Is Oakland, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Oakland has remained a Seller's Market.
Key Takeaway
Oakland is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Oakland, PA
How much do homes in Oakland, PA cost?
Median Sold Price
$285,000
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Oakland have sold for 5.6% more than they did a year ago.
Summary: The median home sold price in Oakland was $285,000 in April 2024, up 5.6% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $162K | $175K | +8.0% |
| 2 Bedrooms | $272.5K | $263.7K | -3.2% |
| 3 Bedrooms | $299K | $305K | +2.0% |
| 4 Bedrooms | $317.5K | $300K | -5.5% |
| 5+ Bedrooms | $365K | $447.5K | +22.6% |
Summary: Oakland housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8%, 2 bedroom homes decreased by 3.2%, 3 bedroom homes increased by 2%, 4 bedroom homes decreased by 5.5%, and 5+ bedroom homes increased by 22.6%.
Median Sold Price Compared To Nearby Neighborhoods
| Oakland | $270K | $285K | +5.6% |
| South Oakland | $255K | $245K | -3.9% |
Housing Supply in Oakland, PA
How many homes are available in Oakland, PA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 48 | 49 | +2.1% |
Summary: The Oakland real estate market had 49 homes for sale in April 2024, a 2.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 13 | 15 | +15.4% |
| 2 Bedrooms | 21 | 19 | -9.5% |
| 3 Bedrooms | 11 | 10 | -9.1% |
| 4 Bedrooms | 3 | 5 | +66.7% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Oakland housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 15.4%, 2 bedroom homes decreased by 9.5%, 3 bedroom homes decreased by 9.1%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 7 | 10 | +42.9% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Oakland, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 10 homes were sold or pending in Oakland in April 2024, up by 42.9% month-over-month. Of the 10 sold homes, 40% were sold under asking, 50% were sold at asking, and 10% were sold over asking.
Days on Market for Oakland, PA
How long does it take to sell a home in Oakland, PA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 3 Days | 78 Days | +2243.0% |
Summary: Homes in Oakland had an average of 78 days on market in Apr 2024, up by 2243% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Oakland are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 10 homes were sold in Oakland; 50% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.
