Are We Still in a Hot Seller’s Market?

Is the market still hot, or is it getting colder?
There are a variety of opportunities in the Central Pennsylvania real estate market for both buyers and sellers.

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Are we currently still in a seller’s market? There are a couple of factors to consider before we answer this question: 1. Inventory is increasing. Back in March, as we were well into the spring selling season, there were 260 active listings in Dauphin County. In all of September, in the middle of the fall selling season, there were 307 active listings. That’s 47 more listings! Inventory is way up. 2. Multiple offers are down. With that increase in inventory, the number of multiple offers we’re seeing is also down. Earlier this year, we might have gotten around 10 offers on a home. However, we might only get two or three today. Overall, the number of multiple offers and bidding wars is way down. 3. Mortgage rates have gone up. This makes it harder to afford homes. 4. The number of showings is down. The number of showings in March of this year was 1,178. In September that number dropped to 662.

Now is the time to put your home on the market.

As we head into the holiday season, demand for homes will go down as inventory rises. So are we still in a super-hot seller’s market? The answer is no, but we are generally still in a seller’s market. It appears that we have peaked, and a decline in the seller’s market has begun. If you’ve thought about putting your home on the market but found yourself waiting and waiting, don’t wait any longer—now is the time. I don’t know what’s going to happen to the market next year; it could be better or worse than this year. What I do know is that now is still a great time to sell. There is still demand. If you have any questions regarding our market or real estate in general, feel free to call us at 717-695-3177 or email We have buyer and listing specialists waiting to help you!