Is Mayfair, 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, Mayfair was a Seller's Market.
Key Takeaway
Mayfair is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Mayfair, PA
How much do homes in Mayfair, PA cost?
Median Sold Price
$245,000
$191/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Mayfair have sold for 2.1% more than they did a year ago.
Summary: The median home sold price in Mayfair was $245,000 in May 2024, up 2.1% from last year, and the median price per square foot was $191.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $176.5K | $189K | +7.1% |
| 3 Bedrooms | $248K | $245K | -1.2% |
| 4 Bedrooms | $250K | $275K | +10.0% |
| 5+ Bedrooms | $255K | $320K | +25.5% |
Summary: Mayfair 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 7.1%, 3 bedroom homes decreased by 1.2%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 25.5%.
Median Sold Price Compared To Nearby Neighborhoods
| Wissinoming | $185K | $194K | +4.9% |
| Oxford Circle | $224.9K | $230.2K | +2.4% |
| Mayfair | $240K | $245K | +2.1% |
| Near Northeast Philadelphia | $219.9K | $220K | 0.0% |
| Lexington Park | $315K | $315K | 0.0% |
Housing Supply in Mayfair, PA
How many homes are available in Mayfair, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 87 | 91 | +4.6% |
Summary: The Mayfair real estate market had 91 homes for sale in May 2024, a 4.6% increase 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 | 6 | 8 | +33.3% |
| 3 Bedrooms | 80 | 81 | +1.3% |
| 4 Bedrooms | 1 | 2 | +100.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Mayfair 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 33.3%, 3 bedroom homes increased by 1.3%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 9 | -43.8% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mayfair, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Mayfair in May 2024, down by 43.8% month-over-month. Of the 9 sold homes, 56% were sold under asking, 11% were sold at asking, and 33% were sold over asking.
Days on Market for Mayfair, PA
How long does it take to sell a home in Mayfair, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 39 Days | 19 Days | -51.4% |
Summary: Homes in Mayfair had an average of 19 days on market in May 2024, down by 51.4% compared to last year.
Breakdown of Home Sale Times
8 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 Mayfair are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 9 homes were sold in Mayfair; 89% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
