Things are really moving in State College, PA under $200,000 this year! In the past 30 days we've seen single family homes and townhomes flying off the shelves with multiple offers and selling over full price. Recently I had a client that wrote 6 offers on different properties until he finally got one under contract. Things are very competitive right now. 
Currently there are only 26 active listings in that price range in the State College Area School District. This is typically the first time home buyer market in our market area. Interest rates are still very low and have resulted in 53 listings currently being sale pending in this price range. So far this year 79 listings have already closed in that price range as well. This has typically been an up and down market for that price range. In 2010 280 listings in the under $200,000 price range closed between January and December. In 2011 that number fell to only 233 closed listings under $200,000. The number of closed sales under $200,000 in the State College School District was back up in 2012 to 259 listings.
For 2013 I would predict we're going to be back up closer to the 2010 numbers of 280 closed sales in this price range. Investors are also buying lots of townhomes and condos in this price range as well due to the high rent that tenants are paying in this market. It's also a university town for Penn State University so student rentals are also on the upswing.
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