August 2019 Housing Market Update

Mortgage rates are down 1% from last year which has made sales swing upward.

Median sales price increased from the year-ago quarter to $199,500 while the average sale price also increased to $224,186 from $209,726 (August 2018). The average days on market decreased from 42 (August 2018) to only 39 days (2019). 

Listing inventory fell 22% to 1,711 pushing the market rate faster. The fall in supply made the months of supply, the number of months to sell all listing inventory at the current rate of sales, moving 25% faster to 2.4 months. The number of sales for Cumberland, Dauphin and Perry counties increased to 720 from 684 (August 2018).