Is Washington, 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, Washington has remained a Seller's Market.
Key Takeaway
Washington is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Washington, PA
How much do homes in Washington, PA cost?
Median Sold Price
$221,000
$145/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Washington have sold for 2.8% more than they did a year ago.
Summary: The median home sold price in Washington was $221,000 in May 2024, up 2.8% from last year, and the median price per square foot was $145.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $37.5K | $90K | +140.0% |
| 2 Bedrooms | $155K | $146.5K | -5.5% |
| 3 Bedrooms | $221K | $225K | +1.8% |
| 4 Bedrooms | $293.5K | $312K | +6.3% |
| 5+ Bedrooms | $345K | $365K | +5.8% |
Summary: Washington housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 140%, 2 bedroom homes decreased by 5.5%, 3 bedroom homes increased by 1.8%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes increased by 5.8%.
Median Sold Price Compared To Nearby Cities
| South Strabane Township | $245K | $277.6K | +13.3% |
| East Washington | $245K | $252.2K | +3.0% |
| Washington | $214.9K | $221K | +2.8% |
| North Franklin Township | $229K | $215.7K | -5.8% |
| Canton Township | $231.2K | $204K | -11.8% |
Housing Supply in Washington, PA
How many homes are available in Washington, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 145 | 156 | +7.6% |
Summary: The Washington real estate market had 156 homes for sale in May 2024, a 7.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 30 | 36 | +20.0% |
| 3 Bedrooms | 81 | 85 | +4.9% |
| 4 Bedrooms | 21 | 22 | +4.8% |
| 5+ Bedrooms | 11 | 10 | -9.1% |
Summary: The Washington housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 4.9%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes decreased by 9.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 43 | 31 | -27.9% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Washington, you may be able to get a good deal. 45.2% of homes here sold below asking price last month.
Summary: A total of 31 homes were sold or pending in Washington in May 2024, down by 27.9% month-over-month. Of the 31 sold homes, 45% were sold under asking, 19% were sold at asking, and 35% were sold over asking.
Days on Market for Washington, PA
How long does it take to sell a home in Washington, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 41 Days | 32 Days | -20.4% |
Summary: Homes in Washington had an average of 32 days on market in May 2024, down by 20.4% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Washington are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 31 homes were sold in Washington; 61% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
