New data published by the Pennsylvania Association of Realtors (PAR) showed 10,238 home sales within the state during September, down slightly from August but dropping by nearly 21% from September 2022.
The number of listings declined 23% in September compared to last year, with a total of 36,778 last month. The median home sale price decreased for the third month in a row, down 3% from August to $216,249 in September. However, the median home price also up 4% from $208,000 one year earlier; home prices reached a high of $229,004 in June.
“The housing market has remained fairly consistent throughout the commonwealth this year,” said PAR President Al Perry. “The challenging inventory situation is reflected in fewer sales. In many markets throughout the commonwealth, buyers have fewer choices and are competing for less homes and navigating the higher interest rates we’ve seen over the past several months. And the smallest number of homes available continues to be in the $125,000 to $249,999 price range.”