Is Allentown, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Allentown has remained a Seller's Market.
Key Takeaway
Allentown is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Allentown, PA
How much do homes in Allentown, PA cost?
Median Sold Price
$270,000
$156/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Allentown have sold for 25.6% more than they did a year ago.
Summary: The median home sold price in Allentown was $270,000 in April 2024, up 25.6% from last year, and the median price per square foot was $156.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $162.7K | $146K | -10.3% |
| 2 Bedrooms | $194.9K | $226.2K | +16.1% |
| 3 Bedrooms | $215K | $270K | +25.6% |
| 4 Bedrooms | $245K | $330K | +34.7% |
| 5+ Bedrooms | $207.5K | $236.6K | +14.0% |
Summary: Allentown housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 10.3%, 2 bedroom homes increased by 16.1%, 3 bedroom homes increased by 25.6%, 4 bedroom homes increased by 34.7%, and 5+ bedroom homes increased by 14%.
Median Sold Price Compared To Nearby Cities
| Allentown | $215K | $270K | +25.6% |
| South Whitehall Township | $358.6K | $390K | +8.7% |
| Salisbury Township | $305K | $330K | +8.2% |
| Whitehall Township | $298K | $310K | +4.0% |
| Whitehall | $299.5K | $310K | +3.5% |
Housing Supply in Allentown, PA
How many homes are available in Allentown, PA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 382 | 396 | +3.7% |
Summary: The Allentown real estate market had 396 homes for sale in April 2024, a 3.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 26 | 26 | 0.0% |
| 3 Bedrooms | 170 | 185 | +8.8% |
| 4 Bedrooms | 112 | 110 | -1.8% |
| 5+ Bedrooms | 71 | 72 | +1.4% |
Summary: The Allentown housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 8.8%, 4 bedroom homes decreased by 1.8%, and 5+ bedroom homes increased by 1.4%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 115 | 112 | -2.6% |
Asking Price vs. Sold Price
31 Homes Were Sold
Under Asking
23 Homes Were Sold
At Asking
58 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Allentown, you could pay more than the asking price. 51.8% of homes here sold above asking price last month.
Summary: A total of 112 homes were sold or pending in Allentown in April 2024, down by 2.6% month-over-month. Of the 112 sold homes, 28% were sold under asking, 21% were sold at asking, and 52% were sold over asking.
Days on Market for Allentown, PA
How long does it take to sell a home in Allentown, PA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 27 Days | 16 Days | -38.7% |
Summary: Homes in Allentown had an average of 16 days on market in Apr 2024, down by 38.7% compared to last year.
Breakdown of Home Sale Times
97 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Allentown are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 112 homes were sold in Allentown; 87% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
