The demand for new homes is at a record high, but the inventory of new homes available is at a record low. A new poll done by Fannie Mae finds that only 25% of homebuyers think it’s a good time to buy a home, while 69% are convinced it’s a good time to sell. Experts are predicting that although still on the lower end, mortgage rates will rise this year. Combined with the increasing home prices, this may drive some of the buyers out of the market. The average days on market in January were consistent with the end of last year at 20 days on market. New listings in Cumberland, Dauphin, and Perry counties in January increased slightly from December to 555 listings. Even with an increase in new listings, active listings decreased from the previous month to 467 total active listings. Total units sold decreased by over 250 units from December to 499 total units sold in the Greater Harrisburg Area in January. The number of homes sold in Dauphin county increased by 1.7% from January 2021, meanwhile the number of homes sold in Cumberland county decreased by almost 3% year over year. The average sales price decreased by over $21,000 to $239,585, while the median sales price also decreased by about $18,000 from December to $211,900.

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

 

 

The 2021 real estate market was anything but normal. However, industry experts are projecting that home inventory should increase in 2022 which would slow price appreciation. With experts projecting a rise in inventory and mortgage rates remaining relatively low, both buyers and sellers stand to benefit from moving this year. Although today’s market may not be as crazy as it was a year ago, it is still strong. The average days on market in December stayed consistent with the previous months at 21 days on market. New listings in the Greater Harrisburg Area decreased from November to 485 new listings, a decrease of almost 200 listings. Active listings also decreased to 544 units, a decrease of almost 100 from the previous month. While there were fewer homes on the market the number of units sold increased slightly to 774 units. The average sales price decreased slightly to $261,242, the median sales price also decreased to $229,900.

 

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!

 

 

 

As inventory in the Greater Harrisburg Area remained low, the market also began to slow down as the holiday season approached. The average days on market in November stayed at only 20 days, which was consistent with the previous months and a slight decrease in days on market from the previous year. New listings decreased from 812 in October to 678 new units as active listings also decreased to 627 listings from 704 in October. Units sold decreased from the previous months to 724 units sold, which was also a decrease in units sold from November 2020. The average sales price decreased just slightly from $265,347 in October to $263,281, which was up from the previous year. The median sales price increased to $231,000 which was about a $1,500 increase from the previous month and a $16,000 increase from November 2020.

 

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!

    

Inventory is low and homes are still selling fast! In the U.S., homes spent an average of 45 days on the market, which was eight days fewer than the previous year. Home prices are still slightly higher compared to last year but may begin to lower when compared to the summer market. The average days on market in October stayed consistent with the past previous months at only 20 days on market. New listings in the Greater Harrisburg Area in October increased slightly to 812 new listings. Active listings stayed steady with the previous months at 704 active listings. Units sold decreased slightly from September to 741 units sold which was also a decrease in units sold from the previous year by about 65 units. The average sales price stayed consistent with September at $265,347. Meanwhile, the median sales price decreased by about $2,500 from the previous month to $229,500. Both the average sales price and the median sales price increased from the previous year by over $20,000. 

 

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!

 

   

According to Realtor.com’s September report, the market is beginning to move in favor of buyers. Median listing prices are starting to decline as the market starts to steady. While the median listing price nationwide in September was up 8.6% from the previous year, the amount of homes having price reductions increased to 17.9%, just slightly higher than in August. The average days on market in September continued to stay low at an average of only 20 days on market in the Greater Harrisburg Area. New listings on the market for September was 761 new listings, which was a decrease in new listings from August. Active listings stayed consistent with the previous month at 714 active listings. Units sold in September decreased slightly from August to 757 units sold, which was also a slight decrease from the previous year. The average sales price was $265,749, which was a slight decrease from the previous month. The median sales price in September was $231,000 which also decreased slightly from the previous month, but was a $27,000 increase from September 2020. 

 

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!

 

 

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!

 

 

As the median listing prices steady, there are hopes of a positive change in the market for homebuyers, according to Realtor.com. Nationally the inventory of new homes on the market was lower than the previous year, according to Realtor.com, there were 305,000 fewer homes actively for sale in July compared to July of 2020. Due to the low inventory of homes on the market, many buyers had to make quick decisions on homes. In the Greater Harrisburg Area the average days on market in July was 15 days, over a 50% decrease from July 2020.  New listings on the market also decreased from June’s high of 1,030 new listings to only 749 new listings in July. Even with a decrease of new listings, active listings on the market stayed consistent with the previous months at 629 active listings. Total units sold decreased slightly from June to 783 units in July, which was also a slight decrease from July 2020. In Dauphin and Perry counties, there was about a 7% decrease in units sold from the previous year. The average sales price for July stayed consistent with the previous month at $264,738, almost a $30,000 increase from the previous year. The median sales price increased by about $5,000 from June to $233,000 which was also a $15,000 increase from July 2020. 

If you’ve been thinking about selling your home, there is no better time! Click here to see what your home could be worth or reach out to us! 

 

 

 

In June the average days on market continued to decrease and was at only 16 days on the market in the Greater Harrisburg Area, over a 50% drop from June 2020 which was an average of 45 days on market. New listings increased by almost 200 from 844 in the previous month to 1,030 new listings on the market in June. Even with an increase in new listings hitting the market the total active listings in the Greater Harrisburg Area stayed at only 665 for the month, just 100 more active listings than May. Total units sold increased slightly from May at 819 total units sold in June, which in Cumberland county was a 67% increase in units sold from the previous year.  The average sales price in June decreased by a couple thousand to $265,345. The median sales price for the surrounding areas was $228,000 and although the median price decreased from the previous month it was still a $30,000 price increase from June 2020. 

If you’ve been thinking about selling your home, there is no better time! Click here to see what your home could be worth or reach out to us! 

 

 

In the Greater Harrisburg Area the real estate market continued with its trend as the inventory of homes available on the market was at an all-time low and prices continued to rise. The average days on market stayed consistent with the previous month at only 21 days on market, a 50% decrease in days on market from the previous year (May 2020). New listings decreased slightly from March to 844 new listings in Cumberland, Dauphin, and Perry counties. The total number of units sold in May increased from the previous month to 722 units sold, almost double the number of homes sold in May 2020. The month’s average sales price increased by $22,000 from March to $267,097, while the median sales price also increased by $14,000 to $239,950. Both the average and median sales prices increased by about $30,000 from the previous year. 

If you’ve been thinking about selling your home, there is no better time! Click here to see what your home could be worth or reach out to us!