Schuylkill & Berks County Real Estate Report
NAR just released their September Existing Home Sales report.
Month-over-month sales were up 7% over August numbers but down 2.3% year-over-year. Yes the market is indeed slowing. We felt it in our office since August – that while we were still busy with buyers and putting in lots of offers, the phones slowed down just a bit in August and more in September.
Even with that slow down we still are at record lows in listing inventory, and less choices than in prior years for our buyers seeking houses. October traditionally sees a little more inventory come on the market and that was true in Berks and Schuylkill for this year. But it’s still not enough to satisfy the strong demand.
The Pennsylvania median home price fell slightly to $192,582 in October, compared to the previous month, according to a statewide report prepared for the Pennsylvania Association of Realtors®. However, the median price is still nearly 10% higher compared to the same time last year.
Like the rest of the country, the number of listings continues to be a challenge in most housing markets throughout the state. Listings fell about 5% in October compared to September but are down 22% from last year at the same time.