Weekly Real Estate News
The median home sales price in Pennsylvania reached an all-time high in June at $325,000, up 6.5% from the $305,000 price recorded one year earlier.
According to data from the Pennsylvania Association of Realtors (PAR), the spike in home prices coincided with an uptick in home sales – 11,850 last month, up from 10,938 in June 2024.
Also on the rise were the number of listings on the market – 41,600, a 9% rise from the 38,100 recorded the same time last year. Inventory levels hit 4.32 months, which PAR defined as still being a seller’s market.
“The growth in inventory is a positive sign for the market,” said Bill Lublin, PAR president and CEO of Century 21 Advantage Gold in the Philadelphia region. “Home prices illustrate that purchasing a home is a great investment. As inventory rises, we anticipate a gradual return to a more balanced market where both buyers and sellers can make decisions with greater confidence.”
