Sarah Cook, Other/Just Looking in 16801

Is the housing market in State College cooling off as in some major markets, or is it still going strong?

Asked by Sarah Cook, 16801 Fri May 11, 2007

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3
Hello Sarah

Great question! You are wise in considering all your options as you indicate you are just looking as your profile indicates.

State College, Pennsylvania is MUCH different than other markets.

We know what the reality of the market will bear on a property with our method of brokering real and personal property. We have experienced the crumbling of the housing markets first hand...

In other parts of the Commonwealth of Pennsylvania we see much lower prices being brought to bear on real property.

In State College prices have declined but not near as much. We have asked the Centre County Association of Realtors to provide a compilation of the average days on market (DOM) and they do NOT publish this information. Why, you may ask? There is a method Agents/Realtors/Brokers use to prevent buyers from knowing just exactly how long a property will take to sell. What some do is "relist" these homes so to buyers they take the appearance of being "new" listings. REF. http://homebuying.about.com/b/2008/03/10/why-days-on-market-…
Another possible reason that the Centre County Association of Realtors may not want to publish all the cold hard facts of real property sales or no sales is that it does not reflect well on the profession of which they are there to advocate for... You can ask them for these statistics but they will not make this information public.

So what are some of the factors in State College that make it different when compared to other parts of the Commonwealth and the Country?

Penn State keeps a significant part of the population transient. What does this do to housing markets? This situation does offer more stability and less fluctuation in prices realized with the sale of real property.

I hope this gives you some insight as to what makes State College different than other real property markets.

If you would like to talk more personally about this subject always feel free to eMail or call us anytime.

We wish you nothing but the best of providence.
Web Reference: http://trueblueauctions.com
0 votes Thank Flag Link Sun Oct 11, 2009
Hi Sarah,
This is a delayed answer, but I recently joined Trulia! I have some archived market reports for the State College Area, Single-Family Home Sales (see reference web page below). They are grouped in different price ranges. As you view the data, you can see that the market activity can vary greatly depending upon the value of your home. If your house is under $350K, the market is moving at a healthy pace. Houses that are above this price are facing a lower absorption rate. When evaluating the Real Estate market, it is always important to keep it local and break it down!

State College has always been a very unique market and if you follow good advice, you should still be able to sell your property at a decent price. Should you have any further questions, you can feel free to post a new question or send me an email: nchen@remax.net.

Best,
Nina
0 votes Thank Flag Link Wed Oct 10, 2007
one of the way to find out is to go to Zillow.com and monitor the sales activity, Also realtor of contact can be handy to give all the details and statistics
0 votes Thank Flag Link Sat Jun 9, 2007
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