Is Lower Burrell, 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, Lower Burrell has remained a Seller's Market.
Housing Prices in Lower Burrell, PA
How much do homes in Lower Burrell, PA cost?
Median Sold Price
$205,000
$168/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lower Burrell was $205,000 in May 2024, up 13.9% from last year, and the median price per square foot was $168.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $72.4K | - | N/A |
2 Bedrooms | $140K | $164K | +17.1% |
3 Bedrooms | $185K | $206K | +11.4% |
4 Bedrooms | $262.4K | $263K | 0.2% |
5+ Bedrooms | $262.5K | $367.5K | +40.0% |
Summary: Lower Burrell 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 17.1%, 3 bedroom homes increased by 11.4%, 4 bedroom homes increased by 0.2%, and 5+ bedroom homes increased by 40%.
Median Sold Price Compared To Nearby Cities
Lower Burrell | $180K | $205K | +13.9% |
New Kensington | $157.7K | $168.3K | +6.7% |
Tarentum | $149K | $132K | -11.4% |
Brackenridge | $125K | $109.5K | -12.4% |
Housing Supply in Lower Burrell, PA
How many homes are available in Lower Burrell, PA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
36 | 32 | -11.1% |
Summary: The Lower Burrell real estate market had 32 homes for sale in May 2024, a 11.1% decrease 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 | 8 | 6 | -25.0% |
3 Bedrooms | 22 | 21 | -4.5% |
4 Bedrooms | 5 | 5 | 0.0% |
5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Lower Burrell 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 25%, 3 bedroom homes decreased by 4.5%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
13 | 8 | -38.5% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 8 homes were sold or pending in Lower Burrell in May 2024, down by 38.5% month-over-month. Of the 8 sold homes, 75% were sold under asking, 13% were sold at asking, and 13% were sold over asking.
Days on Market for Lower Burrell, PA
How long does it take to sell a home in Lower Burrell, PA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
42 Days | 16 Days | -62.3% |
Summary: Homes in Lower Burrell had an average of 16 days on market in May 2024, down by 62.3% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 8 homes were sold in Lower Burrell; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.