Home - PA Future (2024)

FAQs

Are home prices dropping in PA? ›

The median home price in the current housing market Pennsylvania has is $298,400 as of May 2024 according to Redfin. This number is up 7.3% compared to last year. Comparatively, the United States median home price is $438,601.

The house of the future should be both airtight and breathable. An 'airtight' layer on the inside wall means that warm, moist air from areas like the kitchen and bathroom can't seep into the building fabric.

Pennsylvania real estate market favors sellers in 2024. (And buyers, too!). The market is expected to lean more in favor of the buyers in the latter half of 2024. Home prices are rising modestly, and the number of homes for sale has increased by 8.4% YoY.

June, July, and August are the best months to sell your house in Pennsylvania. The median sale price of houses in June 2023 was $298,400, which is expected to rise in 2024. However, cities like Bethlehem and New Castle follow an upward trend throughout the year.

Houses will be interactive and fully wireless, allowing us to access data from any point. A drive for extensive resource efficiency could see water harvested and recycled within each home. Integrated solar panels and microgen combined with ultra-thin insulation films will allow some houses to come off the grid.

The state where house prices are predicted to be the highest by 2030 is California, where the average home could top $1 million if prices continue to grow at their current rate. Other states expected to see their average house price rise above the $750k mark include Hawaii, Washington and Colorado.

About a quarter of homes will be built without basem*nts. Just over half will have four or more bedrooms, and nearly 40% will have three full bathrooms. Laundry hookups will be located on the second floor in 60% of homes. All homes will have central air, 61.5% will have heat pumps, and 68.5% won't have a fireplace.

Real Estate investors looking for returns from both cash flow and appreciation continue to love Pennsylvania for investment properties. The Keystone State is loved by real estate investors due to many factors including a strong diversified economy, booming population and natural beauty that drives year-round visitors!

“The number of listings has increased steadily since the beginning of the year; however, the overall inventory is insufficient to meet the demand. This imbalance pushes prices up as buyers compete for the limited properties available.”

It could take until 2026 to see a 'normal' real estate market. To get affordability back to a comfortable range will take a combination of higher wages, lower interest rates and stable prices, economists say, and that combination may take until 2026 or later to coalesce.

What is the average price of a home in Pennsylvania? ›

There are currently 40,471 homes for sale in Pennsylvania. The median list price in Pennsylvania is $299,000 and the average price per square foot is $181.