Is New Kensington, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, New Kensington has remained a Seller's Market.
Key Takeaway
New Kensington is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in New Kensington, PA
How much do homes in New Kensington, PA cost?
Median Sold Price
$165,000
$146/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in New Kensington have sold for 15.8% more than they did a year ago.
Summary: The median home sold price in New Kensington was $165,000 in March 2024, up 15.8% from last year, and the median price per square foot was $146.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $14.5K | $109.9K | +658.3% |
| 2 Bedrooms | $116K | $131K | +12.9% |
| 3 Bedrooms | $150K | $181.1K | +20.8% |
| 4 Bedrooms | $145.9K | $212.5K | +45.6% |
| 5+ Bedrooms | $315K | $191K | -39.4% |
Summary: New Kensington housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 658.3%, 2 bedroom homes increased by 12.9%, 3 bedroom homes increased by 20.8%, 4 bedroom homes increased by 45.6%, and 5+ bedroom homes decreased by 39.4%.
Median Sold Price Compared To Nearby Cities
| New Kensington | $142.5K | $165K | +15.8% |
| Lower Burrell | $186.2K | $197.5K | +6.0% |
| Arnold | $88K | $88K | 0.0% |
Housing Supply in New Kensington, PA
How many homes are available in New Kensington, PA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 112 | 127 | +13.4% |
Summary: The New Kensington real estate market had 127 homes for sale in March 2024, a 13.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 3 | +200.0% |
| 2 Bedrooms | 25 | 25 | 0.0% |
| 3 Bedrooms | 62 | 73 | +17.7% |
| 4 Bedrooms | 17 | 20 | +17.6% |
| 5+ Bedrooms | 7 | 6 | -14.3% |
Summary: The New Kensington housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes remained the same, 3 bedroom homes increased by 17.7%, 4 bedroom homes increased by 17.6%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 14 | 27 | +92.9% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in New Kensington, you may be able to get a good deal. 70.4% of homes here sold below asking price last month.
Summary: A total of 27 homes were sold or pending in New Kensington in March 2024, up by 92.9% month-over-month. Of the 27 sold homes, 70% were sold under asking, 15% were sold at asking, and 15% were sold over asking.
Days on Market for New Kensington, PA
How long does it take to sell a home in New Kensington, PA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 70 Days | 75 Days | +7.5% |
Summary: Homes in New Kensington had an average of 75 days on market in Mar 2024, up by 7.5% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in New Kensington has remained consistent over time.
Summary: During March 2024, 27 homes were sold in New Kensington; 26% of homes were sold within 30 days, 48% of homes were sold within 30 to 90 days, and 26% 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.