Is South Fayette 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, South Fayette Township has remained a Seller's Market.
Key Takeaway
South Fayette Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in South Fayette Township, PA
How much do homes in South Fayette Township, PA cost?
Median Sold Price
$340,000
$181/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in South Fayette Township have sold for 1% less than they did a year ago.
Summary: The median home sold price in South Fayette Township was $340,000 in May 2024, down 1% from last year, and the median price per square foot was $181.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $80K | $82K | +2.5% |
| 2 Bedrooms | $168K | $147.5K | -12.2% |
| 3 Bedrooms | $300K | $307K | +2.3% |
| 4 Bedrooms | $485K | $478K | -1.4% |
| 5+ Bedrooms | $622.4K | $586K | -5.9% |
Summary: South Fayette Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.5%, 2 bedroom homes decreased by 12.2%, 3 bedroom homes increased by 2.3%, 4 bedroom homes decreased by 1.4%, and 5+ bedroom homes decreased by 5.9%.
Median Sold Price Compared To Nearby Cities
| Presto | $700K | $700K | 0.0% |
| South Fayette Township | $343.5K | $340K | -1.0% |
| Oakdale | $276K | $269K | -2.5% |
Housing Supply in South Fayette Township, PA
How many homes are available in South Fayette Township, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 102 | 116 | +13.7% |
Summary: The South Fayette Township real estate market had 116 homes for sale in May 2024, a 13.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 13 | 11 | -15.4% |
| 3 Bedrooms | 41 | 46 | +12.2% |
| 4 Bedrooms | 45 | 53 | +17.8% |
| 5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The South Fayette Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 15.4%, 3 bedroom homes increased by 12.2%, 4 bedroom homes increased by 17.8%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 21 | 28 | +33.3% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Fayette Township, you may be able to get a good deal. 46.4% of homes here sold below asking price last month.
Summary: A total of 28 homes were sold or pending in South Fayette Township in May 2024, up by 33.3% month-over-month. Of the 28 sold homes, 46% were sold under asking, 14% were sold at asking, and 39% were sold over asking.
Days on Market for South Fayette Township, PA
How long does it take to sell a home in South Fayette Township, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 29 Days | 36 Days | +26.3% |
Summary: Homes in South Fayette Township had an average of 36 days on market in May 2024, up by 26.3% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in South Fayette Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 28 homes were sold in South Fayette Township; 61% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
