This is a question every real estate professional hears frequently, especially now that it’s 2023. The answer is “that depends.” You may see the media reporting a market decline, but what we see is the housing market stabilizing or returning to more “normal” conditions. This is good news after two years of craziness. In the Greater Carlisle area, the market is becoming a bit more “buyer-friendly”, but sellers are still consistently getting their asking price and even a bit more. Buyers are feeling more confident to make an offer without waiving contingencies, but many sellers are still holding out for the price they want.
According to the Pennsylvania Association of Realtors, Pennsylvania is starting to see prices leveling off.
Mortgage rates have dropped after creeping up over 7% in November and making some buyers cautious about entering the market. Locally, we are currently seeing rates right around 6% or mid 6% and we continue to see low inventory of homes for sale.
As always, using a real estate professional to assist in navigating the market, whether you are buying or selling, is going to provide you the best results. Call one of our experienced agents at Wolfe & Company Realtors for a complimentary market analysis or to discuss your options as a buyer.