Just a small town girl, livin’ in a lonely world. She took the midnight train going anywhere…and wound up at a realtor’s office in PA! 💁🏻♀️🏘️ And wouldn’t you know, they had some good news to share!
A recent report shows the housing market in PA is on the improvement train. How long will the ride last? We’re hoping it’s a long haul journey! 🤞🚉
Here’s Five Fast Facts on PA’s housing market:
- 📊 Positive Outlook - The Pennsylvania Association of Realtors (PAR) just dropped a brand new report on the Keystone State’s housing market. According to the data, median home sales prices declined and inventory increased. Hip hip hooray!
- 🏡 Ups and Downs - Median residential property sales prices fell 3% from August to $295,000. However, median home prices are up 9% from what they were in September of last year. Not great, but we’ll take any price drops we can get.
- 🙆 The Bigger Picture - How does PA compare to the rest of the USA? Overall, home sales in September fell by roughly 1% from August and 3.5% from a year ago. Nationwide, the median home price is $404,500, up 3% from last year.
- 📈 Taking Inventory - As far as inventory goes, the number of active home listings jumped by 3% compared to August. In September, there were close to 38,800 listings, up over 28% from January. September’s inventory numbers were the highest they’ve been compared to the entire 2023!
- 🛑 Not Buyin’ It - Even with these signs of improvement, home sales are still on the decline. In September, PA home sales dipped to 9,538, a 6.5% decrease from what they were this time last year. However, experts say the rise in inventory should help more home buyers get into their dream houses.
🔥Bottom line: If you’ve been dying to get out of your mom’s basement, things are looking more and more in your favor! Speaking of buying stuff, should you buy a Boomer’s old business? Boomer biz owners are looking for buyers to take their companies off their hands, but is it right for you? We break it all down in this article.
Are you house hunting in PA?
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