Is West Penn Township, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, West Penn Township was a Neutral Market.
Key Takeaway
West Penn Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in West Penn Township, PA
How much do homes in West Penn Township, PA cost?
Median Sold Price
$310,000
$150/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in West Penn Township have sold for 17% more than they did a year ago.
Summary: The median home sold price in West Penn Township was $310,000 in May 2024, up 17% from last year, and the median price per square foot was $150.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $233.7K | $207.4K | -11.3% |
| 3 Bedrooms | $255K | $310K | +21.6% |
| 4 Bedrooms | $270.1K | $340K | +25.9% |
| 5+ Bedrooms | $320K | - | N/A |
Summary: West Penn Township 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 decreased by 11.3%, 3 bedroom homes increased by 21.6%, 4 bedroom homes increased by 25.9%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| West Penn Township | $265K | $310K | +17.0% |
| Tamaqua | $140K | $141.7K | +1.3% |
Housing Supply in West Penn Township, PA
How many homes are available in West Penn Township, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 9 | 8 | -11.1% |
Summary: The West Penn Township real estate market had 8 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 6 | 6 | 0.0% |
| 4 Bedrooms | 3 | 2 | -33.3% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The West Penn 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 3 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Penn Township, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in West Penn Township in May 2024, the same as the previous month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for West Penn Township, PA
How long does it take to sell a home in West Penn Township, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 13 Days | 10 Days | -21.0% |
Summary: Homes in West Penn Township had an average of 10 days on market in May 2024, down by 21% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in West Penn Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 3 homes were sold in West Penn Township; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
