Local Market

"County Ends 2007 with Some Good News": by Ellen Kline; February 2008; With 2007 now in the books, we can look back and find that real estate prices were just a bit higher in average price than in 2006 – that’s good new compared with changes in many parts of the US. This is especially great news based on the numbers as of the second quarter of 2007 – then, we were down 15 percent in units sold, not creating a favorable outlook for the balance of the year as we usually consistently sell the most homes in the first half of any year.; Click here for complete article
"Centre County Housing Market Trends: 2007 Review and 2008 Preview": by Nancy VanLandingham; January 2008; The national media would have you believe that housing markets all across the country are in a tailspin. But remember, all real estate is local, and our market here is in much better shape than those on the east and west coasts. Across Centre County, the housing market of 2007 behaved very much like the housing market of 2006. A total of 1562 homes sold through the county wide multi-list in 2007, compared with an almost identical 1556 in 2006.; Click here for complete article
"Housing Market Experiences First-Quarter Slowdown": by Ellen Kline; July 2007; The real estate market in Centre County is softening. A Quick review of first-quarter numbers from 2005, 2006, and 2007 from The Centre County Association of REALTORS Multiple Listing Service (MLS) shows an erosion in units sold of almost 40 in two years. State College-area units are down 29 from 2005 but average sale price has steadily increased from $206,123 in 2005 to $232,222 for the first quarter this year. See the chart below for details.; Click here for the chart and complete article
"State College and Centre County Housing Market: 2006 Review and 2007 Outlook": by Nancy VanLandingham; January 2007; Across the United States more than two-thirds of Americans own their own homes and the percentage is increasing every year (U.S. Census Bureau, 2005). In Centre County, with the presence of 40,000+ Penn State students, those numbers are slightly lower. Still 60% of Centre County housing units are occupied (Centre County Planning Office, 2004).; Click here for complete article