Is Mercersburg, 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, Mercersburg has remained a Seller's Market.
Key Takeaway
Mercersburg is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mercersburg, PA
How much do homes in Mercersburg, PA cost?
Median Sold Price
$270,000
$153/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Mercersburg have sold for 8% more than they did a year ago.
Summary: The median home sold price in Mercersburg was $270,000 in May 2024, up 8% from last year, and the median price per square foot was $153.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $81.1K | $82.5K | +1.7% |
| 2 Bedrooms | $180K | $245K | +36.1% |
| 3 Bedrooms | $257.5K | $254K | -1.4% |
| 4 Bedrooms | $277.4K | $430K | +55.0% |
| 5+ Bedrooms | $349.5K | $289.9K | -17.1% |
Summary: Mercersburg housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.7%, 2 bedroom homes increased by 36.1%, 3 bedroom homes decreased by 1.4%, 4 bedroom homes increased by 55%, and 5+ bedroom homes decreased by 17.1%.
Median Sold Price Compared To Nearby Cities
| Montgomery Township | $250K | $310K | +24.0% |
| Peters Township | $210K | $235.8K | +12.3% |
| Mercersburg | $249.9K | $270K | +8.0% |
Housing Supply in Mercersburg, PA
How many homes are available in Mercersburg, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 22 | 27 | +22.7% |
Summary: The Mercersburg real estate market had 27 homes for sale in May 2024, a 22.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 4 | +100.0% |
| 3 Bedrooms | 13 | 14 | +7.7% |
| 4 Bedrooms | 5 | 6 | +20.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Mercersburg 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 increased by 100%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 6 | +200.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mercersburg, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Mercersburg in May 2024, up by 200.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Mercersburg, PA
How long does it take to sell a home in Mercersburg, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 24 Days | 12 Days | -47.4% |
Summary: Homes in Mercersburg had an average of 12 days on market in May 2024, down by 47.4% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mercersburg are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 6 homes were sold in Mercersburg; 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.
