Is Mechanicsburg, 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, Mechanicsburg has remained a Seller's Market.
Key Takeaway
Mechanicsburg is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mechanicsburg, PA
How much do homes in Mechanicsburg, PA cost?
Median Sold Price
$360,425
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Mechanicsburg have sold for 8.5% more than they did a year ago.
Summary: The median home sold price in Mechanicsburg was $360,425 in May 2024, up 8.5% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $133K | $140.9K | +5.9% |
| 2 Bedrooms | $210K | $240K | +14.3% |
| 3 Bedrooms | $301.3K | $330.4K | +9.6% |
| 4 Bedrooms | $465K | $495K | +6.5% |
| 5+ Bedrooms | $587.5K | $665.5K | +13.3% |
Summary: Mechanicsburg housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.9%, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 9.6%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes increased by 13.3%.
Median Sold Price Compared To Nearby Cities
| Hampden Township | $335K | $381.6K | +13.9% |
| Mechanicsburg | $332.3K | $360.4K | +8.5% |
| Upper Allen Township | $325K | $343.5K | +5.7% |
| Monroe Township | $380K | $400K | +5.3% |
| Silver Spring Township | $450K | $395K | -12.2% |
Housing Supply in Mechanicsburg, PA
How many homes are available in Mechanicsburg, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 251 | 292 | +16.3% |
Summary: The Mechanicsburg real estate market had 292 homes for sale in May 2024, a 16.3% 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 | 37 | 28 | -24.3% |
| 3 Bedrooms | 107 | 131 | +22.4% |
| 4 Bedrooms | 79 | 101 | +27.8% |
| 5+ Bedrooms | 27 | 31 | +14.8% |
Summary: The Mechanicsburg 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 24.3%, 3 bedroom homes increased by 22.4%, 4 bedroom homes increased by 27.8%, and 5+ bedroom homes increased by 14.8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 56 | 54 | -3.6% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
34 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mechanicsburg, you could pay more than the asking price. 63% of homes here sold above asking price last month.
Summary: A total of 54 homes were sold or pending in Mechanicsburg in May 2024, down by 3.6% month-over-month. Of the 54 sold homes, 17% were sold under asking, 20% were sold at asking, and 63% were sold over asking.
Days on Market for Mechanicsburg, PA
How long does it take to sell a home in Mechanicsburg, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 24 Days | 18 Days | -25.9% |
Summary: Homes in Mechanicsburg had an average of 18 days on market in May 2024, down by 25.9% compared to last year.
Breakdown of Home Sale Times
49 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mechanicsburg are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 54 homes were sold in Mechanicsburg; 91% of homes were sold within 30 days, 2% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
