Clarks Summit, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Clarks Summit Neighborhoods Since 2000




Clarks Summit, PA Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Clarks Summit Housing Market Information

With 4,950 people, 2,347 houses or apartments, and a median cost of homes of $185,913, Clarks Summit real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Clarks Summit, accounting for 80.99% of the borough's housing units. Other types of housing that are prevalent in Clarks Summit include duplexes, homes converted to apartments or other small apartment buildings ( 10.82%), large apartment complexes or high rise apartments ( 4.44%), and a few row houses and other attached homes ( 3.75%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Clarks Summit. Owner-occupied housing accounts for 76.63% of Clarks Summit's homes, and 71.47% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Clarks Summit's housing was primarily built during this period, from the '40s through the '60s. A full 34.67% of the borough's housing hails from this era. Other housing ages represented in Clarks Summit include homes built between 1970-1999 ( 30.95%) and housing constructed before 1939 ( 24.17%). There's also some housing in Clarks Summit built between 2000 and later ( 10.21%).

Clarks Summit Home Appreciation Rates

Real estate appreciation rates in Clarks Summit's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.71% during the period.

NeighborhoodScout's data show that during the latest twelve months, Clarks Summit's appreciation rate, at 3.76%, has been at or slightly above the national average. In the latest quarter, Clarks Summit's appreciation rate has been 2.13%, which annualizes to a rate of 8.80%.

Importantly, this makes Clarks Summit one of the highest appreciating communities in the nation for the latest quarter, and may signal the borough's near-future real estate investment strength.

Relative to Pennsylvania, our data show that Clarks Summit's latest annual appreciation rate is higher than 70% of the other cities and towns in Pennsylvania.

Average Home Values

 

Median Home Value:
$185,913

Clarks Summit, PA HOME PRICES

Value Range
> $1,029,000 0.0
$772,001 - $1,029,000 0.0
$514,001 - $772,000 0.8
$412,001 - $514,000 2.1
$309,001 - $412,000 6.6
$206,001 - $309,000 30.8
$103,001 - $206,000 57.4
$51,001 - $103,000 1.2
$0 - $51,000 1.1

High for PA
High for Nation

Value Relative to Nation Value Relative to State
36.0951599671862 24.3478260869565

Number Of Homes And Apartments:
2,347

Clarks Summit Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
PA*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
29.61% 1.51% 2 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,165 / per month

Homeownership Rate

Homeownership
Owners 76.63
Renters 23.37
Vacant 5.29

Housing Market Details

 

Age of Homes

AGE OF Clarks Summit HOMES
2000 or Newer 10.2
1970 - 1999 31.0
1940 - 1969 34.7
1939 or Older 24.2

Types of Homes

TYPE OF Clarks Summit HOMES
Single-Family 81.0
Townhomes 3.8
Small Apt. Buildings 10.8
Apt. Complexes 4.4
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Clarks Summit HOMES
No Bedroom 0.00
1 Bedroom 10.13
2 Bedrooms 15.38
3 Bedrooms 47.30
4 Bedrooms 24.17
5 or more bedrooms 3.03

Popular Neighborhoods in Clarks Summit

Zip Codes in Clarks Summit, PA