Is Homestead, 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, Homestead has remained a Seller's Market.
Key Takeaway
Homestead is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Homestead, PA
How much do homes in Homestead, PA cost?
Median Sold Price
$151,575
$110/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Homestead have sold for 4.5% more than they did a year ago.
Summary: The median home sold price in Homestead was $151,575 in May 2024, up 4.5% from last year, and the median price per square foot was $110.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $52.5K | N/A |
| 2 Bedrooms | $115K | $121.5K | +5.7% |
| 3 Bedrooms | $157.5K | $169.9K | +7.9% |
| 4 Bedrooms | $179.9K | $220K | +22.3% |
| 5+ Bedrooms | $169K | $162.5K | -3.8% |
Summary: Homestead 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 5.7%, 3 bedroom homes increased by 7.9%, 4 bedroom homes increased by 22.3%, and 5+ bedroom homes decreased by 3.8%.
Median Sold Price Compared To Nearby Cities
| Munhall | $147.4K | $161.2K | +9.4% |
| Pittsburgh | $230.7K | $241.5K | +4.7% |
| Homestead | $145K | $151.5K | +4.5% |
| West Homestead | $169.9K | $177K | +4.2% |
Housing Supply in Homestead, PA
How many homes are available in Homestead, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 73 | 77 | +5.5% |
Summary: The Homestead real estate market had 77 homes for sale in May 2024, a 5.5% increase 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 | 28 | 29 | +3.6% |
| 3 Bedrooms | 32 | 33 | +3.1% |
| 4 Bedrooms | 11 | 13 | +18.2% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Homestead 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 increased by 3.6%, 3 bedroom homes increased by 3.1%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 16 | 0.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Homestead, you could pay more than the asking price. 43.8% of homes here sold above asking price last month.
Summary: A total of 16 homes were sold or pending in Homestead in May 2024, the same as the previous month. Of the 16 sold homes, 38% were sold under asking, 19% were sold at asking, and 44% were sold over asking.
Days on Market for Homestead, PA
How long does it take to sell a home in Homestead, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 34 Days | 29 Days | -13.2% |
Summary: Homes in Homestead had an average of 29 days on market in May 2024, down by 13.2% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Homestead are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 16 homes were sold in Homestead; 56% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.