Irwin, PA 15642 Real Estate Market Report

ZIP Code: 15642
Report Date: April 2026
Market Temperature: COLD
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The real estate market in Irwin, PA is currently characterized by a median sold price of $255,000, indicating a notable shift in market dynamics. The neighborhood has decreased 8% since 2022, reflecting a cooling trend in buyer interest and overall market activity. With homes taking an average of 191 days on market, this extended duration suggests a slower sales velocity, which may be attributed to elevated interest rates that continue to pressure buyer affordability.

In this context, the median listing price stands at $290,000, creating a pricing gap that may indicate seller expectations are not aligning with current market realities. The market temperature is classified as cold, further emphasizing the challenges sellers face in achieving favorable sales outcomes. Elevated inventory levels relative to sales activity suggest a shift towards a more balanced market, albeit with signs of excess supply that could continue to impact pricing and liquidity moving forward.

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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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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 Cold market indicates weak buyer demand relative to available inventory, typically characterized by declining or flat prices, extended days on market, and elevated inventory levels relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Irwin, PA are averaging 6.46% compared to the 2026 average of 5.56%, indicating property owners may have secured a favorable rate.

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 median sold price of $255,000 indicates a significant price adjustment in the market, reflecting a decrease of 8% since 2022.

2. Homes are experiencing a lengthy median days on market of 191, suggesting a slower sales velocity and potential buyer hesitance.

3. The median listing price of $290,000 creates a notable gap with sold prices, indicating possible pricing friction in the market.

4. Rental demand is softening, with median market rent reported at $1,515, reflecting a down trend year-over-year.

5. Elevated interest rate pressure, with current mortgage rates averaging 6.46%, continues to challenge buyer affordability and may contribute to the cold market temperature.

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Notable Properties

The following 8 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.