Hey there, house hunters and home sellers! Whether you’re dreaming about that cozy cabin escape or getting serious about listing your place this spring, let’s talk about what the real estate market was up to in Pike and Wayne Counties this past March.
I’ve got fresh numbers, and while they may sound like spreadsheet stuff, they’re actually your best friend when it comes to making smart moves in real estate. Let’s break it down:
🏡 Pike County
- Inventory: 3.18 months supply
This means if no new homes were listed, it’d take just over three months to sell what’s currently on the market. That’s a slight uptick—up 15.22% over the past year—which could point to a market starting to balance out a bit. - Days on Market: 68
Homes are taking about two months to sell, so buyers have some breathing room—but not too much! - Sold to List Price: 97.5%
Sellers are getting very close to asking price. Negotiation room? A little. But not much. - Median Sold Price: $311,750
🌲 Wayne County
- Inventory: 2.95 months supply
Inventory here has been holding steady, with no significant change in the past 12 months. It’s still a tight market, so homes are moving. - Days on Market: 49
Homes are flying a little faster here—many go under contract in under 7 weeks. - Sold to List Price: 95%
There’s a bit more wiggle room here than in Pike, but not much. Smart pricing still wins the day. - Median Sold Price: $325,000
Slightly higher than Pike, giving sellers some confidence while still staying within reach for buyers.
📊 What Does This Mean for You?
Both counties are showing signs of a somewhat competitive but not frantic market. Homes are still selling fairly quickly and close to list price, but buyers might notice a bit more inventory—especially in Pike.
If you’re a buyer, this could mean more choices without as much bidding war drama. And if you’re a seller, pricing it right from the start is key to attracting serious offers.
🏘️Why Track the Median Price?
Here’s why it matters:
- It shows the middle of the market. If you’re trying to get a sense of what a typical buyer might spend (or what a seller might expect), the median price gives a more realistic snapshot than the average.
- It helps track trends. If the median price is rising, it generally means prices are going up across most of the market—not just in luxury or bargain-priced segments. It’s a solid indicator of market movement over time.
- It’s useful for comparison. Looking at median prices month to month or year over year helps show how affordability and demand are changing in a specific area.
No matter which side of the “For Sale” sign you’re on, understanding the current landscape helps you stay one step ahead. And if you’d like a deeper dive into your neighborhood, price range, or goals—I’m always happy to help.
Feel free to reach out anytime, or follow my Lake Living PA Blog for more updates, local happenings, and smart tips to help you buy or sell with confidence.