PA Real Estate Market Report. The Pennsylvania Association of Realtors recently released housing statistics for the second quarter of 2015, and the market continues to steadily improve. Perhaps most notably, the median sales price increased 3.3% over this time last year to $175,500. Sellers are also benefiting from quicker sales; the average Days On Market decreased 3.5% to just 82 days.
While it’s a “Seller’s Market,” it’s important to note that many areas in the region are still accessible to buyers. Continued low interest rates have kept home ownership affordable, although experts warn that rates could increase this winter.
Additionally, pending sales (homes that are under contract and awaiting settlement) increased 8.5% and new listings increased by 86,920 units. For the full pa real estate market report, click here.