Metropolitan Statistical Area (MSA):
Lewistown, PA is a Metropolitan Statistical Area (MSA) comprising counties including Mifflin County.
There are a few different real estate trends happening in the Lewistown, PA metropolitan statistical area (MSA) right now. The first is that the average home price has been steadily increasing over the past few years. In 2016, the average home price was $129,000 and it has since increased to $137,000 in 2018. This is good news for sellers as they are able to get more money for their homes. However, it also means that buyers have to be prepared to spend more money on a home than they might have a few years ago.
The second trend is that there has been an increase in the number of homes being sold in the MSA. In 2016, there were 1,084 homes sold and in 2018, there were 1,247 homes sold. This is good news for both buyers and sellers as it indicates that there is more activity in the market and homes are selling faster than they were a few years ago.
The third trend is that inventory levels have been decreasing over the past few years. In 2016, there were 2,207 homes on the market and in 2018, there were 1,932 homes on the market. This decrease in inventory can be attributed to the increase in sales as well as some homeowners taking their properties off of the market due to not being able to find a buyer at their desired price point. This decrease in inventory can make it difficult for buyers who are looking for a specific type of home as they may have fewer options to choose from. However, this trend could also lead to an increase in prices as buyers compete for fewer available properties.
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