$2,374 Closing Credit*
$199,900
1,100 SqFt
3 Beds
•1 Full Bath, 1 Partial
Matthew A, Smith, Listing Office: HomeSmart Realty Advisors
Is West 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
Since last year, West Oak Lane has remained a Neutral Market.
Key Takeaway
West 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 West Oak Lane, PA
How much do homes in West Oak Lane, PA cost?
Median Sold Price
$226,000
$156/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$11,000(+5.1%)
Key Takeaway
Homes in West Oak Lane have sold for 5.1% more than they did a year ago.
Summary: The median home sold price in West Oak Lane was $226,000 in October 2024, up 5.1% from last year, and the median price per square foot was $156.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $225K | - | N/A |
| 2 Bedrooms | $169.2K | $158.3K | -6.5% |
| 3 Bedrooms | $200K | $214K | +7.0% |
| 4 Bedrooms | $275.5K | $268.4K | -2.6% |
| 5+ Bedrooms | $299.9K | $330K | +10.0% |
Summary: West 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 decreased by 6.5%, 3 bedroom homes increased by 7%, 4 bedroom homes decreased by 2.6%, and 5+ bedroom homes increased by 10%.
Median Sold Price Compared To Nearby Neighborhoods
| Elkins Park | $360K | $390K | +8.3% |
| Olney / Oak Lane | $185K | $200K | +8.1% |
| East Oak Lane | $240K | $257.5K | +7.3% |
| Cedarbrook | $250K | $264.9K | +6.0% |
| West Oak Lane | $215K | $226K | +5.1% |
Housing Supply in West Oak Lane, PA
How many homes are available in West Oak Lane, PA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 92 | 90 | -2.2% |
Summary: The West Oak Lane real estate market had 90 homes for sale in October 2024, a 2.2% decrease 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 | 4 | 4 | 0.0% |
| 3 Bedrooms | 72 | 65 | -9.7% |
| 4 Bedrooms | 16 | 20 | +25.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The West 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 remained the same, 3 bedroom homes decreased by 9.7%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 21 | 15 | -28.6% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Oak Lane, expect to pay close to the asking price. 46.7% of homes here sold near the asking price last month.
Summary: A total of 15 homes were sold or pending in West Oak Lane in October 2024, down by 28.6% month-over-month. Of the 15 sold homes, 40% were sold under asking, 47% were sold at asking, and 13% were sold over asking.
Days on Market for West Oak Lane, PA
How long does it take to sell a home in West Oak Lane, PA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 41 Days | 46 Days | +13.6% |
Summary: Homes in West Oak Lane had an average of 46 days on market in Oct 2024, up by 13.6% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in West Oak Lane are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 15 homes were sold in West Oak Lane; 47% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
