$1,887 Closing Credit*
$158,900
3 Beds
•2 Full Baths
Gary Pish, Listing Office: Howard Hanna Real Estate Services
Is Lower Burrell, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller'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
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $79.9K | $138K | +72.7% |
| 2 Bedrooms | $160K | $169.9K | +6.2% |
| 3 Bedrooms | $188.7K | $200K | +6.0% |
| 4 Bedrooms | $250K | $274K | +9.6% |
| 5+ Bedrooms | $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 | $144.9K | $156.5K | +8.0% |
| Lower Burrell | $187.5K | $198.2K | +5.7% |
| New Kensington | $165K | $169.5K | +2.7% |
Housing Supply in Lower Burrell, PA
How many homes are available in Lower Burrell, PA?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 44 | 42 | -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
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 9 | 10 | +11.1% |
| 3 Bedrooms | 26 | 23 | -11.5% |
| 4 Bedrooms | 8 | 9 | +12.5% |
| 5+ Bedrooms | 0 | 0 | 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 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 12 | 7 | -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
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 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 35 Days | 32 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
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.
