Is Penn Hills Township, 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, Penn Hills Township has remained a Seller's Market.
Housing Prices in Penn Hills Township, PA
How much do homes in Penn Hills Township, PA cost?
Median Sold Price
$165,777
$125/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Penn Hills Township was $165,777 in May 2024, up 1% from last year, and the median price per square foot was $125.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $112K | $85K | -24.1% |
2 Bedrooms | $128.7K | $124.9K | -3.0% |
3 Bedrooms | $165.6K | $167.3K | +1.0% |
4 Bedrooms | $192K | $204.7K | +6.7% |
5+ Bedrooms | $220.4K | $267.5K | +21.3% |
Summary: Penn Hills Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 24.1%, 2 bedroom homes decreased by 3%, 3 bedroom homes increased by 1%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 21.3%.
Housing Supply in Penn Hills Township, PA
How many homes are available in Penn Hills Township, PA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
183 | 172 | -6.0% |
Summary: The Penn Hills Township real estate market had 172 homes for sale in May 2024, a 6.0% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 28 | 25 | -10.7% |
3 Bedrooms | 115 | 108 | -6.1% |
4 Bedrooms | 36 | 36 | 0.0% |
5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Penn Hills 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 10.7%, 3 bedroom homes decreased by 6.1%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
58 | 36 | -37.9% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 36 homes were sold or pending in Penn Hills Township in May 2024, down by 37.9% month-over-month. Of the 36 sold homes, 36% were sold under asking, 28% were sold at asking, and 36% were sold over asking.
Days on Market for Penn Hills Township, PA
How long does it take to sell a home in Penn Hills Township, PA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
37 Days | 41 Days | +11.0% |
Summary: Homes in Penn Hills Township had an average of 41 days on market in May 2024, up by 11% compared to last year.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During May 2024, 36 homes were sold in Penn Hills Township; 61% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.