Is Cranberry 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, Cranberry Township has remained a Seller's Market.
Key Takeaway
Cranberry Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cranberry Township, PA
How much do homes in Cranberry Township, PA cost?
Median Sold Price
$420,495
$209/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Cranberry Township have sold for 1.3% more than they did a year ago.
Summary: The median home sold price in Cranberry Township was $420,495 in May 2024, up 1.3% from last year, and the median price per square foot was $209.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $119K | - | N/A |
| 2 Bedrooms | $209K | $222K | +6.2% |
| 3 Bedrooms | $360K | $356.7K | -0.9% |
| 4 Bedrooms | $509.5K | $520.5K | +2.2% |
| 5+ Bedrooms | $718.7K | $855K | +19.0% |
Summary: Cranberry 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 increased by 6.2%, 3 bedroom homes decreased by 0.9%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes increased by 19%.
Median Sold Price Compared To Nearby Cities
| Adams Township | $485K | $555K | +14.4% |
| Seven Fields | $323.9K | $331.2K | +2.2% |
| Cranberry Township | $415K | $420.4K | +1.3% |
| Marshall Township | $539K | $512.5K | -4.9% |
Housing Supply in Cranberry Township, PA
How many homes are available in Cranberry Township, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 150 | 145 | -3.3% |
Summary: The Cranberry Township real estate market had 145 homes for sale in May 2024, a 3.3% 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 | 18 | 12 | -33.3% |
| 3 Bedrooms | 55 | 54 | -1.8% |
| 4 Bedrooms | 59 | 63 | +6.8% |
| 5+ Bedrooms | 18 | 16 | -11.1% |
Summary: The Cranberry 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 33.3%, 3 bedroom homes decreased by 1.8%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes decreased by 11.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 47 | 37 | -21.3% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cranberry Township, you could pay more than the asking price. 45.9% of homes here sold above asking price last month.
Summary: A total of 37 homes were sold or pending in Cranberry Township in May 2024, down by 21.3% month-over-month. Of the 37 sold homes, 38% were sold under asking, 16% were sold at asking, and 46% were sold over asking.
Days on Market for Cranberry Township, PA
How long does it take to sell a home in Cranberry Township, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 18 Days | 32 Days | +74.8% |
Summary: Homes in Cranberry Township had an average of 32 days on market in May 2024, up by 74.8% compared to last year.
Breakdown of Home Sale Times
27 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cranberry Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 37 homes were sold in Cranberry Township; 73% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
