Is Garfield, 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, Garfield has remained a Seller's Market.
Key Takeaway
Garfield is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Garfield, PA
How much do homes in Garfield, PA cost?
Median Sold Price
$230,000
$128/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Garfield have sold for 6.7% more than they did a year ago.
Summary: The median home sold price in Garfield was $230,000 in May 2024, up 6.7% from last year, and the median price per square foot was $128.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $252.5K | N/A |
| 2 Bedrooms | $160K | $105K | -34.4% |
| 3 Bedrooms | $332.5K | $281.1K | -15.5% |
| 4 Bedrooms | $227.5K | $199.5K | -12.3% |
| 5+ Bedrooms | $205K | $665K | +224.4% |
Summary: Garfield housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 34.4%, 3 bedroom homes decreased by 15.5%, 4 bedroom homes decreased by 12.3%, and 5+ bedroom homes increased by 224.4%.
Median Sold Price Compared To Nearby Neighborhoods
| Central Lawrenceville | $357K | $460K | +28.8% |
| Stanton Heights | $237.5K | $269.1K | +13.3% |
| Lawrenceville | $359.5K | $389.9K | +8.4% |
| Garfield | $215.5K | $230K | +6.7% |
| East Liberty | $470K | $496.2K | +5.6% |
Housing Supply in Garfield, PA
How many homes are available in Garfield, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 24 | 27 | +12.5% |
Summary: The Garfield real estate market had 27 homes for sale in May 2024, a 12.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 8 | 6 | -25.0% |
| 3 Bedrooms | 7 | 12 | +71.4% |
| 4 Bedrooms | 8 | 8 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Garfield 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 decreased by 25%, 3 bedroom homes increased by 71.4%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 5 | +66.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Garfield, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Garfield in May 2024, up by 66.7% month-over-month. Of the 5 sold homes, 60% were sold under asking, 40% were sold at asking, and 0% were sold over asking.
Days on Market for Garfield, PA
How long does it take to sell a home in Garfield, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 46 Days | 18 Days | -60.9% |
Summary: Homes in Garfield had an average of 18 days on market in May 2024, down by 60.9% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Garfield are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 5 homes were sold in Garfield; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
