Is Centre County, PA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Centre County is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Centre County has remained a Seller's Market.

Key Takeaway

Centre County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Centre County, PA

How much do homes in Centre County, PA cost?

Median Sold Price

$350,000

$186/sqft

Based on all homes sold in the last 12 months.

The Median Sold Price hasn't changed since October 2023.

Key Takeaway

The sold price of homes in Centre County has remained the same since last year.

Summary: The median home sold price in Centre County was $350,000 in October 2024, the same as last year, and the median price per square foot was $186.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $198K$207.5K
+4.8%
2 $244.5K$229.9K
-6.0%
3 $325.7K$326.1K
0.1%
4 $447.6K$451K
+0.7%
5+ $599.9K$577.5K
-3.7%

Summary: Centre County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.8%, 2 bedroom homes decreased by 6%, 3 bedroom homes increased by 0.1%, 4 bedroom homes increased by 0.7%, and 5+ bedroom homes decreased by 3.7%.

Median Sold Price Compared To Nearby Counties

Centre County
0.0%
Mifflin County
-2.4%
Clinton County
-2.9%

Housing Supply in Centre County, PA

How many homes are available in Centre County, PA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
393373-5.1%

Summary: The Centre County real estate market had 373 homes for sale in October 2024, a 5.1% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 44
0.0%
2 4145
+9.8%
3 187178
-4.8%
4 125108
-13.6%
5+ 3638
+5.6%

Summary: The Centre County 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 9.8%, 3 bedroom homes decreased by 4.8%, 4 bedroom homes decreased by 13.6%, and 5+ bedroom homes increased by 5.6%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
8188+8.6%

Asking Price vs. Sold Price

48 Homes Were Sold
Under Asking

21 Homes Were Sold
At Asking

19 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Centre County, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.

Summary: A total of 88 homes were sold or pending in Centre County in October 2024, up by 8.6% month-over-month. Of the 88 sold homes, 55% were sold under asking, 24% were sold at asking, and 22% were sold over asking.

Days on Market for Centre County, PA

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

Average Sale Time

Oct 2023Oct 2024CHANGE
29 Days42 Days+45.7%

Summary: Homes in Centre County had an average of 42 days on market in Oct 2024, up by 45.7% compared to last year.

Breakdown of Home Sale Times

57 Homes Were Sold
Under 30 Days

21 Homes Were Sold
In 30 - 90 Days

10 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 88 homes were sold in Centre County; 65% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 11% 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 20 Days Ago

Newest Listings in Centre County, PA

Nearby Markets to Centre County, PA

What housing markets are near Centre County, PA?