Is Pennellville, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Pennellville was a Neutral Market.
Key Takeaway
Pennellville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Pennellville, NY
How much do homes in Pennellville, NY cost?
Median Sold Price
$204,747
$129/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Key Takeaway
Homes in Pennellville have sold for 76.7% less than they did a month ago.
Summary: The median home sold price in Pennellville was $204,747 in May 2024, down 76.7% from last month, and the median price per square foot was $129.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | - | $204.7K | N/A |
| 4 Bedrooms | $880K | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Pennellville housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Pennellville, NY
How many homes are available in Pennellville, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 6 | 5 | -16.7% |
Summary: The Pennellville real estate market had 5 homes for sale in May 2024, a 16.7% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 3 | 3 | 0.0% |
| 4 Bedrooms | 3 | 2 | -33.3% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Pennellville housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1 | 2 | +100.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Pennellville, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 2 homes were sold or pending in Pennellville in May 2024, up by 100.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Pennellville, NY
How long does it take to sell a home in Pennellville, NY?
Average Sale Time
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 10 Days | 35 Days | +255.0% |
Summary: Homes in Pennellville had an average of 35 days on market in May 2024, up by 255% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Pennellville are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 2 homes were sold in Pennellville; 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.
