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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Penn Township is a seller's market

Buyer's
Market

Difference Since September 2023

Since last year, Penn Township has remained a Seller's Market.

Key Takeaway

Penn Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Penn Township, PA

How much do homes in Penn Township, PA cost?

Median Sold Price

$365,000

$182/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$67,000(+22.5%)

Key Takeaway

Homes in Penn Township have sold for 22.5% more than they did a year ago.

Summary: The median home sold price in Penn Township was $365,000 in September 2024, up 22.5% from last year, and the median price per square foot was $182.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $200K$36K
-82.0%
2 $187.7K$318.2K
+69.5%
3 $280K$285K
+1.8%
4 $470K$400K
-14.9%
5+ $675K$395.5K
-41.4%

Summary: Penn Township housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 82%, 2 bedroom homes increased by 69.5%, 3 bedroom homes increased by 1.8%, 4 bedroom homes decreased by 14.9%, and 5+ bedroom homes decreased by 41.4%.

Median Sold Price Compared To Nearby Cities

Penn Township
+22.5%
Renfrew
+18.9%
Butler Township
-1.1%

Housing Supply in Penn Township, PA

How many homes are available in Penn Township, PA?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
2019-5.0%

Summary: The Penn Township real estate market had 19 homes for sale in September 2024, a 5.0% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 12
+100.0%
3 86
-25.0%
4 1010
0.0%
5+ 11
0.0%

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

Number of Homes Sold

Aug 2024Sep 2024CHANGE
440.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Penn Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in Penn Township in September 2024, the same as the previous month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.

Days on Market for Penn Township, PA

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

Average Sale Time

Sep 2023Sep 2024CHANGE
36 Days43 Days+16.8%

Summary: Homes in Penn Township had an average of 43 days on market in Sep 2024, up by 16.8% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Penn Township are selling fast, if you're buying plan to act quickly.

Summary: During September 2024, 4 homes were sold in Penn Township; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% 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 Township, PA

Nearby Markets to Penn Township, PA

What housing markets are near Penn Township, PA?