Is Cumberland County, 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, Cumberland County has remained a Seller's Market.
Key Takeaway
Cumberland County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cumberland County, PA
How much do homes in Cumberland County, PA cost?
Median Sold Price
$300,583
$167/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Cumberland County have sold for 6.7% more than they did a year ago.
Summary: The median home sold price in Cumberland County was $300,583 in May 2024, up 6.7% from last year, and the median price per square foot was $167.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $113K | $140.9K | +24.7% |
| 2 Bedrooms | $195.5K | $208.5K | +6.7% |
| 3 Bedrooms | $260K | $280.8K | +8.0% |
| 4 Bedrooms | $401.4K | $409.3K | +2.0% |
| 5+ Bedrooms | $542.4K | $566.2K | +4.4% |
Summary: Cumberland County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 24.7%, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 2%, and 5+ bedroom homes increased by 4.4%.
Median Sold Price Compared To Nearby Counties
| Perry County | $229.4K | $251K | +9.4% |
| Dauphin County | $219.9K | $234.9K | +6.8% |
| Cumberland County | $281.8K | $300.5K | +6.7% |
| Adams County | $277K | $292K | +5.4% |
| Franklin County | $259.6K | $268.7K | +3.5% |
Housing Supply in Cumberland County, PA
How many homes are available in Cumberland County, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 731 | 811 | +10.9% |
Summary: The Cumberland County real estate market had 811 homes for sale in May 2024, a 10.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 104 | 94 | -9.6% |
| 3 Bedrooms | 357 | 420 | +17.6% |
| 4 Bedrooms | 212 | 233 | +9.9% |
| 5+ Bedrooms | 56 | 62 | +10.7% |
Summary: The Cumberland County 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 9.6%, 3 bedroom homes increased by 17.6%, 4 bedroom homes increased by 9.9%, and 5+ bedroom homes increased by 10.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 162 | 169 | +4.3% |
Asking Price vs. Sold Price
35 Homes Were Sold
Under Asking
40 Homes Were Sold
At Asking
94 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cumberland County, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.
Summary: A total of 169 homes were sold or pending in Cumberland County in May 2024, up by 4.3% month-over-month. Of the 169 sold homes, 21% were sold under asking, 24% were sold at asking, and 56% were sold over asking.
Days on Market for Cumberland County, PA
How long does it take to sell a home in Cumberland County, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 23 Days | 17 Days | -26.6% |
Summary: Homes in Cumberland County had an average of 17 days on market in May 2024, down by 26.6% compared to last year.
Breakdown of Home Sale Times
148 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cumberland County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 169 homes were sold in Cumberland County; 88% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
