Is Mercer 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, Mercer County has remained a Seller's Market.
Housing Prices in Mercer County, PA
How much do homes in Mercer County, PA cost?
Median Sold Price
$151,705
$112/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Mercer County was $151,705 in April 2024, up 8.3% from last year, and the median price per square foot was $112.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $106K | $46.2K | -56.4% |
2 Bedrooms | $85.4K | $118.5K | +38.7% |
3 Bedrooms | $142.6K | $154.3K | +8.2% |
4 Bedrooms | $190.6K | $220.5K | +15.7% |
5+ Bedrooms | $260K | $327.5K | +26.0% |
Summary: Mercer County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 56.4%, 2 bedroom homes increased by 38.7%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 15.7%, and 5+ bedroom homes increased by 26%.
Median Sold Price Compared To Nearby Counties
Mercer County | $140K | $151.7K | +8.3% |
Butler County | $308.6K | $330.9K | +7.2% |
Trumbull County | $139.9K | $146.1K | +4.4% |
Housing Supply in Mercer County, PA
How many homes are available in Mercer County, PA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
288 | 316 | +9.7% |
Summary: The Mercer County real estate market had 316 homes for sale in April 2024, a 9.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 49 | 55 | +12.2% |
3 Bedrooms | 181 | 188 | +3.9% |
4 Bedrooms | 42 | 52 | +23.8% |
5+ Bedrooms | 13 | 18 | +38.5% |
Summary: The Mercer County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 12.2%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 23.8%, and 5+ bedroom homes increased by 38.5%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
50 | 54 | +8.0% |
Asking Price vs. Sold Price
26 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Summary: A total of 54 homes were sold or pending in Mercer County in April 2024, up by 8.0% month-over-month. Of the 54 sold homes, 48% were sold under asking, 24% were sold at asking, and 28% were sold over asking.
Days on Market for Mercer County, PA
How long does it take to sell a home in Mercer County, PA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
71 Days | 68 Days | -4.1% |
Summary: Homes in Mercer County had an average of 68 days on market in Apr 2024, down by 4.1% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
20 Homes Were Sold
Over 90 Days
Summary: During April 2024, 54 homes were sold in Mercer County; 37% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 37% of homes were sold over 90 days.