Is Mercer 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, Mercer Township was a Seller's Market.
Key Takeaway
Mercer Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Mercer Township, PA
How much do homes in Mercer Township, PA cost?
Median Sold Price
$207,000
$159/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Mercer Township have sold for 1% less than they did a year ago.
Summary: The median home sold price in Mercer Township was $207,000 in May 2024, down 1% from last year, and the median price per square foot was $159.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $130K | - | N/A |
| 2 Bedrooms | $150K | $137.5K | -8.3% |
| 3 Bedrooms | $254.5K | $213K | -16.3% |
| 4 Bedrooms | $144.5K | $307K | +112.4% |
| 5+ Bedrooms | $202.5K | $364.2K | +79.9% |
Summary: Mercer 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 8.3%, 3 bedroom homes decreased by 16.3%, 4 bedroom homes increased by 112.4%, and 5+ bedroom homes increased by 79.9%.
Housing Supply in Mercer Township, PA
How many homes are available in Mercer Township, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 37 | 46 | +24.3% |
Summary: The Mercer Township real estate market had 46 homes for sale in May 2024, a 24.3% increase 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 | 5 | 4 | -20.0% |
| 3 Bedrooms | 23 | 30 | +30.4% |
| 4 Bedrooms | 4 | 6 | +50.0% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Mercer 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 20%, 3 bedroom homes increased by 30.4%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 4 | -50.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Mercer Township, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Mercer Township in May 2024, down by 50.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.
Days on Market for Mercer Township, PA
How long does it take to sell a home in Mercer Township, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 11 Days | 74 Days | +539.5% |
Summary: Homes in Mercer Township had an average of 74 days on market in May 2024, up by 539.5% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mercer Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 4 homes were sold in Mercer Township; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
