Is Mechanicsburg, 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, Mechanicsburg has remained a Seller's Market.
Key Takeaway
Mechanicsburg is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mechanicsburg, PA
How much do homes in Mechanicsburg, PA cost?
Median Sold Price
$359,982
$177/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Mechanicsburg have sold for 12.1% more than they did a year ago.
Summary: The median home sold price in Mechanicsburg was $359,982 in April 2024, up 12.1% from last year, and the median price per square foot was $177.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $133.9K | $138.9K | +3.7% |
| 2 Bedrooms | $191K | $240K | +25.7% |
| 3 Bedrooms | $296.7K | $329.9K | +11.2% |
| 4 Bedrooms | $454K | $497.4K | +9.6% |
| 5+ Bedrooms | $584K | $675K | +15.6% |
Summary: Mechanicsburg housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.7%, 2 bedroom homes increased by 25.7%, 3 bedroom homes increased by 11.2%, 4 bedroom homes increased by 9.6%, and 5+ bedroom homes increased by 15.6%.
Median Sold Price Compared To Nearby Cities
| Hampden Township | $325K | $375K | +15.4% |
| Mechanicsburg | $321K | $359.9K | +12.1% |
| Upper Allen Township | $322.1K | $344.4K | +6.9% |
| Monroe Township | $377.5K | $400K | +6.0% |
| Silver Spring Township | $429.9K | $400K | -7.0% |
Housing Supply in Mechanicsburg, PA
How many homes are available in Mechanicsburg, PA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 236 | 244 | +3.4% |
Summary: The Mechanicsburg real estate market had 244 homes for sale in April 2024, a 3.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 38 | 34 | -10.5% |
| 3 Bedrooms | 103 | 105 | +1.9% |
| 4 Bedrooms | 69 | 75 | +8.7% |
| 5+ Bedrooms | 25 | 29 | +16.0% |
Summary: The Mechanicsburg 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 decreased by 10.5%, 3 bedroom homes increased by 1.9%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes increased by 16%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 72 | 52 | -27.8% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
32 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mechanicsburg, you could pay more than the asking price. 61.5% of homes here sold above asking price last month.
Summary: A total of 52 homes were sold or pending in Mechanicsburg in April 2024, down by 27.8% month-over-month. Of the 52 sold homes, 21% were sold under asking, 17% were sold at asking, and 62% were sold over asking.
Days on Market for Mechanicsburg, PA
How long does it take to sell a home in Mechanicsburg, PA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 35 Days | 22 Days | -37.6% |
Summary: Homes in Mechanicsburg had an average of 22 days on market in Apr 2024, down by 37.6% compared to last year.
Breakdown of Home Sale Times
41 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mechanicsburg are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 52 homes were sold in Mechanicsburg; 79% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
