Pennsylvania’s housing market held steady in August with a slight decline in home sales and stabilizing home prices.
According to data from the Pennsylvania Association of Realtors (PAR), the state recorded 11,514 home sales in August, a 1% year-over-year decline. This occurred while the state experienced a 3.5% year-over-year increase in listings, totaling 37,664 for August.
Also last month, the median home sales price remained about the same as July, at $305,000, while the price was up 7% from the August 2023 the price of $285,000.
“We’ve been seeing stable prices and inventory at the state level, although conditions may vary somewhat in local marketplaces,” said PAR President-elect Bill Lublin. “We continue to see multiple offers on properties, although fewer numbers than we were seeing a year ago. Though the market is still very competitive, more houses offer buyers more opportunities and, with professional guidance, more success.”
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