June 2020 Market Snapshot


Monthly Market Indicators

While much of the country was working on a phased reopening of the economy in June, real estate activity continued to strengthen as well. Nationally, June showing activity as tracked by ShowingTime was up notably from the COVID-19 depressed levels in recent months but was also up from June 2019, reflecting pent-up demand by prospective home buyers.

New Listings in the Harrisburg region decreased 30.3 percent to 23. Closed Sales stayed the same at 21. Inventory levels fell 11.3 percent to 55 units.

Prices continued to gain traction. The Median Sales Price decreased 1.6 percent to $236,000. Days on Market was down 15.1 percent to 66 days. Sellers were encouraged as Months Supply of Homes for Sale was down 30 percent to 2.9 months.

While buyer activity continues to be robust, seller activity continues to be a bit softer, with fewer homes being listed for sale than a year ago. Many housing experts believe sellers remain reluctant to list their homes due to continued concerns over COVID-19, which was beginning to see a resurgence in June. Until sellers regain confidence, housing inventory will continue to be constrained during what is expected to be an active summer selling season.

Housing Supply Overview

Nationally, June showing activity as tracked by ShowingTime was up notably from the COVID-19 depressed levels in recent months but was also up from June 2019, reflecting pent-up demand by prospective home buyers. While buyer activity continues to be robust, seller activity continues to be a bit softer, with fewer homes being listed for sale than a year ago. Until sellers regain confidence, housing inventory will continue to be constrained during what is expected to be an active summer selling season. For the 12-month period spanning July 2019 through June 2020, Closed Sales in the Harrisburg region were up 32.1 percent overall.

The overall Median Sales Price was up 3.5 percent to $238,024.

Market-wide, inventory levels were down 29.4 percent. The construction type that lost the least inventory was the New Construction segment, where it decreased 26.6 percent for the month. That amounts to 3.2 months supply for Single Family homes and 35 months supply for Condos.

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