August 2021 Market Update

The bidding wars that had been occurring for several months all around the country began to slow down in August. Though the demand for homes is still strong, the market began to cool down as fall approached and the school year started back up. According to Redfin, 58.8% of offers written resulted in a bidding war, which was down from the peak in April of 74.3%. The average days on market was still at an all-time low at only 17 days on the market. New listings in the Greater Harrisburg Area increased slightly from July to 868 new listings on the market and active listings in August also increased slightly from the previous months to 718 active listings. Units sold increased to 810 units, which although was an increase from the previous month it was a 4% decrease from 2020 in Cumberland and Perry counties. The average sales price for August was $267,368 which was a $23,000 increase from August 2020. The median sales price also increased slightly to $235,000, another $20,000 increase from August of 2020. Both the average sales price and median sales price increased by about $2,000 from the July.  

If you’ve been thinking about selling your home, it is still a great time to sell! Click here to see what your home could be worth or reach out to us!