Dauphin County Real Estate Market Update April 24, 2023

Welcome to your weekly market update! Today, we’ll be taking a quick look at the current state of the real estate market in Dauphin County.

To start things off, let’s talk about the number of homes hitting the market. Last week, we saw a whopping 62 new homes go up for sale, which is the highest number we’ve seen in a single week this year. On top of that, 91 homes also went under contract, which means the competition for available homes is getting even stiffer.

Unfortunately, we’re still experiencing a housing shortage, with only 272 homes available at the moment. To put things into perspective, the average number of homes available over the past 5 years is closer to 400. And if you think that’s surprising, consider this: last year at this time, our 5-year average was close to 700!

So what does all of this mean for you? Well, it’s likely that home prices will continue to climb, albeit at a slightly slower pace than what we’ve seen in the past. With interest rates falling, more and more homebuyers are entering the market, which means they’ll be competing for the limited inventory we have left.

In short, it’s a crazy market out there right now. If you’re in the market to buy, be prepared to spend a bit more and be ready to move quickly when you find the right property. And if you’re thinking about selling, now could be a great time to get top dollar for your home.

Thanks for tuning in to this week’s market update! We’ll be back next week with more exciting news and insights.