LEMOYNE, PA — Pennsylvania’s median home sales price has risen for the fifth month in a row, according to a report for the Pennsylvania Association of Realtors®. In June, the median price climbed nearly 6% to $312,000, up from $295,000 in May. This marks a nearly 6% increase compared to June 2023.
“One of the primary reasons we’re continuing to see rising home prices is due to the limited supply of available homes,” said PAR Incoming President Bill Lublin. He noted that while the number of listings has steadily increased since the beginning of the year, the overall inventory remains insufficient to meet the demand. “This imbalance pushes prices up as buyers compete for the limited properties available,” he added.
June saw about 1,000 more homes listed on the market, bringing the total to 38,149, a figure comparable to June 2023. Sales held steady from May to June, with 11,010 transactions.
Lublin emphasized the importance of working with a Realtor® to navigate the current housing market. He stressed that professional guidance is crucial as consumers deal with rising prices and limited options.
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