Home sales in Central Pennsylvania continue to slide amid a dwindling supply of homes for sale, which is driving up prices.
In the Harrisburg area, November sales fell 8 percent compared to the same month a year ago, while York County home sales decreased by 7 percent from last year, according to data released Tuesday by Realtor associations in the York and Harrisburg areas.
The Greater Harrisburg Association of Realtors said 564 homes were sold in November in Cumberland, Dauphin and Perry counties, compared with 615 last year. The Realtors Association of York & Adams Counties reported 446 sales in November compared with 481 in November 2017.
“The only thing holding buyers back is the lack of inventory,” said Ken Worley, RAYAC president.
The November totals propelled the Harrisburg area to 6,652 sales for the year so far, down 7 percent from the 7,155 sales recorded through the first 11 months last year. York County home sales, meanwhile, are down 3 percent for the year to date, with 5,658 reported so far this year compared with 5,826 last year.
Homes that are hitting the market are selling at a faster pace and for more money than last year. The median-sale price this year in the Harrisburg area is $177,000, up 2.9 percent from the $172,000 reported last year in November.
In York County, the median-sale price is $175,000, up 3 percent from $169,900 last year.
The Greater Harrisburg Association of Realtors said listing inventory is down about 14 percent this year, with 1,906 homes on the market compared with 2,224 homes last year.
Of the 564 homes sold in the Harrisburg area in November, 276 were sold in Cumberland County. Dauphin County finished with 257.
Cumberland County sales were down by 3.5 percent over last year, while Dauphin County sales dipped by nearly 13 percent.
The median-sale price in Cumberland County was $204,950 in November, up nearly 8 percent from last year’s median price of $189,900.
In Dauphin County, the median-sale price for November was $155,000, a drop of nearly 6 percent from last year’s median price of $164,200.