Is Centre County, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Centre County has remained a Seller's Market.
Key Takeaway
Centre County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Centre County, PA
How much do homes in Centre County, PA cost?
Median Sold Price
$352,800
$182/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Centre County have sold for 6.9% more than they did a year ago.
Summary: The median home sold price in Centre County was $352,800 in May 2024, up 6.9% from last year, and the median price per square foot was $182.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $198K | $194.9K | -1.5% |
| 2 Bedrooms | $219.5K | $239.4K | +9.1% |
| 3 Bedrooms | $310K | $330K | +6.5% |
| 4 Bedrooms | $430K | $449K | +4.4% |
| 5+ Bedrooms | $615K | $578K | -6.0% |
Summary: Centre County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.5%, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 4.4%, and 5+ bedroom homes decreased by 6%.
Median Sold Price Compared To Nearby Counties
| Centre County | $330K | $352.8K | +6.9% |
| Mifflin County | $170K | $150K | -11.8% |
Housing Supply in Centre County, PA
How many homes are available in Centre County, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 373 | 367 | -1.6% |
Summary: The Centre County real estate market had 367 homes for sale in May 2024, a 1.6% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 3 | -50.0% |
| 2 Bedrooms | 30 | 36 | +20.0% |
| 3 Bedrooms | 185 | 174 | -5.9% |
| 4 Bedrooms | 115 | 115 | 0.0% |
| 5+ Bedrooms | 37 | 39 | +5.4% |
Summary: The Centre County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 20%, 3 bedroom homes decreased by 5.9%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 5.4%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 79 | 75 | -5.1% |
Asking Price vs. Sold Price
31 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
27 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Centre County, you may be able to get a good deal. 41.3% of homes here sold below asking price last month.
Summary: A total of 75 homes were sold or pending in Centre County in May 2024, down by 5.1% month-over-month. Of the 75 sold homes, 41% were sold under asking, 23% were sold at asking, and 36% were sold over asking.
Days on Market for Centre County, PA
How long does it take to sell a home in Centre County, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 24 Days | 31 Days | +29.0% |
Summary: Homes in Centre County had an average of 31 days on market in May 2024, up by 29% compared to last year.
Breakdown of Home Sale Times
62 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Centre County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 75 homes were sold in Centre County; 83% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
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IDX Disclaimer/Disclosure: The data on this website relating to real estate for sale comes in part from the IDX Program of the Multiple Listing Service of the Elmira-Corning Regional Association of REALTORS®, Inc.