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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Mercer County is a buyer's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

Mercer County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Mercer County, PA

How much do homes in Mercer County, PA cost?

Median Sold Price

$162,800

$128/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$13,200(+8.8%)

Key Takeaway

Homes in Mercer County have sold for 8.8% more than they did a year ago.

Summary: The median home sold price in Mercer County was $162,800 in November 2024, up 8.8% from last year, and the median price per square foot was $128.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $51.5K$81K
+57.3%
2 $111.5K$115K
+3.1%
3 $148.2K$171.4K
+15.6%
4 $182K$190K
+4.4%
5+ $350K$305K
-12.9%

Summary: Mercer County housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 57.3%, 2 bedroom homes increased by 3.1%, 3 bedroom homes increased by 15.6%, 4 bedroom homes increased by 4.4%, and 5+ bedroom homes decreased by 12.9%.

Median Sold Price Compared To Nearby Counties

Mercer County
+8.8%
Butler County
+8.0%
Trumbull County
+7.0%

Housing Supply in Mercer County, PA

How many homes are available in Mercer County, PA?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
361345-4.4%

Summary: The Mercer County real estate market had 345 homes for sale in November 2024, a 4.4% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 12
+100.0%
2 6765
-3.0%
3 201203
+1.0%
4 7257
-20.8%
5+ 2018
-10.0%

Summary: The Mercer County housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 3%, 3 bedroom homes increased by 1%, 4 bedroom homes decreased by 20.8%, and 5+ bedroom homes decreased by 10%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
6549-24.6%

Asking Price vs. Sold Price

30 Homes Were Sold
Under Asking

11 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Mercer County, you may be able to get a good deal. 61.2% of homes here sold below asking price last month.

Summary: A total of 49 homes were sold or pending in Mercer County in November 2024, down by 24.6% month-over-month. Of the 49 sold homes, 61% were sold under asking, 22% were sold at asking, and 16% were sold over asking.

Days on Market for Mercer County, PA

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

Average Sale Time

Nov 2023Nov 2024CHANGE
54 Days48 Days-10.1%

Summary: Homes in Mercer County had an average of 48 days on market in Nov 2024, down by 10.1% compared to last year.

Breakdown of Home Sale Times

21 Homes Were Sold
Under 30 Days

23 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Mercer County has remained consistent over time.

Summary: During November 2024, 49 homes were sold in Mercer County; 43% of homes were sold within 30 days, 47% of homes were sold within 30 to 90 days, and 10% 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 Mercer County, PA

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