Home sales in the Keystone State were down in September despite a spike in new listings, according to new data from the Pennsylvania Association of Realtors (PAR)
A total of 9,538 home sales were recorded, down 6.5% compared to September 2023. This occurred despite 9.6% year-over-year upswing in listings – 38,794 residential properties were on the market last month. The September inventory was the highest it has been compared to all of 2023.
Last month, the median sales price for residential properties in Pennsylvania was $295,000, down 3% from August but also 9% higher year-over-year.
“While price adjustments have been modest, the increase in inventory is a positive sign for buyers who have faced limited options and competitive bidding over the past year,” said Bill Lublin, PAR president-elect. “With more homes coming onto the market, we’re seeing a gradual shift toward a more balanced housing landscape.”
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