Farrell, PA 16121 Real Estate Market Report

ZIP Code: 16121
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code has limited residential inventory. Metrics are based on all available residential property types, so treat conclusions as directional rather than precise.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Farrell, PA, are averaging 6.30% to 6.50%, reflecting a market where rates have remained in the low-to-mid 6% range throughout the first half of 2026.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The primary market indicator, the median sold price of 91,200, signals recent transaction-level value for SFR/condo in Farrell and should be used ahead of asking prices when setting comps; up year-over-year price momentum supports listing strategies that reference recent closed sales.

2. There is a notable gap between the median listing price of 74,500 and the median sold price, which may indicate pricing friction or seller expectation mismatch and suggests caution when pricing new listings to avoid extended marketing periods.

3. Long time-to-sale is evident with a median days on market of 251, which points to slower sales velocity and may require targeted marketing or price adjustments to accelerate transactions; slower sales velocity typically increases the importance of accurate comps and condition-based pricing.

4. Financing and rental context: mortgage rates averaging 6.30% to 6.50% alongside an increasing rent trend and a median market rent of 750 imply elevated financing pressure on affordability and rising rental income potential; elevated interest rate pressure suggests buyers may be sensitive to price and financing terms.

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Notable Properties

The following 1 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.