Is New Kensington, 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, New Kensington has remained a Seller's Market.
Key Takeaway
New Kensington is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in New Kensington, PA
How much do homes in New Kensington, PA cost?
Median Sold Price
$168,333
$148/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in New Kensington have sold for 6.7% more than they did a year ago.
Summary: The median home sold price in New Kensington was $168,333 in May 2024, up 6.7% from last year, and the median price per square foot was $148.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $72.4K | $91.2K | +26.0% |
| 2 Bedrooms | $125K | $136.1K | +8.9% |
| 3 Bedrooms | $169K | $182.4K | +8.0% |
| 4 Bedrooms | $175K | $214K | +22.3% |
| 5+ Bedrooms | $282K | $191K | -32.3% |
Summary: New Kensington housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 26%, 2 bedroom homes increased by 8.9%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 22.3%, and 5+ bedroom homes decreased by 32.3%.
Median Sold Price Compared To Nearby Cities
| Lower Burrell | $180K | $205K | +13.9% |
| New Kensington | $157.7K | $168.3K | +6.7% |
| Arnold | $91.5K | $83K | -9.3% |
Housing Supply in New Kensington, PA
How many homes are available in New Kensington, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 133 | 138 | +3.8% |
Summary: The New Kensington real estate market had 138 homes for sale in May 2024, a 3.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 3 | -25.0% |
| 2 Bedrooms | 29 | 23 | -20.7% |
| 3 Bedrooms | 74 | 81 | +9.5% |
| 4 Bedrooms | 19 | 24 | +26.3% |
| 5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The New Kensington housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes decreased by 20.7%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 26.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 27 | 37 | +37.0% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in New Kensington, you may be able to get a good deal. 59.5% of homes here sold below asking price last month.
Summary: A total of 37 homes were sold or pending in New Kensington in May 2024, up by 37.0% month-over-month. Of the 37 sold homes, 59% were sold under asking, 22% were sold at asking, and 19% were sold over asking.
Days on Market for New Kensington, PA
How long does it take to sell a home in New Kensington, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 42 Days | 82 Days | +95.5% |
Summary: Homes in New Kensington had an average of 82 days on market in May 2024, up by 95.5% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in New Kensington are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 37 homes were sold in New Kensington; 54% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.