HARRISBURG, Pa. (WHTM) – For those having trouble looking to be a homeowner in Harrisburg, chances are you’re not alone.
“More people want to buy and they’re ready to buy, and we just don’t have those homes on the market,” said Jen Feinberg, with the Jen Feinberg Real Estate Team at Berkshire Hathaway Home Sale.
“Over the recession, new construction sort of came to a halt, and now, new construction is starting to catch up, but it just hasn’t yet,” said Michelle Gueci, president of the Greater Harrisburg Association of Realtors.
According to the Greater Harrisburg Association of Realtors, from May of 2018 to 2019, the number of homes on the market locally is down 18%.
The organization says the rest of the nation is dealing with a similar problem. There’s also another reason homes on the market are scarce.
“A lot of first-time homebuyers out there, and I think there are a lot of people living in those first time under $300,000, under $350,000 homes that are comfortable there,” said Feinberg.
Within the last two years, real estate agents say it’s become even more of a seller’s market.
“The average days on market in Cumberland, Dauphin, and Perry County is right around 40 days,” Gueci said.
To put that in perspective, the Greater Harrisburg Association of Realtors says about a decade ago, it could take up to a year for a home to sell.
“From May 2018 to May 2019, the pace has increased by 15%, so some of the buyers out there are not being outbid once, they’re being outbid twice, three times, sometimes four times,” Gueci said.
If you’re in the market for a home right now, you have a lot of competition.