Top Large Teams in Pennsylvania – Ranked by Sides

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2023 Pennsylvania Housing Market Summary

Pennsylvania started 2023 with a total of 12,773 single-family homes on the market, with a median home price of $275,000 and an average price per square foot of $180. By the end of the year, inventory had increased to 12,983 homes on the market (+1%), with a median home price of $285,000 (+3%) and an average price per square foot of $193 (+7%).

At the start of 2023, the median days on market (DOM) was 77 days – by the end of the year, median DOM had decreased to 70 days.

Pennsylvania started the year with 37% 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 36% of Pennsylvania homes for sale had taken a price cut.

Finally, Altos’ proprietary Market Action Index (MAI) shows that Pennsylvania started 2023 as a seller’s market, with an MAI score of 43; by the end of the year, the MAI had dropped to 37 – 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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