Inventory dropped and prices rose in the latest monthly accounting of Harrisburg-area home sales.
The Greater Harrisburg Association of Realtors (GHAR) reported on Monday that, for October, home sales increased by 8.5 percent while the median sales price jumped by 8.1 percent for its three-county region, compared to the year-ago period.
For the area, listing inventory dropped by 10 percent, while the median cumulative days on the market also fell, according to GHAR.
In Dauphin County, sales totaled 302 units, up from 288, while the median price was $171,500, compared to $160,000 last October. Sales in Cumberland County also rose, totaling 324 units versus 290, with the median price increasing to $218,950 from $206,000, according to GHAR.
In Perry County, 37 units sold versus 33 a year ago, while the median price rose to $179,900 compared to $172,500 in October 2018.
As it has in recent months, GHAR primarily credited lower interest rates for the stronger home sales market. In October 2018, the average interest rate for a 30-year, fixed-rate mortgage was 4.86 percent. Last month, the average was 3.78 percent, according to the economic research company Macrotrends.