Real Estate Sales Transactions

Below is a link to Real Estate sales numbers in Central Pennsylvania over the last 3 years.

This information was provided by the Central Penn Multi-List inc.

CPMLSales 2007 2010

Central Pennsylvania Home Prices rise in 2010

According to Central Penn Multi-List, Inc., the median price of a home rose by 1.2 % from 2009. This sounds good and may seem like a sign that the Real Estate market is rebounding. But looking closely at these numbers and others released in January tell a different story.

While the median price in the Central Penn Area did rise to a median cost of $ 163,900 from $161,900 , from 2009, the fourth quarter numbers of 2010 show a slight decrease.In the fourth quarter of 2009 the median price was $ 158,000. In 2010 it fell to $ 156,000.

The numbers discussed above show that our area does not fluctuate like the national averages and we have fairly steady median prices.

BUT:

One other number released last month was the number of residential units sold in the South Central Pa area. IT shows a decrease of 12% over 2009.

I think this number is a better indicator of the true market conditions buyer, sellers and Realtor face. Less units moving, regardless of the price, is the real problem.

Let me know what you think….