Local Trends from 2014

file9831347376219Now that 2014 has ended, let’s take a quick look at the local housing market in Central Pennsylvania’s Susquehanna River Valley over the past year.

Lower Sales Volumes and Sales Prices

We saw slightly lower sales volumes over the course of the year and the average selling prices were down a bit, as well. However, our region fared better than the national home sales number, which was down 3.1 percent from 2013, according to the National Association of Realtors.

The takeaway?

Our region continues to remain stable, despite the ebb and flow of the market. 2013 continues to be the best year on record as far as we can tell and 2014 was not too far off that pace – that’s exceptional news for Central Pennsylvania.

If you’re curious about what made 2014’s numbers slightly lower, we tend to think it has to do with the cold start to the spring mark (remember all that snow in early 2014?). We also had a mid-summer lull when we typically see rising numbers of sales deals.

Want to know more? Contact a realtor at Bowen Agency Realtor today!