Is 16057, PA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 16057 is a neutral's market

Buyer's
Market

Difference Since December 2023

At the same time last year, 16057 was a Seller's Market.

Key Takeaway

16057 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 16057, PA

How much do homes in 16057, PA cost?

Median Sold Price

$263,000

$164/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$33,000(+14.3%)

Key Takeaway

Homes in 16057 have sold for 14.3% more than they did a year ago.

Summary: The median home sold price in 16057 was $263,000 in December 2024, up 14.3% from last year, and the median price per square foot was $164.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 -$118K
N/A
2 $175K$176K
+0.6%
3 $250K$274K
+9.6%
4 $322.5K$295K
-8.5%
5+ $495K$495K
0.0%

Summary: 16057 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 0.6%, 3 bedroom homes increased by 9.6%, 4 bedroom homes decreased by 8.5%, and 5+ bedroom homes did not change.

Housing Supply in 16057, PA

How many homes are available in 16057, PA?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
2220-9.1%

Summary: The 16057 real estate market had 20 homes for sale in December 2024, a 9.1% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 00
0.0%
2 33
0.0%
3 1211
-8.3%
4 65
-16.7%
5+ 11
0.0%

Summary: The 16057 housing inventory by bedroom type for December 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 8.3%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
330.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 16057, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in 16057 in December 2024, the same as the previous month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.

Days on Market for 16057, PA

How long does it take to sell a home in 16057, PA?

Average Sale Time

Dec 2023Dec 2024CHANGE
59 Days26 Days-55.4%

Summary: Homes in 16057 had an average of 26 days on market in Dec 2024, down by 55.4% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 16057 are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 3 homes were sold in 16057; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% 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 2 Days Ago

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