Cranberry Township Homes For Sale

Cranberry Township Real Estate Market Insights

Nestled in the heart of the region, Cranberry Township is a magnet for prospective homeowners, thanks to its favorable market conditions and high-quality residences. If you're considering a move to or within the area, here are some noteworthy insights about the Cranberry Township housing market.

Competitive Landscape: The real estate scenario in Cranberry Township is moderately competitive. While some properties get snapped up quickly, especially those termed as "hot homes," on average, homes stay on the market for around 43 days. This is a slight increase from the previous year when homes were typically sold after 42 days.

Pricing Dynamics: 

• Median Sale Price: In the recent month, the median sale price for homes in Cranberry Township was $447,500, reflecting a minimal rise of 2.9% from last year.
• Price Per Square Foot: The median sale price per square foot stands at $192, marking a decrease of 7.0% year-over-year. This rise suggests that while the overall price growth is subdued, there's an increased valuation for space, possibly due to changing buyer preferences.

Sales Volume & Duration:

• Monthly Comparison: In July 2023, the number of homes sold totaled 128, a decrease from 159 sales in July of the preceding year.
• Days on Market: On average, homes in Cranberry Township are listed for 43 days before being sold. This is a bit longer than the 42 days observed last year.

Offer Dynamics:

• Multiple Offers: Certain properties in the township are in high demand and tend to receive multiple offers, which can drive up the final sale price.
• Sale-to-List Price Ratio: On average, homes in Cranberry Township sell close to their listing prices.
• Hot Homes: Properties classified as 'hot homes' are the ones garnering heightened interest. These homes tend to sell approximately 3% above the list price and, more often than not, go pending in as few as 23 days.

For prospective buyers and sellers, these insights can offer a preliminary understanding of the market dynamics in Cranberry Township. As always, it's essential to work with a local real estate expert who can provide a deeper dive into the nuances of this market and guide you in your property journey.