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My Biggest Party Question - How's the Real Estate Market?
My biggest party question is “How is the Real Estate Market” and my canned answer is “It’s great!”   The market is entirely different depending on where you live.  Some neighborhoods are doing quite well and others are not doing well at all.  That’s why buyers and sellers should not rely on reports they hear on TV or even reports on a broad local market as specific neighborhoods really tell the true story.   We don't have the capability to know how many buyers are out there in the market, but we do have the information on listings and days on market that are important market indicators.   The stock description is . . . A Buyer's market is a market with few buyers and many sellers and A Seller's market is a market with few sellers and many buyers.
I am happy to say in Central PA the existing-home market appears as healthy as it has been for some time in Central PA.   The number of units sold in South Central PA increased 3% in the 2nd quarter of 2014.  We believe the market is poised to improve.  The median price of $161,000 for an existing home has been consistent since 2012.   The ... more

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