Is Olney, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Olney was a Seller's Market.
Key Takeaway
Olney 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 Olney, PA
How much do homes in Olney, PA cost?
Median Sold Price
$175,000
$141/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Olney have sold for 1.4% more than they did a year ago.
Summary: The median home sold price in Olney was $175,000 in April 2024, up 1.4% from last year, and the median price per square foot was $141.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $139.9K | $174K | +24.4% |
| 3 Bedrooms | $170K | $169.4K | -0.3% |
| 4 Bedrooms | $225K | $215K | -4.4% |
| 5+ Bedrooms | $165K | $257.5K | +56.1% |
Summary: Olney housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 24.4%, 3 bedroom homes decreased by 0.3%, 4 bedroom homes decreased by 4.4%, and 5+ bedroom homes increased by 56.1%.
Median Sold Price Compared To Nearby Neighborhoods
| East Oak Lane | $234K | $262K | +12.0% |
| Logan | $125K | $133.5K | +6.8% |
| Crescentville | $200K | $206K | +3.0% |
| Olney | $172.5K | $175K | +1.4% |
Housing Supply in Olney, PA
How many homes are available in Olney, PA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 65 | 64 | -1.5% |
Summary: The Olney real estate market had 64 homes for sale in April 2024, a 1.5% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 59 | 52 | -11.9% |
| 4 Bedrooms | 5 | 11 | +120.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Olney housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 11.9%, 4 bedroom homes increased by 120%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 10 | 10 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Olney, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in Olney in April 2024, the same as the previous month. Of the 10 sold homes, 30% were sold under asking, 10% were sold at asking, and 60% were sold over asking.
Days on Market for Olney, PA
How long does it take to sell a home in Olney, PA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 48 Days | 34 Days | -29.0% |
Summary: Homes in Olney had an average of 34 days on market in Apr 2024, down by 29% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Olney are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 10 homes were sold in Olney; 50% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
