Greater State College Area Housing Market Very Competitive

Local News
In real estate right now for the greater State College area it’s a seller’s market, as there are 30 less homes on the market than there were at this time last year.  Houses are selling at an average of around 247,000 dollars compared to 228,000 dollars at this same point in 2017.
 
Karen Eklund, new homeowner in Boalsburg recently experienced the housing market as a seller and 
“It was great as a seller, sold the house in about two weeks,” Eklund, said.
But as a buyer it was a lot more challenging.

“I would look at something and before I knew it somebody else had bid and then there would be five bidders against me,” Eklund said.  “I would bid the price and even sometimes a few thousand over the price and then there would be many people that would bid way beyond that.”
 
Karen’s realtor Annette Yorks says she’s seen some people bid $10,000 and even more and still lose the final bid for a home.

If you’re a buyer right now, Yorks says start planning with your realtor and find a way to make a competitive offer.

“Make sure you’re preapproved and that you’re ready to go, because when you see that home ou need to be ready to bid on that home immediately,” Yorks said.  “If this is the home for you, you need to have everything ready.”

Karen was able to buy the house she’s now in, in part because when the owner’s wanted cash, she was prepared.

“You have to be ready so that you can buy it on the spot.”

Yorks says the housing market goes in cycles and she sees the market in the State College area turning back to a buyer’s market next year, possibly mid next year.

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