LEMOYNE,
Pa., April 19, 2024 /PRNewswire/ -- The spring
homebuying market took off in March, with sales, listings and the
median sales price all increasing from February, according to a
report prepared for the Pennsylvania Association of Realtors®.
Home sales surged 23.6% from February to March, hitting 8,790
last month. However, sales are down 10.5% from March last year.
"We typically see an increase in activity in the spring season
and this year we're off to a strong start," said PAR President
Preston Moore. "This spring
represents a window of opportunity for buyers and sellers who want
to enter the market."
The median sales price of homes sold last month jumped to
$224,757, up 9% from the previous
month's price of $205,235. The median
sales price is also up 10.5% from March
2023.
Home listings on the market increased 7.6% last month compared
to February, reaching 33,233. However, listings are down 11.2%
compared to the same time last year.
"These additional homes on the market are helping to meet
consumer demand," Moore added. "Using a Realtor® to buy or sell a
home provides numerous benefits to consumers, including market
knowledge, access to listings, negotiation skills, guidance and
support, along with market analysis. These benefits all help to
ensure that buyers and sellers each have someone representing their
best interests in the real estate transaction."
The Pennsylvania Association of Realtors® is a
trade/professional association that serves more than 39,000 members
in the commonwealth of Pennsylvania.
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SOURCE Pennsylvania Association of Realtors