About Crafton, PA

Crafton, Pennsylvania: A Charming Suburb with a Rich Heritage

About Crafton

Crafton, a quaint borough in Allegheny County, Pennsylvania, is a hidden gem with a rich historical backdrop and a strong sense of community. Established in the late 19th century, this picturesque suburb of Pittsburgh is known for its tree-lined streets, Victorian architecture, and welcoming atmosphere. Spanning a modest area, Crafton is characterized by its small-town charm blended seamlessly with the conveniences of suburban living.

The borough’s close-knit community is comprised of a diverse mix of individuals and families who value strong community ties. Crafton’s proximity to downtown Pittsburgh, just about six miles to the east, makes it an appealing place for professionals, students, and families who wish to enjoy a quieter lifestyle while having easy access to the amenities of a larger city.

Real Estate Market and Trends

Crafton’s real estate market is notable for its beautiful historic homes, many of which date back to the late 19th and early 20th centuries. These homes, known for their spacious porches, intricate woodwork, and classic charm, are a significant draw for those who appreciate historic architecture. In recent years, the borough has seen a steady interest in home renovation and preservation, reflecting a community-wide commitment to maintaining its architectural heritage.

The housing market in Crafton is relatively affordable, especially when compared to other suburbs around Pittsburgh. This affordability makes Crafton an attractive option for first-time homebuyers and those seeking a character-filled home at a reasonable price. The borough has also experienced a gradual increase in property values, making real estate investment in the area a promising prospect.

Business

Crafton’s business landscape is predominantly composed of small, locally-owned businesses that contribute to its charming and close-knit community feel. The borough features a modest but vibrant commercial district, with family-owned shops, restaurants, and services. The community strongly supports these local businesses, which adds to the borough’s appeal.

Crafton’s proximity to major highways and Pittsburgh itself makes it an accessible location for businesses and residents who commute. While the borough maintains a small-town atmosphere, its convenient location near larger economic hubs means that residents have easy access to a wider range of employment opportunities.

Social Life

The social fabric of Crafton is one of its most appealing aspects. The borough hosts a variety of community events throughout the year, fostering a strong sense of belonging among residents. Events like the Crafton Celebrates festival, holiday parades, and community yard sales are just a few examples of occasions that bring the community together.

Crafton also boasts several beautiful parks and recreational facilities, including Crafton Park, which is a hub for community activities. These spaces provide residents with opportunities to engage in sports, enjoy playgrounds, and participate in outdoor events and gatherings.

Recreation

Recreation in Crafton is centered around its beautiful parks and community activities. The borough’s commitment to maintaining and improving its green spaces ensures that residents have ample opportunity to enjoy the outdoors. Walking trails, sports fields, and recreational programs cater to a wide range of interests and age groups.

The proximity to downtown Pittsburgh also means that residents can easily access the cultural, sporting, and entertainment options the city offers. Whether it’s attending a professional sports game, visiting a museum, or enjoying a concert, Crafton residents have the best of both worlds: a peaceful, community-oriented borough with the perks of city life just a short drive away.

In summary, Crafton, Pennsylvania, stands out as a borough rich in history, community spirit, and suburban charm. Its beautiful historic homes, strong sense of community, and convenient location make it an ideal place for those seeking a harmonious blend of historic charm and modern living. Whether you’re drawn to its architectural beauty, the friendly community, or the abundant recreational opportunities, Crafton offers a unique and fulfilling living experience.

The Real Estate Market in Crafton, PA

The State of the Real Estate Market in Crafton, PA

Crafton, Pennsylvania, a suburb known for its historical charm and close-knit community, has continued to demonstrate a dynamic real estate market through 2023. As of October, the market in Crafton is predominantly a seller’s market, characterized by conditions that generally favor sellers over buyers.

Market Overview: A Seller’s Domain

Crafton’s market has been categorized as a seller’s market. This status has been consistent since last year, indicating a market where demand outstrips supply, leading to higher prices and quicker sales. Homes in Crafton are selling fast, with many properties being snapped up soon after listing.

Housing Prices: Steady and Rising

The median sold price for homes in Crafton as of October 2023 is $215,250, showing a marginal increase of 0.1% from last year. This stability in pricing suggests a market that, while competitive, hasn’t experienced the rapid escalation seen in some other areas. The median price per square foot stands at $126, aligning with the overall pricing trends.

Breakdown by Bedroom Count

• 2 Bedroom homes saw a significant increase in value, jumping by 46.8% to $198K.
• Conversely, there was a decrease in the median sold prices of 3-bedroom (down 5.3% to $180K), 4-bedroom (down 8.9% to $241.4K), and 5+ bedroom homes (down 3.0% to $313K).

Comparison with Nearby Cities

• Crafton’s median sold price growth (0.1%) contrasts with nearby areas like Robinson Township and Ingram, which saw decreases of 1.8% and 11.9% respectively.

Housing Supply Dynamics

October 2023 witnessed a slight increase in the housing inventory, with a 6.3% rise to 17 homes for sale compared to September. This increase, however, has not significantly altered the seller’s market status.

Inventory Changes by Bedroom Type

• The most notable change was in 4-bedroom homes, which saw a 150% increase in listings.
• Inventories for 1-bedroom, 2-bedroom, and 5+ bedroom homes remained stable.
• The supply of 3-bedroom homes decreased by 25%.

Sales Trends and Timing

There were 5 homes sold in October 2023, a 25% increase from September. Of these, 40% sold below asking price, 20% at asking price, and 40% over asking price. This distribution suggests a balanced negotiation environment where both buyers and sellers can find opportunities.

Days on Market: Faster Sales

A remarkable decrease in the average sale time was observed, dropping by 75.5% from last year, with homes spending an average of just 13 days on the market in October 2023. All homes sold were on the market for under 30 days, indicating a fast-paced market.

Key Takeaways

1. Seller’s Market: Crafton remains a seller’s market, with conditions favoring those listing their homes.
2. Stable Prices: Median home prices have remained stable with a slight uptick, ensuring a steady market.
3. Rapid Sales: Homes are selling quickly, often within a month of listing.
4. Negotiation Space: Buyers still have room to negotiate, with a notable percentage of homes selling below asking price.

In summary, Crafton’s real estate market as of October 2023 is robust, favoring sellers but with opportunities for buyers, especially in certain home categories. The market is characterized by rapid sales and relatively stable prices, making it an attractive area for both real estate investments and homebuyers looking for a community with historical appeal and suburban tranquility.