Is Oakmont, 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, Oakmont has remained a Seller's Market.
Key Takeaway
Oakmont is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Oakmont, PA
How much do homes in Oakmont, PA cost?
Median Sold Price
$320,000
$210/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Oakmont have sold for 3.4% more than they did a year ago.
Summary: The median home sold price in Oakmont was $320,000 in May 2024, up 3.4% from last year, and the median price per square foot was $210.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $108K | $225K | +108.3% |
| 2 Bedrooms | $178K | $237K | +33.1% |
| 3 Bedrooms | $300K | $241.9K | -19.4% |
| 4 Bedrooms | $557K | $722.5K | +29.7% |
| 5+ Bedrooms | $655.2K | $635K | -3.1% |
Summary: Oakmont housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 108.3%, 2 bedroom homes increased by 33.1%, 3 bedroom homes decreased by 19.4%, 4 bedroom homes increased by 29.7%, and 5+ bedroom homes decreased by 3.1%.
Median Sold Price Compared To Nearby Cities
| Harmar Township | $212.4K | $325K | +53.0% |
| Oakmont | $309.5K | $320K | +3.4% |
| Penn Hills Township | $164.1K | $165.7K | +1.0% |
| Plum | $239.9K | $240.2K | 0.1% |
| Verona | $170K | $170K | 0.0% |
Housing Supply in Oakmont, PA
How many homes are available in Oakmont, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 38 | 41 | +7.9% |
Summary: The Oakmont real estate market had 41 homes for sale in May 2024, a 7.9% 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 | 6 | 6 | 0.0% |
| 3 Bedrooms | 10 | 11 | +10.0% |
| 4 Bedrooms | 17 | 17 | 0.0% |
| 5+ Bedrooms | 5 | 7 | +40.0% |
Summary: The Oakmont 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 increased by 10%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 10 | 7 | -30.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Oakmont, you could pay more than the asking price. 42.9% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in Oakmont in May 2024, down by 30.0% month-over-month. Of the 7 sold homes, 29% were sold under asking, 29% were sold at asking, and 43% were sold over asking.
Days on Market for Oakmont, PA
How long does it take to sell a home in Oakmont, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 41 Days | 32 Days | -21.8% |
Summary: Homes in Oakmont had an average of 32 days on market in May 2024, down by 21.8% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Oakmont are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 7 homes were sold in Oakmont; 71% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
