%.

Median Sold Price Compared To Nearby Cities

Reading
+65.6%
Lower Alsace Township
+12.6%
Exeter Township
+11.5%
Mount Penn
+4.0%

Housing Supply in Mount Penn, PA

How many homes are available in Mount Penn, PA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
1715-11.8%

Summary: The Mount Penn real estate market had 15 homes for sale in February 2024, a 11.8% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 12
+100.0%
3 129
-25.0%
4 33
0.0%
5+ 11
0.0%

Summary: The Mount Penn housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
47+75.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Mount Penn, expect to pay close to the asking price. 42.9% of homes here sold near the asking price last month.

Summary: A total of 7 homes were sold or pending in Mount Penn in February 2024, up by 75.0% month-over-month. Of the 7 sold homes, 29% were sold under asking, 43% were sold at asking, and 29% were sold over asking.

Days on Market for Mount Penn, PA

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

Average Sale Time

Feb 2023Feb 2024CHANGE
5 Days21 Days+289.6%

Summary: Homes in Mount Penn had an average of 21 days on market in Feb 2024, up by 289.6% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 7 homes were sold in Mount Penn; 71% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 0% 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 Mount Penn, PA

Nearby Markets to Mount Penn, PA

What housing markets are near Mount Penn, PA?