Greater Harrisburg's Community Magazine

Lower mortgage rates push home sales, prices up in Harrisburg area

A row of houses in Midtown Harrisburg

Harrisburg area home sales jumped in September and prices also rose thanks to a drop in mortgage rates, according to the Greater Harrisburg Association of Realtors (GHAR).

In the three-county region, home sales increased to 607 units, a jump of 18.1 percent over September 2018, while the median home sales price rose 5.1 percent to $181,000, GHAR said on Thursday.

In Dauphin County, 292 housing units sold versus 254 in the year-ago period, and the median sales price increased to $167,500 compared to $164,900. Cumberland County saw home sales increase to 286 units from 233, while the median price rose to $209,950 from $189,000 in September 2018.

In Perry County, home sales increased by two units, to 29, while the median price was unchanged at $149,900, compared to the year-ago period, according to GHAR.

Overall, housing inventory was down by about 10 percent compared to September 2018, GHAR said.

“The sharp drop in mortgage rates over the past year has created additional demand,” said GHAR, in a press release.

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