Pennsylvania Median Home Sales Price Dips Slightly, More Listings Hit the Market

The Pennsylvania Association of Realtors®’ September housing market report shows home prices have come down a bit, but the good news is there are more homes on the market.

In September, the median sales price for residential properties fell slightly to $295,000, down 3% from August. However, the price was up 9% compared to September last year.

At the same time, housing inventory showed signs of improvement, with the number of active listings rising 3% compared to August. There were nearly 38,800 listings in September, which is up more than 28% compared to January of this year. In fact, the inventory last month was the highest it has been since all of 2023.

Home sales declined last month to 9,538 from August and are down 6.5% compared to September 2023.

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. With more homes coming onto the market, we’re seeing a gradual shift toward a more balanced housing landscape.

Recent changes in the real estate industry require homebuyers to sign a written agreement with their agent before touring a home. Realtors® should explain the terms negotiated in the agreement so consumers understand exactly what services and value will be provided and for how much, before signing the agreement.

It’s incredibly important for Realtors® to explain the benefits they bring to both buyers and sellers in the real estate transaction. We’re able to assist them in navigating the transaction to help them achieve their real estate goals.