Is State College, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, State College was a Seller's Market.
Key Takeaway
State College 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 State College, PA
How much do homes in State College, PA cost?
Median Sold Price
$398,850
$194/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in State College have sold for 3.4% more than they did a year ago.
Summary: The median home sold price in State College was $398,850 in March 2024, up 3.4% from last year, and the median price per square foot was $194.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $200K | $221.5K | +10.8% |
| 2 Bedrooms | $256K | $255.5K | -0.2% |
| 3 Bedrooms | $355K | $362.5K | +2.1% |
| 4 Bedrooms | $482K | $510K | +5.8% |
| 5+ Bedrooms | $665K | $599.5K | -9.8% |
Summary: State College housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.8%, 2 bedroom homes decreased by 0.2%, 3 bedroom homes increased by 2.1%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes decreased by 9.8%.
Median Sold Price Compared To Nearby Cities
| State College | $385.7K | $398.8K | +3.4% |
| Ferguson Township | $419.4K | $430K | +2.5% |
| College Township | $399.9K | $372.5K | -6.9% |
Housing Supply in State College, PA
How many homes are available in State College, PA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 154 | 185 | +20.1% |
Summary: The State College real estate market had 185 homes for sale in March 2024, a 20.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 5 | +150.0% |
| 2 Bedrooms | 11 | 15 | +36.4% |
| 3 Bedrooms | 65 | 77 | +18.5% |
| 4 Bedrooms | 52 | 60 | +15.4% |
| 5+ Bedrooms | 24 | 28 | +16.7% |
Summary: The State College housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 150%, 2 bedroom homes increased by 36.4%, 3 bedroom homes increased by 18.5%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 21 | 29 | +38.1% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in State College, you could pay more than the asking price. 44.8% of homes here sold above asking price last month.
Summary: A total of 29 homes were sold or pending in State College in March 2024, up by 38.1% month-over-month. Of the 29 sold homes, 21% were sold under asking, 34% were sold at asking, and 45% were sold over asking.
Days on Market for State College, PA
How long does it take to sell a home in State College, PA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 17 Days | 37 Days | +119.7% |
Summary: Homes in State College had an average of 37 days on market in Mar 2024, up by 119.7% compared to last year.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in State College are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 29 homes were sold in State College; 76% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
