Is Fayette County, 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, Fayette County has remained a Seller's Market.
Key Takeaway
Fayette County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Fayette County, PA
How much do homes in Fayette County, PA cost?
Median Sold Price
$162,404
$113/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Fayette County have sold for 0.9% more than they did a year ago.
Summary: The median home sold price in Fayette County was $162,404 in April 2024, up 0.9% from last year, and the median price per square foot was $113.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $49.9K | $99K | +98.4% |
| 2 Bedrooms | $110K | $115K | +4.5% |
| 3 Bedrooms | $170K | $176.5K | +3.9% |
| 4 Bedrooms | $210K | $200K | -4.8% |
| 5+ Bedrooms | $229.9K | $211.2K | -8.1% |
Summary: Fayette County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 98.4%, 2 bedroom homes increased by 4.5%, 3 bedroom homes increased by 3.9%, 4 bedroom homes decreased by 4.8%, and 5+ bedroom homes decreased by 8.1%.
Median Sold Price Compared To Nearby Counties
| Somerset County | $183.2K | $195K | +6.4% |
| Westmoreland County | $192.7K | $204.9K | +6.3% |
| Washington County | $237.3K | $247.7K | +4.3% |
| Fayette County | $160.8K | $162.4K | +0.9% |
| Greene County | $161.9K | $160K | -1.2% |
Housing Supply in Fayette County, PA
How many homes are available in Fayette County, PA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 389 | 422 | +8.5% |
Summary: The Fayette County real estate market had 422 homes for sale in April 2024, a 8.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 3 | -57.1% |
| 2 Bedrooms | 88 | 84 | -4.5% |
| 3 Bedrooms | 204 | 231 | +13.2% |
| 4 Bedrooms | 72 | 81 | +12.5% |
| 5+ Bedrooms | 18 | 23 | +27.8% |
Summary: The Fayette County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 57.1%, 2 bedroom homes decreased by 4.5%, 3 bedroom homes increased by 13.2%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 27.8%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 68 | 71 | +4.4% |
Asking Price vs. Sold Price
44 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Fayette County, you may be able to get a good deal. 62% of homes here sold below asking price last month.
Summary: A total of 71 homes were sold or pending in Fayette County in April 2024, up by 4.4% month-over-month. Of the 71 sold homes, 62% were sold under asking, 18% were sold at asking, and 20% were sold over asking.
Days on Market for Fayette County, PA
How long does it take to sell a home in Fayette County, PA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 75 Days | 67 Days | -10.9% |
Summary: Homes in Fayette County had an average of 67 days on market in Apr 2024, down by 10.9% compared to last year.
Breakdown of Home Sale Times
32 Homes Were Sold
Under 30 Days
17 Homes Were Sold
In 30 - 90 Days
22 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Fayette County are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 71 homes were sold in Fayette County; 45% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 31% of homes were sold over 90 days.
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.