The great news for buyers is that the Pennsylvania housing market saw more homes on the market in April.
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Listings were up 3.5% in April over March, and up 7% compared to the same time last year, according to a report prepared for the Pennsylvania Association of Realtors®.There were 36,495 listings in April, compared to 32,761 in March.
“The growing number of homes on the market is good news for homebuyers,” said Bill Lublin, PAR president and a broker with multiple offices in the Philadelphia area. “The increased inventory gives buyers more options, so they may face less competition for a home. And this rising inventory also shows a small shift toward a more balanced market.”
Home sales jumped 11% from March to April, with 9,161 sales last month. However, the number of sales is down 5.8% compared to April 2024.
“We're also seeing the median home sales price remain strong,” Lublin said. “These home prices continue to show that purchasing a home is a great wealth-building tool over time.”
The median sales price rose to $295,000 in April, up 3.5% over March. The median price is up 7% from the beginning of the year.
“Working with a Realtor® is one of the smartest decisions you can make in a real estate transaction,” Lublin added. “Realtors® understand their local markets and they have professional negotiation skills to help you navigate this process, reducing your risk of costly mistakes.”
The Pennsylvania Association of Realtors® is a trade/professional association that serves more than 38,000 members in the commonwealth of Pennsylvania.
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SOURCE Pennsylvania Association of Realtors(R)
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