Is Lower Burrell, PA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lower Burrell is a neutral's market

Buyer's
Market

Difference Since September 2023

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

Key Takeaway

Lower Burrell 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 Lower Burrell, PA

How much do homes in Lower Burrell, PA cost?

Median Sold Price

$198,250

$172/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$10,750(+5.7%)

Key Takeaway

Homes in Lower Burrell have sold for 5.7% more than they did a year ago.

Summary: The median home sold price in Lower Burrell was $198,250 in September 2024, up 5.7% from last year, and the median price per square foot was $172.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $79.9K$138K
+72.7%
2 $160K$169.9K
+6.2%
3 $188.7K$200K
+6.0%
4 $250K$274K
+9.6%
5+ $262.5K$622.5K
+137.1%

Summary: Lower Burrell housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 72.7%, 2 bedroom homes increased by 6.2%, 3 bedroom homes increased by 6%, 4 bedroom homes increased by 9.6%, and 5+ bedroom homes increased by 137.1%.

Median Sold Price Compared To Nearby Cities

Tarentum
+8.0%
Lower Burrell
+5.7%
New Kensington
+2.7%

Housing Supply in Lower Burrell, PA

How many homes are available in Lower Burrell, PA?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
4442-4.5%

Summary: The Lower Burrell real estate market had 42 homes for sale in September 2024, a 4.5% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 10
-100.0%
2 910
+11.1%
3 2623
-11.5%
4 89
+12.5%
5+ 00
0.0%

Summary: The Lower Burrell housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 11.1%, 3 bedroom homes decreased by 11.5%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
127-41.7%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lower Burrell, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.

Summary: A total of 7 homes were sold or pending in Lower Burrell in September 2024, down by 41.7% month-over-month. Of the 7 sold homes, 43% were sold under asking, 0% were sold at asking, and 57% were sold over asking.

Days on Market for Lower Burrell, PA

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

Average Sale Time

Sep 2023Sep 2024CHANGE
35 Days32 Days-9.3%

Summary: Homes in Lower Burrell had an average of 32 days on market in Sep 2024, down by 9.3% 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

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 7 homes were sold in Lower Burrell; 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.

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

Report Updated 30 Days Ago

Newest Listings in Lower Burrell, PA

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What housing markets are near Lower Burrell, PA?