Is State College, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
At the same time last year, State College was a Seller's Market.
Housing Prices in State College, PA
How much do homes in State College, PA cost?
Median Sold Price
$398,850
$191/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in State College was $398,850 in February 2024, up 3.6% from last year, and the median price per square foot was $191.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $200K | $215K | +7.5% |
2 Bedrooms | $256K | $255K | -0.4% |
3 Bedrooms | $354.5K | $365K | +3.0% |
4 Bedrooms | $483.5K | $510K | +5.5% |
5+ Bedrooms | $650K | $612.5K | -5.8% |
Summary: State College housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.5%, 2 bedroom homes decreased by 0.4%, 3 bedroom homes increased by 3%, 4 bedroom homes increased by 5.5%, and 5+ bedroom homes decreased by 5.8%.
Median Sold Price Compared To Nearby Cities
State College | $385.1K | $398.8K | +3.6% |
Ferguson Township | $419.4K | $430K | +2.5% |
College Township | $405.9K | $375.7K | -7.4% |
Housing Supply in State College, PA
How many homes are available in State College, PA?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
131 | 144 | +9.9% |
Summary: The State College real estate market had 144 homes for sale in February 2024, a 9.9% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 2 | -50.0% |
2 Bedrooms | 8 | 10 | +25.0% |
3 Bedrooms | 51 | 57 | +11.8% |
4 Bedrooms | 47 | 51 | +8.5% |
5+ Bedrooms | 21 | 24 | +14.3% |
Summary: The State College housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 11.8%, 4 bedroom homes increased by 8.5%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
29 | 19 | -34.5% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 19 homes were sold or pending in State College in February 2024, down by 34.5% month-over-month. Of the 19 sold homes, 42% were sold under asking, 32% were sold at asking, and 26% 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
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
20 Days | 38 Days | +93.6% |
Summary: Homes in State College had an average of 38 days on market in Feb 2024, up by 93.6% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During February 2024, 19 homes were sold in State College; 68% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.