Strongest Second Quarter In 11 Years
ENOLA, PA (July 11, 2016) – The number of residential housing units sold in south central Pennsylvania increased 13.7 percent in the second quarter (April – June) of 2016. According to the Greater Harrisburg Association of REALTORS® Multiple Listing Service, 2,825 units were sold, up from 2,484 units sold in the second quarter of 2015.
“Home sales in the greater Harrisburg area continued to increase in the second quarter of 2016, for the strongest second-quarter in 11 years,” says Jodi Diego, president of the Greater Harrisburg Association of REALTORS®. “Across all counties and price ranges, we’re continuing to see that buyers aren’t waiting; they are ready and willing to purchase. Sellers who have a good product – a turn-key, move-in ready home – are finding it easy to sell.”
Median home sale prices increased slightly in the second quarter, up 1.8 percent from the second quarter of 2015. According to the GHAR MLS, the median sales price of residential homes was $172,000, up from $169,000 in the second quarter of 2015.
“Not only did the median home sales price increase in the second quarter of 2016, the average homes sales price increased, from $189,278 in the second quarter of 2015 to $197,838 in the second quarter of 2016,” says Diego. “This is the third straight year for increases in both average and median prices in the second quarter.”
Listings stayed on the market an average of 71 days – a decrease from an average of 87 days in the second quarter of 2015. The number of active listings at the end of the second quarter 2015 decreased to 3,967, compared to 4,785 active listings at the end of the second quarter of 2015.
In June alone, the GHAR MLS coverage area saw a 21.7 percent increase in units sold, from 905 in the second quarter of 2015 to 1,101 in the second quarter of 2016. The increase in units sold held true across all price ranges and all counties that the GHAR MLS tracks statistics for.
“The second quarter sales statistics, in addition to the June statistics, show many positive signs for the greater Harrisburg area real estate market,” says Karen Detwiler, broker of record for Help U Sell Detwiler Realty in Carlisle. “Not only did the number of sales increase, the average days on market has decreased, the median sales price increased, and the number of homes under contract at the end of the second quarter is the highest it’s been in eight years.”
About Greater Harrisburg Association of REALTORS®
The Greater Harrisburg Association of REALTORS®, established in 1916, represents 1,900 REALTORS® and provides leadership in adapting to advances in the industry. The Association is committed to promoting ethical and competent real estate practices and advocating the value of home ownership in Dauphin, Cumberland, and Perry counties.
Greater Harrisburg Association of REALTORS®
424 N. Enola Drive, Suite 1
Enola, PA 17025
(717) 364-3206 (fax)