July 2012 might be categorized as the good, the bad and the unknown. First, naturally the good news. The number of sold Central PA homes this July increased by 4.8% over July 2011 and there was a less than 1% decrease in the average sales price year over year in the greater Harrisburg area. This continues the moderate improvement in the real estate market in this area and I anticipate this will continue throughout the rest of 2012. The bad? Well we still have an excess supply of homes for sale at this point and although there continues to be an improvement in the numbers there are great opportunities for home buyers and sellers. Why? Although not a great percentage of the homes for sale are composed of short sales and foreclosures it appears that the perceived negative on home values continues in the market. And as has been discussed in many media outlets people are concerned about their home values being less than a few years ago and their own financial well being.

Even though Central Pennsylvania real estate has not been as affected negatively by the financial slowdown there has definitely been some pullback and caution that continues in the real estate market. The unknown is, at least today, the increases  experienced in mortgage interest rates and is the increase a temporary blip or the beginning of a trend towards higher rates? As an example rates on a 30 years fixed rate mortgage is up by .50% in the last two weeks and if the increases continue the purchasing power for buyers will decrease and be reflected in real estate values. I said two weeks ago that we never know when the interest rates hit the absolute bottom until they have already begun to increase. I do not think we are there yet and hopefully I am correct on that prognosis.

In comparison the 2011 or even 2010 we have made significant improvement in the real estate market and I do think the good will definitely outweigh the bad and the unknown. We are here to answer any real estate questions that you have so please contact us.


School Districts

West Shore

School District                      Average Sales Price 2011                   Average Sales Price 2012   Days on Market

Camp Hill                    $172,400                                 $186,160                      111/40

Cumberland Valley      $296,855                                 $266,155                     104/102

West Shore                  $178,326                                 $169,121                     104/80

Mechanicsburg             $200,770                                 $202,763                     67/89

Northern York               $235,608                                 $213,682                     91/126

Carlisle                         $181,062                                 $163,378                     111/105

East Pennsboro             $156,175                                 $150,647                     180/92


East Shore

School District                      Average Sales Price 2011                   $Average Sales Price 2012                Days on Market

Central Dauphin                   $189,766                                               $205,755                               116/112

Derry Twp                             $322,427                                               $244,253                               90/53

Lower Dauphin                     $235,586                                               $269,124                               98/66

Harrisburg                             $75,530                                                $56,281                                 156/96

Middletown                          $113,069                                               $134,967                                69/119

Steel High                             $69,400                                                $79,267                                 130/62

Susquehanna Twp               $151,141                                               $147,500                                 97/90 


Search all Harrisburg PA homes for sale.

When you are buying or selling property in today's Harrisburg PA real estate market, it's important to have confidence in your real estate professional. Don’s commitment as your Harrisburg PA REALTOR® is to provide you with the specialized real estate service you deserve.

When you are an informed buyer or seller, you'll make the best decisions for the most important purchase or sale in your lifetime. That's why Don’s goal is to keep you informed on trends in Harrisburg PA real estate. With property values continuing to rise, real estate is a sound investment for now and for the future.

As a local area expert with knowledge of Harrisburg PA area communities, Don’s objective is to work diligently to assist you in meeting your real estate goals.

If you are considering buying or selling a home or would just like to have additional information about real estate in your area, please don't hesitate to call me at (717) 657-8700, complete my online form, or e-mail me at don@donroth.com.