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Steady on 'til morning: First half home sales stats

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As part of our summer “road show” meetings (where our leadership team travels to regional centers to have a BBQ with the agents), we crunched the numbers for our midstate residential real estate market.

While our analysis of internal and MLS figures showed a basically flat market, I think there’s room to be pleased with a “steady on” perspective as we survey the second half of 2014.

For all midstate counties, residential home sales were off by 1.7 percent from 2013. Average sale price remained virtually steady in the $174,000 range. Average days on market to sell a home declined 3.8 percent to 89 – just under three months on average.

Lancaster County had the most closed sales at 2,291. Cumberland continued to have the highest average sale price at $214,544, and Lancaster also posted the best (lowest) days on market at 74.

The biggest changers versus the first half of 2013 were Lebanon County for home sales – up 8 percent. Adams County posted the strongest percentage increase in sale price from 2013, up 5.3 percent to $176,443. Days on market for homes selling in Cumberland County fell a whopping 10.7 percent this first half, to 91.

So let’s “steady on ’til morning” into the late summer and fall in Central Pennsylvania. With demand running strong and diminished stock of quality residential properties for sale, I would predict a nice bump in Q3 over 2013, which should fully offset the negative effect the prolonged winter in February had on home sales this year.

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Jeff Geoghan

Jeff Geoghan

Jeff Geoghan is the marketing manager for Coldwell Banker Residential Brokerage in Central Pennsylvania, based in Camp Hill with 20 offices in 10 counties. Jeff lives in East Petersburg, where he also serves as mayor. He has been active in local government and business and has been used as a resource by local, regional and national publications.

All opinions in Jeff’s blog are his own and do not reflect those of his company or any other entities.

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