Is 16001, PA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 16001 is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 16001 was a Seller's Market.

Key Takeaway

16001 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in 16001, PA

How much do homes in 16001, PA cost?

Median Sold Price

$210,000

$140/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$11,000(+5.5%)

Key Takeaway

Homes in 16001 have sold for 5.5% more than they did a year ago.

Summary: The median home sold price in 16001 was $210,000 in October 2024, up 5.5% from last year, and the median price per square foot was $140.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $156K$95.2K
-38.9%
2 $149.9K$166K
+10.7%
3 $200K$215K
+7.5%
4 $240K$253K
+5.4%
5+ $180K$308.4K
+71.4%

Summary: 16001 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 38.9%, 2 bedroom homes increased by 10.7%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes increased by 71.4%.

Median Sold Price Compared To Nearby Zip Codes

16002
+15.9%
16001
+5.5%

Housing Supply in 16001, PA

How many homes are available in 16001, PA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
157167+6.4%

Summary: The 16001 real estate market had 167 homes for sale in October 2024, a 6.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 1420
+42.9%
3 9592
-3.2%
4 3843
+13.2%
5+ 911
+22.2%

Summary: The 16001 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 42.9%, 3 bedroom homes decreased by 3.2%, 4 bedroom homes increased by 13.2%, and 5+ bedroom homes increased by 22.2%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2825-10.7%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 16001, you may be able to get a good deal. 48% of homes here sold below asking price last month.

Summary: A total of 25 homes were sold or pending in 16001 in October 2024, down by 10.7% month-over-month. Of the 25 sold homes, 48% were sold under asking, 24% were sold at asking, and 28% were sold over asking.

Days on Market for 16001, PA

How long does it take to sell a home in 16001, PA?

Average Sale Time

Oct 2023Oct 2024CHANGE
55 Days43 Days-22.8%

Summary: Homes in 16001 had an average of 43 days on market in Oct 2024, down by 22.8% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 16001 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 25 homes were sold in 16001; 48% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

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