The number of Pennsylvania homes on the market reached a three-year high in July, with 42,270 seeking buyers, a 9.5% year-over-year spike.
According to data from the Pennsylvania Association of Realtors (PAR), July’s listings were also up 1.5% from June. But despite the increased inventory, the 11,450 home sales in July remained about from the previous month and one year before.
The median home price rose 6.5% year-over-year to $320,000 in July, although it was also down slightly from $325,000 in June.
“We’re continuing to see a strong increase in housing inventory, reaching levels we haven’t seen since 2023. Over the past few years, we’ve faced historically low inventory, which fuels competition and higher prices,” said Bill Lublin, PAR president and CEO of Century 21 Advantage Gold in the Philadelphia region. “For the market overall, an increase in inventory points toward a healthier balance, supporting more sustainable pricing. Realtors are continuing to see strong demand from buyers and multiple offers on competitively priced homes.”
Photo: Welles Enterprises / Getty Images
