Pennsylvania recorded 11,470 home sales in August, up by a slight 0.5% from 11,402 transactions.
According to data from the Pennsylvania Association of Realtors, the home listing levels reached 41,497 last month, which is up nearly 7% year-over-year from the 38,775 listings in August 2024. Inventory levels were down by about 2% month-over-month.
The median home sales price rose 6.4% to $319,250 in August, up from $300,000 one year earlier.
“When the Federal Reserve adjusts interest rates, it can directly influence mortgage costs. Even small shifts can affect a buyer’s monthly payment, making affordability a key factor in today’s housing decisions,” said Bill Lublin, PAR president and CEO of Century 21 Advantage Gold in the Philadelphia region. “With both prices and inventory holding steady, Pennsylvania’s housing market is showing a welcome sense of stability for buyers and sellers alike. When prices and inventory remain stable, it gives buyers and sellers the confidence to make their next move.”
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