March 21, 2023
As the weather gets warmer and flowers start to bloom, the Shippensburg real estate market is also showing signs of growth and activity. In this spring newsletter, we want to provide you with the latest market updates and insights that can help you make informed decisions about your next move.
Market Update: Current Conditions
The Shippensburg real estate market is currently experiencing strong demand from both buyers and sellers. According to recent data from the local MLS, the median home price in Shippensburg has increased by over 10% compared to last year, with an average of <30 days on the market. This means that homes are selling quickly, and sellers have more leverage in negotiations. At the same time, buyers are facing a competitive market with limited inventory, which is driving up prices.
Projected Market Conditions: Next 2 Quarters
Looking ahead, we expect the Shippensburg real estate market to remain strong and stable over the next two quarters. Although interest rates are expected to rise slightly, they will still be historically low, which will continue to encourage homebuyers to enter the market. We also anticipate that inventory levels will remain low, which means that sellers can expect to receive multiple offers and potentially sell their homes for above asking price. However, buyers will need to act quickly and be prepared to make strong offers to secure their desired properties.
Tips for Homeowners: How to Make the Most of the Market
If you’re a homeowner looking to move, now is a great time to take advantage of the current market conditions. Here are some tips to help you make the most of the opportunity:
- Price your home competitively: Although the market is strong, buyers are still price-sensitive. Make sure to work with a local real estate agent to price your home competitively based on recent sales and market trends.
- Prepare your home for sale: With limited inventory, you want your home to stand out from the competition. Consider making minor repairs, decluttering, and staging your home to attract more buyers.
- Be flexible with your timeline: With homes selling quickly, it’s important to be flexible with your moving timeline. Consider temporary housing or storage solutions if you need extra time to find your next home.
Sell. Move. Forward.
The Shippensburg real estate market is showing strong signs of growth and stability, with limited inventory and strong demand from both buyers and sellers. If you’re a homeowner looking to move, now is a great time to take advantage of the opportunity. Remember to work with a local real estate agent who can provide you with the latest market insights and help you make informed decisions about your next move.