The number of sales for November was down due to the lack of inventory in the Cumberland, Dauphin, and Perry counties. While the total median sales price increased, there was a significant drop in the median cumulative days on the market due to the shortage of listing inventory. Total Greater Harrisburg Area units sold decreased from 587 sold in November 2018 to 539 in November 2019. 

The average sales price for Cumberland county was $242,930 in November 2019 which was an increase of 8.5% from November 2018, while the median sales price decreased from $205,000 in 2018 to $197,000 in 2019. Total listing inventory in Cumberland County was down 15% from November 2018 to a total of 723 homes, 2019. 

The average sales price in Dauphin county was $191,835, November 2019 which was an increase of 8.6% from November 2018. The median sales price increased from $156,000 in 2018 to $165,000 for November 2019. Total listing inventory was down by 15% from 933 in November 2018 to 792, 2019. 

The average sales price in Perry county was $194,121 which was a 1% increase from the November 2018 average sales price of $192,129. Meanwhile, the median sales price decreased by 0.5% to $188,000 in 2019. Total listing inventory decreased from November 2018 by 20% from 121 homes to 96 homes on the market. 

*Information gathered from GHAR market stats

October sales continued to rise while listing inventory continued to fall.

Median sales price increased from $178,000, 2018 by 8.1% to $192,500, 2019 while the average sale price increased from $206,469, 2018 by 7.1% to $221,034, 2019.

Units sold increased from 611 to 663 and average days on market stayed consistent at 47 days. There was a significant drop in cumulative days on the market due to the listing inventory shortage.

Although the listing inventory declined by 10% from 2018 the number of sales increased by 8.5% in the same year period. 

*Information gathered from GHAR Market Stats

The number of sales in the Greater Harrisburg area jumped 18.1% to 607 from the year-ago quarter as listing inventory drifted 10% lower to 1,855 over the same period.

The sharp drop in mortgage rates over the past year has created additional demand. The pace of the market, the number of months to sell all listing inventory at the current rate of sales, moved 22.5% faster to 3.1 months from the year-ago quarter.

The average days on market decreased from 48 to 44 while units sold increased from 584 units in 2018 to 644 units.

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).  

Based on the July market statistics from the Greater Harrisburg Association of Realtors, housing inventory is low. This means if you have been thinking about selling your home, this is a great time! Homes are listed on the market for less amount of time and selling for higher prices. This is great news! Don’t be discouraged if you are a buyer, there are still homes to buy! Just know that you may be competing, and if you like a home don’t wait to make an offer! 

The average days on market decreased from 43 (July 2018) to 42 (July 2019).

Listing inventory in the Central PA market for July 2019 fell from 7.7% (July 2018) to 3.3% (July 2019).  

Units sold in July 2019 was down from 752 to 694 homes. While the median sales price increased from $187,250 to $190,000, the average sales price increased from $212,542 to $221,372.