The question when driving somewhere of “are we there yet” is still being asked in the local Harrisburg PA area real estate market by many consumers. No we are not there yet but some optimism is being felt in the area. As can be seen by the graph below there is still a ways to go to bring our real estate market into what is called a balanced market, meaning across the board there is a six months supply of inventory is all price ranges. But progress is being made and the positive trend in the lower price ranges normally bodes well for the higher price ranges as we move forward.

central pa absorption rate

That being said progress that we see in the market is positive. The results are as follows; the average sales price for May 2012 increased slightly when compared to April 2012 and increase by 3% when compared to May 2011. And the number of homes sold and settled in the greater Harrisburg area increased by 16% when compared to May 2011. Positives, yes, but there is a large inventory overhang in numbers of homes that are currently available for sale. Bad for sellers? Possibly. Good for buyers and my answer is yes since there are plenty of choices in all price  ranges. So there is good news and we get there but as I have been saying “we are not there yet”.


School Districts

West Shore

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

Camp Hill                    $191,114                     $174,216                                 125/104

Cumberland Valley     $265,049                     $249,669                                 118/74

West Shore                 $179,210                     $157,928                                 140/93

Mechanicsburg           $194,026                     $179,301                                 108/100

Northern York              $149,378                     $252,563                                 115/83

Carlisle                        $164,333                     $178,879                                 94/192

East Pennsboro           $167,876                     $147,880                                 98/103


East Shore

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

Central Dauphin        $204,823                     $190,660                                 95/109

Derry                           $229,523                     $272,065                                 44/107

Harrisburg                  $ 68,756                      $ 56,208                                  120/142

Lower Dauphin          $261,327                     $257,048                                 215/133

Middletown                 $110,967                     $123,818                                 88/69

Steel High                    $ 63,375                      $ 96,873                                  95/135

Susquehanna             $168,113                     $152,285                                 117/111