A lack of homes on the market is pulling down sales and sending prices higher in Cumberland County.
The Greater Harrisburg Association of Realtors said 273 homes were sold in Cumberland County in April, down from 346 in the same month a year ago. Meanwhile, the median-sale price rose to $210,000 this year, up from $191,750 last year.
“The market is great for sellers but not so much for buyers,” said Edwin Tichenor, the association’s current president and an agent with Turn Key Realty Group in Camp Hill.
Realtors have said a dwindling supply of homes in a market with a lot of buyers has led to more competitive offers, which has driven up prices. Home sales in Central Pennsylvania have been on the rise for six years.
Home sales in Dauphin County also totaled 273 for the month, down from 301 in April 2017, the association said.
But Dauphin County prices were in line with last year. The median-sale price in Dauphin County was $158,000 this year, nearly even with $157,900 last year.
Across the rest of the Harrisburg area, which includes listings in counties such as Perry, Juniata, Lebanon and York, April sales totaled 569. The association said there were 679 home sales a year ago. And the median-sale price was $175,000 this year compared with $174,500 last year.
“April numbers were absolutely down because of a lack of inventory,” Tichenor said.
Compared to recent years, April was fairly normal. Harrisburg-area home sales in April between 2014 and 2016 ranged from 509 to 568, according to the association. The highest median-sale price in those years was $165,000, in April 2015.
But because of strong buyer demand, homes are selling more quickly. The average listing in Cumberland County is on the market now for about two months, down from three months or more between 2014 and 2016.