Metropolitan Statistical Area (MSA):
Chambersburg-Waynesboro, PA is a Metropolitan Statistical Area (MSA) comprising counties including .
There is no doubt that the Chambersburg-Waynesboro, PA metropolitan statistical area (MSA) has seen some ups and downs in the housing market over the past few years. However, there are some definite trends that have emerged in recent months that suggest that the market is on the rebound.
One of the most notable trends is an increase in home sales. In fact, according to data from the Chambersburg-Waynesboro Association of Realtors, home sales in the MSA were up nearly 10% in 2017 compared to 2016. This is a trend that appears to be continuing into 2018 as well.
Another positive trend is an increase in median home prices. While prices had been stagnant or even declining in some areas of the MSA over the past few years, 2017 saw a healthy 5% increase in median prices. This is good news for both buyers and sellers as it indicates that values are on the rise once again.
Finally, there has been a decrease in inventory levels throughout the MSA. This trend began last year and has continued into 2018. Low inventory levels often lead to increased competition among buyers and can ultimately drive up prices.