Is Olney / Oak Lane, 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 / Oak Lane was a Seller's Market.
Key Takeaway
Olney / Oak Lane 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 / Oak Lane, PA
How much do homes in Olney / Oak Lane, PA cost?
Median Sold Price
$192,920
$143/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Olney / Oak Lane have sold for 1.3% more than they did a year ago.
Summary: The median home sold price in Olney / Oak Lane was $192,920 in April 2024, up 1.3% from last year, and the median price per square foot was $143.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $76.2K | $280K | +267.2% |
| 2 Bedrooms | $139.9K | $139K | -0.6% |
| 3 Bedrooms | $183K | $187.3K | +2.4% |
| 4 Bedrooms | $247.5K | $235K | -5.1% |
| 5+ Bedrooms | $285K | $280K | -1.8% |
Summary: Olney / Oak Lane housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 267.2%, 2 bedroom homes decreased by 0.6%, 3 bedroom homes increased by 2.4%, 4 bedroom homes decreased by 5.1%, and 5+ bedroom homes decreased by 1.8%.
Median Sold Price Compared To Nearby Neighborhoods
| East Oak Lane | $234K | $262K | +12.0% |
| Olney / Oak Lane | $190.5K | $192.9K | +1.3% |
| Ogontz | $180K | $167.5K | -6.9% |
Housing Supply in Olney / Oak Lane, PA
How many homes are available in Olney / Oak Lane, PA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 460 | 466 | +1.3% |
Summary: The Olney / Oak Lane real estate market had 466 homes for sale in April 2024, a 1.3% increase 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 | 25 | 24 | -4.0% |
| 3 Bedrooms | 345 | 342 | -0.9% |
| 4 Bedrooms | 73 | 81 | +11.0% |
| 5+ Bedrooms | 17 | 19 | +11.8% |
Summary: The Olney / Oak Lane 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 decreased by 4%, 3 bedroom homes decreased by 0.9%, 4 bedroom homes increased by 11%, and 5+ bedroom homes increased by 11.8%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 72 | 73 | +1.4% |
Asking Price vs. Sold Price
32 Homes Were Sold
Under Asking
19 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Olney / Oak Lane, you may be able to get a good deal. 43.8% of homes here sold below asking price last month.
Summary: A total of 73 homes were sold or pending in Olney / Oak Lane in April 2024, up by 1.4% month-over-month. Of the 73 sold homes, 44% were sold under asking, 26% were sold at asking, and 30% were sold over asking.
Days on Market for Olney / Oak Lane, PA
How long does it take to sell a home in Olney / Oak Lane, PA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 56 Days | 39 Days | -29.7% |
Summary: Homes in Olney / Oak Lane had an average of 39 days on market in Apr 2024, down by 29.7% compared to last year.
Breakdown of Home Sale Times
47 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Olney / Oak Lane are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 73 homes were sold in Olney / Oak Lane; 64% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
