Is Olney, 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, Olney was a Seller's Market.
Key Takeaway
Olney is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Olney, PA
How much do homes in Olney, PA cost?
Median Sold Price
$175,000
$141/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since May 2023.
Key Takeaway
The sold price of homes in Olney has remained the same since last year.
Summary: The median home sold price in Olney was $175,000 in May 2024, the same as last year, and the median price per square foot was $141.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $139.9K | $174K | +24.4% |
| 3 Bedrooms | $170K | $169.9K | -0.1% |
| 4 Bedrooms | $225K | $225K | 0.0% |
| 5+ Bedrooms | $165K | $257.5K | +56.1% |
Summary: Olney 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 24.4%, 3 bedroom homes decreased by 0.1%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 56.1%.
Median Sold Price Compared To Nearby Neighborhoods
| Logan | $125K | $135K | +8.0% |
| Crescentville | $196.7K | $207.7K | +5.6% |
| Olney | $175K | $175K | 0.0% |
Housing Supply in Olney, PA
How many homes are available in Olney, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 64 | 76 | +18.8% |
Summary: The Olney real estate market had 76 homes for sale in May 2024, a 18.8% 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 53 | 60 | +13.2% |
| 4 Bedrooms | 10 | 15 | +50.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Olney 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 remained the same, 3 bedroom homes increased by 13.2%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 10 | 10 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Olney, expect to pay close to the asking price. 40% of homes here sold near the asking price last month.
Summary: A total of 10 homes were sold or pending in Olney in May 2024, the same as the previous month. Of the 10 sold homes, 20% were sold under asking, 40% were sold at asking, and 40% were sold over asking.
Days on Market for Olney, PA
How long does it take to sell a home in Olney, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 75 Days | 40 Days | -45.5% |
Summary: Homes in Olney had an average of 40 days on market in May 2024, down by 45.5% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Olney are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 10 homes were sold in Olney; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
