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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing South Fayette Township is a seller's market

Buyer's
Market

Difference Since September 2023

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

Key Takeaway

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

Housing Prices in South Fayette Township, PA

How much do homes in South Fayette Township, PA cost?

Median Sold Price

$375,190

$189/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$51,490(+15.9%)

Key Takeaway

Homes in South Fayette Township have sold for 15.9% more than they did a year ago.

Summary: The median home sold price in South Fayette Township was $375,190 in September 2024, up 15.9% from last year, and the median price per square foot was $189.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $86.7K$91K
+4.9%
2 $158K$188K
+19.0%
3 $295K$330K
+11.9%
4 $449.9K$527.5K
+17.2%
5+ $625K$712K
+13.9%

Summary: South Fayette Township housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.9%, 2 bedroom homes increased by 19%, 3 bedroom homes increased by 11.9%, 4 bedroom homes increased by 17.2%, and 5+ bedroom homes increased by 13.9%.

Median Sold Price Compared To Nearby Cities

South Fayette Township
+15.9%
Oakdale
-1.6%

Housing Supply in South Fayette Township, PA

How many homes are available in South Fayette Township, PA?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
111103-7.2%

Summary: The South Fayette Township real estate market had 103 homes for sale in September 2024, a 7.2% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 129
-25.0%
3 4749
+4.3%
4 4138
-7.3%
5+ 117
-36.4%

Summary: The South Fayette 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 decreased by 25%, 3 bedroom homes increased by 4.3%, 4 bedroom homes decreased by 7.3%, and 5+ bedroom homes decreased by 36.4%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
3220-37.5%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

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

Summary: A total of 20 homes were sold or pending in South Fayette Township in September 2024, down by 37.5% month-over-month. Of the 20 sold homes, 50% were sold under asking, 30% were sold at asking, and 20% were sold over asking.

Days on Market for South Fayette Township, PA

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

Average Sale Time

Sep 2023Sep 2024CHANGE
31 Days39 Days+27.9%

Summary: Homes in South Fayette Township had an average of 39 days on market in Sep 2024, up by 27.9% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 20 homes were sold in South Fayette Township; 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 6 Days Ago

Newest Listings in South Fayette Township, PA

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