Is Farmington, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Farmington was a Seller's Market.
Housing Prices in Farmington, PA
How much do homes in Farmington, PA cost?
Median Sold Price
$290,000
$224/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Farmington was $290,000 in May 2024, down 13.4% from last year, and the median price per square foot was $224.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $99K | $160K | +61.6% |
2 Bedrooms | $305K | $289.5K | -5.1% |
3 Bedrooms | $390K | $285K | -26.9% |
4 Bedrooms | $1.0M | $380K | -64.6% |
5+ Bedrooms | - | $475K | N/A |
Summary: Farmington housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 61.6%, 2 bedroom homes decreased by 5.1%, 3 bedroom homes decreased by 26.9%, 4 bedroom homes decreased by 64.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Wharton Township | $282K | $290K | +2.8% |
Hopwood | $215K | $190K | -11.6% |
Farmington | $335K | $290K | -13.4% |
Housing Supply in Farmington, PA
How many homes are available in Farmington, PA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
9 | 8 | -11.1% |
Summary: The Farmington real estate market had 8 homes for sale in May 2024, a 11.1% 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 | 2 | 2 | 0.0% |
3 Bedrooms | 4 | 4 | 0.0% |
4 Bedrooms | 0 | 0 | 0.0% |
5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Farmington 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 remained the same, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
2 | 1 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 1 homes were sold or pending in Farmington in May 2024, down by 50.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Farmington, PA
How long does it take to sell a home in Farmington, PA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
133 Days | 257 Days | +92.7% |
Summary: Homes in Farmington had an average of 257 days on market in May 2024, up by 92.7% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 1 homes were sold in Farmington; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.