Pennsylvania Housing Sales Jump 12 Percent In The Third Quarter

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Pennsylvania Association of Realtors(R)

Oct 14, 2015, 11:53 ET

LEMOYNE, Pa., Oct. 14, 2015 /PRNewswire-USNewswire/ -- The Pennsylvania housing market continued its healthy trend in the third quarter with a 12 percent leap in closed sales, compared to the same period a year ago, according to a report published today by the Pennsylvania Association of Realtors® (PAR).

Closed sales numbered 47,910 in the third quarter of 2015 compared to 42,671 in Q3 2014. Pending sales are also up 8 percent to 42,416.

"We're experiencing a strong market throughout the Commonwealth," said PAR President Ron Croushore. "With positive economic news like an improving job market and steady interest rates, more people are finding their circumstances favorable to buying a home."

Prices continued to gain traction with the median sales price increasing nearly 3 percent to $179,900 in the third quarter, compared to $175,000 the same time last year. Days on market improved as well, dropping nearly 4 percent to 73 days.

"The number of new listings improved as well, up nearly 3 percent to 72,404," Croushore said. "This shows sellers are finding conditions favorable for listing and it provides greater choices for buyers. Working with a Realtor® can help sellers prepare their home for sale and buyers can ensure they get the most for their money."

For a full copy of the report, visit PARealtor.org.

The Pennsylvania Association of Realtors® is a trade/professional association that serves more than 30,000 members in the Commonwealth of Pennsylvania.

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SOURCE Pennsylvania Association of Realtors(R)