Is Smithfield Township, 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, Smithfield Township was a Buyer's Market.
Key Takeaway
Smithfield Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Smithfield Township, PA
How much do homes in Smithfield Township, PA cost?
Median Sold Price
$262,500
$139/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Smithfield Township have sold for 31.3% more than they did a year ago.
Summary: The median home sold price in Smithfield Township was $262,500 in May 2024, up 31.3% from last year, and the median price per square foot was $139.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $110K | $156.5K | +42.3% |
| 3 Bedrooms | $205K | $235K | +14.6% |
| 4 Bedrooms | $415K | $422.4K | +1.8% |
| 5+ Bedrooms | $454.2K | $712.4K | +56.8% |
Summary: Smithfield 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 42.3%, 3 bedroom homes increased by 14.6%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes increased by 56.8%.
Median Sold Price Compared To Nearby Cities
| Smithfield Township | $200K | $262.5K | +31.3% |
| East Stroudsburg | $281.5K | $325K | +15.5% |
Housing Supply in Smithfield Township, PA
How many homes are available in Smithfield Township, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 18 | 18 | 0.0% |
Summary: The Smithfield Township real estate market had 18 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 10 | 9 | -10.0% |
| 4 Bedrooms | 3 | 6 | +100.0% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Smithfield 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 decreased by 50%, 3 bedroom homes decreased by 10%, 4 bedroom homes increased by 100%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1 | 6 | +500.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Smithfield Township, you may be able to get a good deal. 83.3% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Smithfield Township in May 2024, up by 500.0% month-over-month. Of the 6 sold homes, 83% were sold under asking, 17% were sold at asking, and 0% were sold over asking.
Days on Market for Smithfield Township, PA
How long does it take to sell a home in Smithfield Township, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 14 Days | 114 Days | +719.0% |
Summary: Homes in Smithfield Township had an average of 114 days on market in May 2024, up by 719% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Smithfield Township are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During May 2024, 6 homes were sold in Smithfield Township; 17% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
