Top Small Teams in Pennsylvania – Ranked By Sides

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2022 Market Summary

Pennsylvania started 2022 with a total of 10,268 single-family homes on the market, with a median home price of $259,900 and an average price per square foot of $177. By the end of the year, inventory had increased to 13,463 homes on the market (+31%), with a median home price of $275,000 (+5%) and an average price per square foot of $179 (+1%).

At the start of 2022, the median days on market (DOM) was 70 days – by the end of the year, median DOM had increased to 77 days.

Pennsylvania started the year with 28% of homes taking a price cut (for reference, 35% is the national average for price reductions in a ‘normal’ year.) By the end of the year, about 38% of Pennsylvania homes for sale had taken a price cut.

Finally, Altos’ proprietary Market Action Index (MAI) shows that Pennsylvania started 2022 as a strong seller’s market, with an MAI score of 48; by the end of the year, the MAI had dropped to 35 – a slight seller’s advantage.

This market summary is powered by Altos Research – click here to run a free report for your area.

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