Harrisburg Homes Are Selling Fast: Fourth-Hottest Metro

Harrisburg ranks No. 4 in the top 10 fastest-selling metros, according to Creditnews Research.

With a median of just nine days on the market, homes in Harrisburg are seeing a significant decrease in the time between listing and pending. Compared to pre-COVID, the metro area has seen a -60.87% change in the time it takes homes to sell. Notably, it has also seen a -57.70% change in inventory since pre-COVID.

“The Harrisburg area market continues to face challenges due to inventory shortages,” says Greater Harrisburg Association of Realtors® President Tracy Klinger. “Interest rates that are higher than what we’ve become accustomed to are a large part of the equation. While current homeowners have most likely accumulated significant equity in their home over recent years and the numbers look appealing to them on the selling side, higher prices and interest rates on the buying side are making it difficult for them to make a move. This is especially true when they have a current mortgage loan with an interest rate in the 3-4% range and would be looking at a new mortgage loan with an interest rate in the 6-7% range.”

Additionally, all of the top 10 fastest-selling metros saw a significant negative change in both days-to-pending and inventory since pre-COVID, with Hartford, Connecticut (No. 1), seeing a steep change of -84.62% in days on the market and another notable change of -67.20% in inventory.

The list of top 10 fastest-selling metros includes:

1. Hartford, Connecticut (median days-to-pending: 8)
2. Rochester, New York (9)
3. Syracuse, New York (9)
4. Harrisburg, Pennsylvania (9)
5. Richmond, Virginia (11)
6. Grand Rapids, Michigan (11)
7. New Haven, Connecticut (11)
8. Boston, Massachusetts (12)
9. Columbus, Ohio (12)
10. Worcester, Massachusetts (12)

Conversely, the top five metros where homes are selling slowest are:

1. Austin, Texas (median days-to-pending: 66)
2. McAllen, Texas (53)
3. Poughkeepsie, New York (51)
4. San Antonio, Texas (49)
5. New Orleans, Louisiana (48)