Strongest Second Quarter In 12 Years
ENOLA, PA (July 11, 2016) – The number of residential housing units sold in south central Pennsylvania increased 5.1 percent in the second quarter (April – June) of 2017. According to the Greater Harrisburg Association of REALTORS® Multiple Listing Service, 2,970 units were sold, up from 2,825 units sold in the second quarter of 2016.
“Home sales in the greater Harrisburg area continued to increase in the second quarter of 2017, for the strongest second-quarter in 12 years,” says John Esser, president of the Greater Harrisburg Association of REALTORS®. “This builds on several trends we have been seeing for months now.
People still view homeownership as part of the American dream and they are making that decision to own rather than rent.
Median home sale prices increased in the second quarter, up 2.9 percent from the second quarter of 2016. According to the GHAR MLS, the median sales price of residential homes was $177,000, up from $172,000 in the second quarter of 2016.
“Not only did the median home sales price increase in the second quarter of 2016, the average homes sales price increased, from $197,838 in the second quarter of 2016 to $206,154 in the second quarter of 2017,” says Diego. “This is the fourth straight year for increases in both average and median prices in the second quarter.”
Listings stayed on the market an average of 68 days – a decrease from an average of 71 days in the second quarter of 2016. The number of active listings at the end of the second quarter 2017 decreased to 2,021, compared to 3,967 active listings at the end of the second quarter of 2016.
In June 2017, the GHAR MLS coverage area saw a 4.2 percent increase in units sold, from 1,101 in the June 2016 to 1,147 in the June 2017.
“The second quarter sales statistics, in addition to the June statistics, show many positive signs for the greater Harrisburg area real estate market,” says Matthew D. Madden, broker of record for Hooke, Hooke & Eckman, LLP in Carlisle. “Not only did the number of sales increase, but the average days on market has decreased and the median sales price and average sales price both have increased. Increasingly, homes that are move-in ready are seeing multiple offer situations and are moving quickly.”
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.