Harrisburg Named One of the Toughest U.S. Markets for Buyers

While a wealth of job opportunities, cultural experiences and a low cost of living is beneficial to the area, homebuyers in Harrisburg may be struggling to find a property this year.

Realtor.com® just named Harrisburg the eighth hardest place to buy a house in the U.S., based on data from the fourth quarter of 2019. And Realtors® have noticed how the lack of inventory is impacting buyers.

“We have seen this through our market place. Although listing inventory has stabilized in the market place from this time last year, average days on market has decreased by almost 30% to 42 days. If a buyer comes to market to buy a home, they will most likely be competing and will need to make a quicker decision to have a chance. No more ‘we want to sleep on it,'” said Adrian Smith, president-elect of the Greater Harrisburg Association of Realtors®.

Smith said the lack of housing in the area is most likely due to job growth, specifically in the areas of logistics and warehousing healthcare and government. The area itself is also offers a worthwhile environment for many people. Smith said the housing market in central Pennsylvania has “always been stable,” and he said he believes it will continue to be that way, thanks to “low cost of living, highly rated schools and location, location, location.”

“We are literally, on average, 2.5 hours away from Baltimore, Washington, D.C., Philly, New York and Pittsburgh, and three hours away from the beaches,” he added.

However, not all hope is lost for buyers looking for their dream home in the Harrisburg area. Smith said new construction is alive and well in the area, and he believes that will be a help for inventory.