Is Castle Shannon, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Castle Shannon has remained a Seller's Market.
Key Takeaway
Castle Shannon is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Castle Shannon, PA
How much do homes in Castle Shannon, PA cost?
Median Sold Price
$195,000
$162/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Castle Shannon have sold for 5.4% more than they did a year ago.
Summary: The median home sold price in Castle Shannon was $195,000 in May 2024, up 5.4% from last year, and the median price per square foot was $162.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $67.5K | $84K | +24.4% |
| 2 Bedrooms | $170K | $162.5K | -4.4% |
| 3 Bedrooms | $191K | $205.7K | +7.7% |
| 4 Bedrooms | $215K | $270K | +25.6% |
| 5+ Bedrooms | - | $302K | N/A |
Summary: Castle Shannon housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 24.4%, 2 bedroom homes decreased by 4.4%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 25.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Whitehall | $270K | $290.6K | +7.7% |
| Bethel Park | $264.6K | $279.9K | +5.8% |
| Castle Shannon | $185K | $195K | +5.4% |
| Mount Lebanon Township | $365K | $383.3K | +5.0% |
| Baldwin Township | $188K | $190.2K | +1.2% |
Housing Supply in Castle Shannon, PA
How many homes are available in Castle Shannon, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 25 | 25 | 0.0% |
Summary: The Castle Shannon real estate market had 25 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 6 | 0.0% |
| 3 Bedrooms | 18 | 17 | -5.6% |
| 4 Bedrooms | 1 | 2 | +100.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Castle Shannon 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 decreased by 5.6%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 12 | +140.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Castle Shannon, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in Castle Shannon in May 2024, up by 140.0% month-over-month. Of the 12 sold homes, 17% were sold under asking, 8% were sold at asking, and 75% were sold over asking.
Days on Market for Castle Shannon, PA
How long does it take to sell a home in Castle Shannon, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 17 Days | 11 Days | -30.8% |
Summary: Homes in Castle Shannon had an average of 11 days on market in May 2024, down by 30.8% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Castle Shannon are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 12 homes were sold in Castle Shannon; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
