$2,969 Closing Credit*
$250,000
1,092 SqFt
3 Beds
•1 Full Bath
Ariel Vargas, Listing Office: Vanguard Realty Associates
Is Olney / Oak Lane, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Olney / Oak Lane was a Seller's Market.
Key Takeaway
Olney / Oak Lane 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 Olney / Oak Lane, PA
How much do homes in Olney / Oak Lane, PA cost?
Median Sold Price
$200,000
$147/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$15,000(+8.1%)
Key Takeaway
Homes in Olney / Oak Lane have sold for 8.1% more than they did a year ago.
Summary: The median home sold price in Olney / Oak Lane was $200,000 in October 2024, up 8.1% from last year, and the median price per square foot was $147.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $225K | - | N/A |
| 2 Bedrooms | $126K | $140K | +11.1% |
| 3 Bedrooms | $181.5K | $193.3K | +6.5% |
| 4 Bedrooms | $235K | $241K | +2.6% |
| 5+ Bedrooms | $277.5K | $297.5K | +7.2% |
Summary: Olney / Oak Lane 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 11.1%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes increased by 7.2%.
Median Sold Price Compared To Nearby Neighborhoods
| Ogontz | $160K | $176.5K | +10.3% |
| Olney / Oak Lane | $185K | $200K | +8.1% |
| East Oak Lane | $240K | $257.5K | +7.3% |
| Fern Rock | $185K | $187.2K | +1.2% |
Housing Supply in Olney / Oak Lane, PA
How many homes are available in Olney / Oak Lane, PA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 464 | 470 | +1.3% |
Summary: The Olney / Oak Lane real estate market had 470 homes for sale in October 2024, a 1.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 17 | 20 | +17.6% |
| 3 Bedrooms | 354 | 352 | -0.6% |
| 4 Bedrooms | 77 | 82 | +6.5% |
| 5+ Bedrooms | 16 | 15 | -6.3% |
Summary: The Olney / Oak Lane housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 17.6%, 3 bedroom homes decreased by 0.6%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes decreased by 6.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 113 | 70 | -38.1% |
Asking Price vs. Sold Price
34 Homes Were Sold
Under Asking
20 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Olney / Oak Lane, you may be able to get a good deal. 48.6% of homes here sold below asking price last month.
Summary: A total of 70 homes were sold or pending in Olney / Oak Lane in October 2024, down by 38.1% month-over-month. Of the 70 sold homes, 49% were sold under asking, 29% were sold at asking, and 23% were sold over asking.
Days on Market for Olney / Oak Lane, PA
How long does it take to sell a home in Olney / Oak Lane, PA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 46 Days | 38 Days | -16.5% |
Summary: Homes in Olney / Oak Lane had an average of 38 days on market in Oct 2024, down by 16.5% compared to last year.
Breakdown of Home Sale Times
46 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Olney / Oak Lane are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 70 homes were sold in Olney / Oak Lane; 66% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
