Is Orefield, 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, Orefield has remained a Seller's Market.
Key Takeaway
Orefield is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Orefield, PA
How much do homes in Orefield, PA cost?
Median Sold Price
$482,500
$193/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Orefield have sold for 23.7% more than they did a year ago.
Summary: The median home sold price in Orefield was $482,500 in May 2024, up 23.7% from last year, and the median price per square foot was $193.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $258K | $377.5K | +46.3% |
| 3 Bedrooms | $320K | $411.5K | +28.6% |
| 4 Bedrooms | $525K | $610.6K | +16.3% |
| 5+ Bedrooms | $452.5K | $1.0M | +126.5% |
Summary: Orefield 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 46.3%, 3 bedroom homes increased by 28.6%, 4 bedroom homes increased by 16.3%, and 5+ bedroom homes increased by 126.5%.
Median Sold Price Compared To Nearby Cities
| Schnecksville | $455K | $572.2K | +25.8% |
| Orefield | $390K | $482.5K | +23.7% |
| Upper Macungie Township | $425K | $471.4K | +10.9% |
| Fogelsville | $620K | $635.2K | +2.5% |
Housing Supply in Orefield, PA
How many homes are available in Orefield, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 21 | 19 | -9.5% |
Summary: The Orefield real estate market had 19 homes for sale in May 2024, a 9.5% 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 10 | 5 | -50.0% |
| 4 Bedrooms | 7 | 9 | +28.6% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Orefield 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 decreased by 50%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 9 | 4 | -55.6% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Orefield, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Orefield in May 2024, down by 55.6% month-over-month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.
Days on Market for Orefield, PA
How long does it take to sell a home in Orefield, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 22 Days | 8 Days | -63.6% |
Summary: Homes in Orefield had an average of 8 days on market in May 2024, down by 63.6% compared to last year.
Breakdown of Home Sale Times
4 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 Orefield are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 4 homes were sold in Orefield; 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.
