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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Penn Forest Township is a buyer's market

Buyer's
Market

Difference Since September 2023

At the same time last year, Penn Forest Township was a Seller's Market.

Key Takeaway

Penn Forest Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Penn Forest Township, PA

How much do homes in Penn Forest Township, PA cost?

Median Sold Price

$308,000

$196/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$8,100(+2.7%)

Key Takeaway

Homes in Penn Forest Township have sold for 2.7% more than they did a year ago.

Summary: The median home sold price in Penn Forest Township was $308,000 in September 2024, up 2.7% from last year, and the median price per square foot was $196.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 --
N/A
2 $198.5K$220K
+10.8%
3 $299.4K$290K
-3.2%
4 $382.5K$374.9K
-2.0%
5+ $525K$399.9K
-23.8%

Summary: Penn Forest Township housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 10.8%, 3 bedroom homes decreased by 3.2%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes decreased by 23.8%.

Median Sold Price Compared To Nearby Cities

Penn Forest Township
+2.7%
Kidder Township
-7.2%
Blakeslee
-7.9%
Albrightsville
-8.0%
Tunkhannock Township
-9.1%

Housing Supply in Penn Forest Township, PA

How many homes are available in Penn Forest Township, PA?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
120124+3.3%

Summary: The Penn Forest Township real estate market had 124 homes for sale in September 2024, a 3.3% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 10
-100.0%
2 1011
+10.0%
3 7678
+2.6%
4 2525
0.0%
5+ 810
+25.0%

Summary: The Penn Forest Township housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 2.6%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 25%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
1811-38.9%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Penn Forest Township, you may be able to get a good deal. 81.8% of homes here sold below asking price last month.

Summary: A total of 11 homes were sold or pending in Penn Forest Township in September 2024, down by 38.9% month-over-month. Of the 11 sold homes, 82% were sold under asking, 0% were sold at asking, and 18% were sold over asking.

Days on Market for Penn Forest Township, PA

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

Average Sale Time

Sep 2023Sep 2024CHANGE
44 Days55 Days+27.1%

Summary: Homes in Penn Forest Township had an average of 55 days on market in Sep 2024, up by 27.1% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Penn Forest Township has remained consistent over time.

Summary: During September 2024, 11 homes were sold in Penn Forest Township; 27% of homes were sold within 30 days, 55% of homes were sold within 30 to 90 days, and 18% 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 30 Days Ago

Newest Listings in Penn Forest Township, PA

Nearby Markets to Penn Forest Township, PA

What housing markets are near Penn Forest Township, PA?