Harrisburg Area Could Eclipse 10000 Home Sales This Year

Dated: 08/02/2017

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The Harrisburg area is on pace to crack 10,000 home sales this year for the first time.

In 2016, the local housing market finished with a record 9,951 home sales.

The Greater Harrisburg Association of Realtors this week reported 2,970 sales in the second quarter, up from 2,825 in the same quarter a year ago. In the first quarter, home sales totaled 1,866, an increase from 1,775 last year.

Assuming strong sales continue, 10,000 is an attainable goal. The market finished 2016 with 2,755 third-quarter sales and 2,431 fourth-quarter sales.

The second quarter figure was the strongest second-quarter total in 12 years, said John Esser, president of the association. June alone accounted for 1,147 home sales, up from 1,101 last year.

By county, Cumberland and Dauphin ran neck and neck in the second quarter.

Dauphin County had the slight edge, finishing with 1,039 home sales at the end of June. Its West Shore counterpart finished the quarter with 1,036 home sales.

The association's multiple-listing service, or MLS, also covers Perry County as well as portions of other counties, including Lancaster, Lebanon and northern York.

More about Q2

The bulk of homes sold in the Harrisburg area are under $200,000.

There were 1,747 home sales in that price range in the second quarter. However, all segments have seen increased activity. There were nearly 200 home sales over $400,000, up from 151 last year.

The median-sale price in Cumberland County was $197,000 in the second quarter, while Dauphin County finished at $159,900, according to the association.

The median-sale price for the Harrisburg area increased 2.9 percent in the second quarter to $177,000, up from $172,000 a year ago.

The average days on market across the area was 68 in the second quarter compared with 71 a year ago.

Meanwhile, new listings fell below 4,000 in the second quarter, down from about 4,200 in the same quarter last year.

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Source:  Scott, Jason.  "Harrisburg Area Could Eclipse 10,000 Home Sales This Year - CPBJ."  Central Penn Business Journal, 20 July 2017, www.cpbj.com/article/20170720/CPBJ01/170729990/harrisburg-area-could-eclipse-10000-home-sales-this-year.

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Tom Blefko

Tom Blefko is the Vice President of Operations for RE/MAX Pinnacle. He is originally from Lancaster, PA and is a graduate of Franklin & Marshall College with a B.S. in Business Administration. He en....

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