Three Pa. Markets Are Hottest Nationwide, Says Realtor.com

Lancaster, Allentown and Reading all made Realtor.com’s top 20 hottest markets of February.

In February, Lancaster was the 12th hottest market with 2.1 more viewers per property than the nationwide average. Realtor.com reported that the market saw a median of 39 days on the market, and the median list price in the area was $420,000. Of the 20 hottest markets, they stated that Lancaster was one of the four cooling ones, seeing prices dip by 0.5%.

However, according to the Lancaster County Association of Realtors® March housing report, the area saw continued growth last month.

“Lancaster experienced a seasonal lull in the fourth quarter of 2023, but has been heating up in 2024,” LCAR President Jeff Peters comments. “We’ve experienced three straight months of increased listings, pending sales and sold units. Our average days on the market started at 30 in January and dropped to 19 in March. Our median sold price is now $325,000, compared to $300,000 last month.”

“I anticipate April to continue to offer similar growth,” Peters adds. “I do believe we are in the midst of a spring market that will offer increased listing activity and ultimately higher prices. We’ve seen optimism growing with both homebuyers and home sellers. We continue to see strong buyer demand through competitive offer situations and have been experiencing sale prices well over the original asking price on a regular basis.”

Pennsylvania’s other hottest markets remained in high demand, says Realtor.com.

At No. 16, Allentown saw 1.8 more viewers per property than the nationwide average, with a median of 38 days on the market and a median list price of $370,000.

Not far behind, Reading, the 18th hottest market, saw 1.7 more viewers per property, a median of 38 days on the market and a median list price of $306,000.

Nationwide, the hottest markets in February were all located in the Northeast and Midwest. The other three that Realtor.com reported cooled off were:

• Oshkosh, Wisconsin: No. 10, -12.3% decrease in median list price
• Bridgeport-Stamford, Connecticut: No. 14, -9.8% decrease in median list price
• Dayton-Kettering, Ohio: No. 15, -0.7% decrease in median list price