Central Pennsylvania Statistics

Year Units Sold Avg. Price Market Days Properties For Sale Appreciation

1995 5,289 $109,501 87 3,294 4%
1996 5,518 $113,949 90 3,154 4%
1997 5,560 $114,332 89 3,554 0%
1998 6,420 $119,850 91 3,290 5%
1999 6,482 $122,650 88 3,122 2.3%
2000 6,331 $123,661 89 3,200 1%
2001 7,189 $126,294 86 2,969 2.2%
2002 7,265 $132,382 78 2,366 5%
2003 7,565 $142,610 55 1,950 8%
2004 8,468 $156,158 50 1,883 9.5%

Take notice to the total number of units sold and the decreasing number of days a property is on the market. In a decade the time of the market has dropped from 87 days to 50 days. The "properties for sale" column is the average number of properties on the market at any given time during the year. The trends are clear... increasing demand, decreasing supply, increasing appreciation like Central Pennsylvania has never experienced.

In January of 2005, I predicted the trends would continue and that we would see double-digit appreciation in the residential market. I'll have the year-to-date 2005 statistics for you in the next couple of days. Want to guess what the average sale price and days on the market has been in 2005? The winner gets a $25.00 gift certificate to LOLA'S DAY SPA.