How Has Our Local Market Changed Since 2016?

Central PA Real Estate Podcast with Dave Hooke

What’s been going on in the South Central Pennsylvania real estate market? Today, let’s take a look. To see where we are, I’d like to compare the current numbers to what we saw last year. It’s actually a great time to be a seller in our area. First of all, there were about 8,600 properties listed in our area between January and August of this year. Last year, that number was 9,200. That isn’t the only number that has changed. In that same period in 2017, 6,466 properties were sold, compared to 6,399 properties from January through August of last year. “It’s a great time to be a seller in our area.” This shows us that there’s been an increase in demand but also a decrease of supply. Also, the number of sold homes has increased to 75%, meaning there’s been a 7% increase in sales. Next comes my favorite statistic of those I’ve listed so far. Last year, the average sale price was $191,000, but this year it has increased to $201,000. However, the average days on market has declined. Now, the average is 72 days in South Central Pennsylvania. As a final note, the number of expired listings has decreased by 10%. If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.