Is Tobyhanna, PA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Tobyhanna is a neutral's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Tobyhanna was a Seller's Market.

Key Takeaway

Tobyhanna 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 Tobyhanna, PA

How much do homes in Tobyhanna, PA cost?

Median Sold Price

$245,000

$170/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$4,000(+1.7%)

Key Takeaway

Homes in Tobyhanna have sold for 1.7% more than they did a year ago.

Summary: The median home sold price in Tobyhanna was $245,000 in February 2024, up 1.7% from last year, and the median price per square foot was $170.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 --
N/A
2 $192.7K$199.9K
+3.8%
3 $222.5K$245K
+10.1%
4 $295K$255K
-13.6%
5+ $250K$325K
+30.0%

Summary: Tobyhanna housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.8%, 3 bedroom homes increased by 10.1%, 4 bedroom homes decreased by 13.6%, and 5+ bedroom homes increased by 30%.

Median Sold Price Compared To Nearby Cities

Tobyhanna
+1.7%
Coolbaugh Township
+1.0%

Housing Supply in Tobyhanna, PA

How many homes are available in Tobyhanna, PA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
8279-3.7%

Summary: The Tobyhanna real estate market had 79 homes for sale in February 2024, a 3.7% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 34
+33.3%
3 5250
-3.8%
4 1715
-11.8%
5+ 1010
0.0%

Summary: The Tobyhanna housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes decreased by 3.8%, 4 bedroom homes decreased by 11.8%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
1412-14.3%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Tobyhanna, you may be able to get a good deal. 58.3% of homes here sold below asking price last month.

Summary: A total of 12 homes were sold or pending in Tobyhanna in February 2024, down by 14.3% month-over-month. Of the 12 sold homes, 58% were sold under asking, 25% were sold at asking, and 17% were sold over asking.

Days on Market for Tobyhanna, PA

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

Average Sale Time

Feb 2023Feb 2024CHANGE
56 Days67 Days+19.6%

Summary: Homes in Tobyhanna had an average of 67 days on market in Feb 2024, up by 19.6% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Tobyhanna has remained consistent over time.

Summary: During February 2024, 12 homes were sold in Tobyhanna; 25% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 33% 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 27 Days Ago

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