LEMOYNE, Pa., April 19, 2024 /PRNewswire/ -- The spring homebuying market took off in March, with sales, listings and the median sales price all increasing from February, according to a report prepared for the Pennsylvania Association of Realtors®.

Home sales surged 23.6% from February to March, hitting 8,790 last month. However, sales are down 10.5% from March last year.

"We typically see an increase in activity in the spring season and this year we're off to a strong start," said PAR President Preston Moore. "This spring represents a window of opportunity for buyers and sellers who want to enter the market."

The median sales price of homes sold last month jumped to $224,757, up 9% from the previous month's price of $205,235. The median sales price is also up 10.5% from March 2023.

Home listings on the market increased 7.6% last month compared to February, reaching 33,233. However, listings are down 11.2% compared to the same time last year.

"These additional homes on the market are helping to meet consumer demand," Moore added. "Using a Realtor® to buy or sell a home provides numerous benefits to consumers, including market knowledge, access to listings, negotiation skills, guidance and support, along with market analysis. These benefits all help to ensure that buyers and sellers each have someone representing their best interests in the real estate transaction."

The Pennsylvania Association of Realtors® is a trade/professional association that serves more than 39,000 members in the commonwealth of Pennsylvania. 

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SOURCE Pennsylvania Association of Realtors