The median home sale price in Centre County is on the rise in 2023, Redfin says
The State College area’s median home sale prices are on the rise in 2023, according to one real estate database.
Centre County’s median home sale price sits near $373,000 as of early February, according to real estate site Redfin. Data recorded for December transactions in the area reported a median home sale price of approximately $230,000.
Across the commonwealth, counties’ median home sale prices range from approximately $12,000 to $500,000. Data were not available for Cameron and Wyoming counties as of Feb. 6.
Here are the median home sale prices in Pennsylvania counties as of late January and early February, according to Redfin:
Note: This interactive graphic will automatically update as new figures become available.
Median home sale prices in Union County ($500,000) and Montour County ($485,000) lead all of Pennsylvania as of early February, Redfin says. Forest County ($12,000) and Potter County ($45,000) reflected the commonwealth’s cheapest prices.
Centre County homes sold for just a bit more than their asking prices in November, December and January, Realtor.com reports. October marked the most recent month in which the county’s median home list price ($330,000) exceeded the median home sale price ($302,500).
On average, Centre County homes sell after about 59 days on the market, down slightly from December’s 65-day sale average. Homes in the area typically go to pending in about 12 days, according to real estate site Zillow.
A general balance between supply and demand in Centre County reflects a balanced market for sellers and buyers, Realtor.com reports. State College’s housing market is described as “somewhat competitive,” indicating some for-sale homes receive multiple offers.
The median listing price in State College sits around $425,000, or $183 per square foot, clocking in above the median sale price of approximately $349,000, Realtor.com reports.
Here are the median home listing prices for other notable Centre County locations’ current inventories, according to Realtor.com:
- Bellefonte: $257,500 ($149 per square foot)
- Boalsburg: $422,400 ($175 per square foot)
- Philipsburg: $149,900 ($93 per square foot)
- Lemont: $319,000 ($199 per square foot)
- Centre Hall: $619,500 ($166 per square foot)
- Snow Shoe: $149,900 ($93 per square foot)
- Milesburg: $192,500 ($117 per square foot)
On average, State College’s home values have increased by approximately 6.5% in the last year, according to Zillow’s Home Value Index. The area’s median home value checks in at $364,932, according to data available through Jan. 31.
Median rent in State College also increased over the last year, Zillow reports. Median rent now checks in at approximately $1,875 per month, up $225 from last year. Depending on a rental’s number of bedrooms and property type, rent range can scale from about $600 to well above $4,000.
Zillow describes State College’s rental market as “warm,” indicating demand is increasing.
This story was originally published February 20, 2023 at 7:00 AM.
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