Is Penn Forest Township, 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, Penn Forest Township was a Seller's Market.
Key Takeaway
Penn Forest Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Penn Forest Township, PA
How much do homes in Penn Forest Township, PA cost?
Median Sold Price
$314,000
$204/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Penn Forest Township have sold for 5.7% more than they did a year ago.
Summary: The median home sold price in Penn Forest Township was $314,000 in May 2024, up 5.7% from last year, and the median price per square foot was $204.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $214.7K | $202.7K | -5.6% |
| 3 Bedrooms | $285K | $300K | +5.3% |
| 4 Bedrooms | $405K | $384.9K | -5.0% |
| 5+ Bedrooms | $386K | $409K | +6.0% |
Summary: Penn Forest Township 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 5.6%, 3 bedroom homes increased by 5.3%, 4 bedroom homes decreased by 5%, and 5+ bedroom homes increased by 6%.
Median Sold Price Compared To Nearby Cities
| Penn Forest Township | $297K | $314K | +5.7% |
| Tunkhannock Township | $275K | $289.9K | +5.4% |
| Kidder Township | $390K | $391.9K | 0.5% |
| Blakeslee | $275K | $272K | -1.1% |
| Albrightsville | $299.4K | $294.9K | -1.5% |
Housing Supply in Penn Forest Township, PA
How many homes are available in Penn Forest Township, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 89 | 99 | +11.2% |
Summary: The Penn Forest Township real estate market had 99 homes for sale in May 2024, a 11.2% 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 | 7 | 8 | +14.3% |
| 3 Bedrooms | 48 | 60 | +25.0% |
| 4 Bedrooms | 24 | 22 | -8.3% |
| 5+ Bedrooms | 10 | 9 | -10.0% |
Summary: The Penn Forest Township 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 14.3%, 3 bedroom homes increased by 25%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes decreased by 10%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 13 | 12 | -7.7% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Penn Forest Township, you may be able to get a good deal. 58.3% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Penn Forest Township in May 2024, down by 7.7% month-over-month. Of the 12 sold homes, 58% were sold under asking, 25% were sold at asking, and 17% were sold over asking.
Days on Market for Penn Forest Township, PA
How long does it take to sell a home in Penn Forest Township, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 26 Days | 40 Days | +55.1% |
Summary: Homes in Penn Forest Township had an average of 40 days on market in May 2024, up by 55.1% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Penn Forest Township has remained consistent over time.
Summary: During May 2024, 12 homes were sold in Penn Forest Township; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
