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 October 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

$255,000

$164/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$25,000(+10.9%)

Key Takeaway

Homes in 16057 have sold for 10.9% more than they did a year ago.

Summary: The median home sold price in 16057 was $255,000 in October 2024, up 10.9% from last year, and the median price per square foot was $164.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$118K
N/A
2 $155K$188K
+21.3%
3 $250K$261K
+4.4%
4 $310K$425K
+37.1%
5+ $285K$495K
+73.7%

Summary: 16057 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 21.3%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 37.1%, and 5+ bedroom homes increased by 73.7%.

Housing Supply in 16057, PA

How many homes are available in 16057, PA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2627+3.8%

Summary: The 16057 real estate market had 27 homes for sale in October 2024, a 3.8% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 54
-20.0%
3 1214
+16.7%
4 78
+14.3%
5+ 21
-50.0%

Summary: The 16057 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 decreased by 20%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
74-42.9%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were 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. 100% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in 16057 in October 2024, down by 42.9% month-over-month. Of the 4 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% 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

Oct 2023Oct 2024CHANGE
52 Days64 Days+23.1%

Summary: Homes in 16057 had an average of 64 days on market in Oct 2024, up by 23.1% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 16057 has remained consistent over time.

Summary: During October 2024, 4 homes were sold in 16057; 25% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 25% 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

Newest Listings in 16057, PA

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