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Houses continued to become more expensive across the state in November, while sales dropped from the same time last year.
According to the latest housing report from the Pennsylvania Association of Realtors, the Pennsylvania median home price was up 5.2% year over year in November.
Meanwhile, November’s median sales price was $305,000, compared to $290,000 in November 2024.
The median sales price jumped 1.6% over the average price of $300,000 in October.
“In Pennsylvania, home prices have remained remarkably steady throughout the year, providing a sense of stability for both buyers and sellers as the market continues to adjust to changing conditions,” said Bill Lublin, PAR president. “Even in a steadier pricing environment, homeowners are benefiting from rising equity, showing the lasting financial value of investing in a home.”
The number of home sales fell slightly less than 2% over year to 9,200 in November, compared to 9,380 last year. Sales dropped 17% in November compared to October.
There was a break in the tight inventory the state has been experiencing.
The number of homes on the market increased 3.4% compared to this time last year. However, that number fell slightly to 41,200 in November from last month’s 43,600.
“We’ve seen a gradual upturn in listings this year,” Lublin said. “With more homes coming onto the market, consumers have greater flexibility as they navigate their housing decisions.”