Is Mercer, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Mercer was a Seller's Market.
Housing Prices in Mercer, PA
How much do homes in Mercer, PA cost?
Median Sold Price
$195,000
$113/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Mercer was $195,000 in May 2024, down 2.5% from last year, and the median price per square foot was $113.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $130K | - | N/A |
2 Bedrooms | $164.5K | $137.5K | -16.4% |
3 Bedrooms | $249.9K | $209K | -16.4% |
4 Bedrooms | $144.5K | $291K | +101.3% |
5+ Bedrooms | $202.5K | $364.2K | +79.9% |
Summary: Mercer housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 16.4%, 3 bedroom homes decreased by 16.4%, 4 bedroom homes increased by 101.3%, and 5+ bedroom homes increased by 79.9%.
Housing Supply in Mercer, PA
How many homes are available in Mercer, PA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
29 | 38 | +31.0% |
Summary: The Mercer real estate market had 38 homes for sale in May 2024, a 31.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 4 | 4 | 0.0% |
3 Bedrooms | 16 | 21 | +31.3% |
4 Bedrooms | 4 | 7 | +75.0% |
5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Mercer housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 31.3%, 4 bedroom homes increased by 75%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
5 | 4 | -20.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Mercer in May 2024, down by 20.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.
Days on Market for Mercer, PA
How long does it take to sell a home in Mercer, PA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
11 Days | 74 Days | +539.5% |
Summary: Homes in Mercer had an average of 74 days on market in May 2024, up by 539.5% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 4 homes were sold in Mercer; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.