Is Luzerne Township, 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, Luzerne Township has remained a Seller's Market.
Key Takeaway
Luzerne Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Luzerne Township, PA
How much do homes in Luzerne Township, PA cost?
Median Sold Price
$100,000
$60/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Luzerne Township have sold for 21.6% less than they did a year ago.
Summary: The median home sold price in Luzerne Township was $100,000 in May 2024, down 21.6% from last year, and the median price per square foot was $60.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $72.5K | $99.5K | +37.2% |
| 3 Bedrooms | $180K | $90K | -50.0% |
| 4 Bedrooms | $132.5K | $164K | +23.8% |
| 5+ Bedrooms | - | - | N/A |
Summary: Luzerne Township 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 increased by 37.2%, 3 bedroom homes decreased by 50%, 4 bedroom homes increased by 23.8%, and 5+ bedroom homes did not change.
Housing Supply in Luzerne Township, PA
How many homes are available in Luzerne Township, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 15 | 14 | -6.7% |
Summary: The Luzerne Township real estate market had 14 homes for sale in May 2024, a 6.7% 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 | 4 | 5 | +25.0% |
| 3 Bedrooms | 8 | 5 | -37.5% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Luzerne Township 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 increased by 25%, 3 bedroom homes decreased by 37.5%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 3 | +50.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Luzerne Township, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Luzerne Township in May 2024, up by 50.0% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Luzerne Township, PA
How long does it take to sell a home in Luzerne Township, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 166 Days | 133 Days | -19.7% |
Summary: Homes in Luzerne Township had an average of 133 days on market in May 2024, down by 19.7% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Luzerne Township are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During May 2024, 3 homes were sold in Luzerne Township; 0% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 67% of homes were sold over 90 days.
