Recently, I traveled West to visit my 86-year-old mother in Utah, who remains vibrant and active, engaging in daily walks, baking fresh bread, and managing her own medication. However, a significant change has unfolded; my nephew, who previously lived with her, has moved out. This shift in her quiet home has prompted discussions about possibly selling and seeking a simpler living arrangement.
As a real estate professional, my curiosity was piqued regarding market conditions in her area. Upon consulting a trusted colleague in Logan, Utah, I learned that the once robust market is now experiencing a noticeable slowdown. Homes are remaining unsold for 60, 90, or even over 100 days, leading to price reductions and anxious sellers. This cooling trend raises interesting questions about real estate dynamics in other regions, particularly in Central Pennsylvania, where I operate predominantly.
To assess the market back home, I reviewed data from the Hershey/Hummelstown/Palmyra area. The findings reveal a strong and steady demand for homes. In April, there were 111 new listings, compared to 103 the previous year, giving buyers more options. Despite this increase in inventory, home prices are continuing to rise. The median list price jumped from $350,000 to $374,900, marking an increase of over 7 percent, while the median sold price increased by 10 percent to $358,000—a significant leap in just one year.
Additionally, total sales volume surged nearly $4.5 million year-over-year, not simply due to escalated prices but also because of more closings; April 2025 saw 76 homes sold compared to 68 in the same month last year. Homes are also selling more quickly, with average days on the market dropping from 23 to 19. In this current market, a well-priced property can go under contract before prospective buyers even see the open house flyers.
Pending sales have remained consistent, with 90 this year compared to 92 last year, indicating a healthy momentum as summer approaches. For homeowners in the area, this translates to a robust and resilient housing market. Although there is more inventory available than last year, buyer demand remains strong, creating a favorable environment for sellers. Buyers should be prepared as desirable homes continue to move swiftly.
As for my mother, we will take our time in deciding her next steps, knowing we have ample opportunity to explore what the future may hold.