Brought to you by: JALEX Real Estate Services

May 2013

Number of Active Listings in the Shippensburg school district area (per MRIS MLS system): 163

Number of Homes Sold in the period (3 months): 35

Absorption rate = # of homes sold / period (3 months): 11.67

Month’s supply of homes = Total active listings / Absorption rate: 13.96

(6 is considered balanced market conditions, 6 is a seller’s market and above 6 is a buyer’s market)

Total homes sold on the past 30 days, Shippensburg school district: 15

Median sales price: $166,900

High sales price: $240,000

Low sales price: $44,900

Median days on the market for all sold homes in the past 30 days: 192

May is upon us.  Pending sales are high.  Mortgage lenders are busy.  Shippensburg real estate agents are showing houses.

The number of Shippensburg area homes sold in the past 30 days is still low.  The current sales pace is keeping up with the number of houses being listed for sale.  The absorption rate in the Shippensburg real estate market is still high.  In the next few months the number of homes that sell will contribute to a more balanced market so long as the number of new listings for sale does not increase dramatically.

So what does this mean if you are buying?  The time is still good to find your home and take advantage of historically low mortgage interest rates.  It is still a buyer’s market overall.

If you are selling the thing to keep in mind is that while it is a buyers market the number of available homes is decreasing to buyer demand.  You will really see that over the next two months!  One thing is sure, the market is changing.  Nice houses at the right price are selling and they are selling quickly, sometimes with competing offers.  Houses not in good shape; not clean, not in good state, not at the right price will not sell.

If you are thinking about selling your home or property and would like to meet and discuss options, what we offer and the flexibility that we can provide you then give me a call at 477-9326.  JALEX sells more houses than any other Shippensburg real estate agency!

Steve Coover

Associate Broker, Owner

JALEX Real Estate Services

717-477-9326 Office – Shippensburg

Brought to you by: JALEX Real Estate Services.

3 bedroom Shippensburg home with fenced rear yard and 2-car garage.  Wood floors, hot water baseboard heat.  This house needs some work but has potential as a great single family home or rental investment.

Brought to you by: JALEX Real Estate Services.

4BR/2.5BA Colonial style Shippensburg home for sale.  .32 acres. fenced patio area, nice mountain views.  Inside; open kitchen/dining area.  Main floor LR and office.  Master suite w/ full bath and jacuzzi tub.  Separate laundry room.  Full basement, central AC and heat.  Public water and sewer. Call JALEX today for more information! (717) 477-9326.

Brought to you by: JALEX Real Estate Services.

4BR/1.5BA 3 story home.  Detached garage, private rear yard.  Excellent location right next to Shippensburg University and Old Main.  Classic character throughought including hard wood flooring, open staircase, stained glass windows, finished  attic space, finished basement family room and more.  Natural gas heat, public water and sewer. Call JALEX today for more information! (717) 477-9326.

Brought to you by: JALEX Real Estate Services.

3BR/2BA Double wide home in Bonnie Heights development, Shippensburg.  2000 model year home with 1588sqft.  Includes deck and patio area from the main entrance, paved driveway and large yard.  Interior features include; master suite w/ full bath w/ jacuzzi tub, open floor plan, separate laundry area, family room w/wood buring fireplace.  Monthly ground rent is only $250 and includes sewer and garbage utilities. Call JALEX today for more information! (717) 477-9326.

Brought to you by: JALEX Real Estate Services

5 Bedroom 2 Bath Shippensburg home close to schools and Memorial park.  .34 acres, mature landscaping, basketball court pved drive and 1-car garage.  Int features incl; wood flooring, cherry cabinets, family room addition w/fireplace, lower level laundry room and rec room.  Replacement windows throughout, electric heat pump and central AC.  Public water and sewer.  Call JALEX today for more information! 717-477-9326.

Brought to you by: JALEX Real Estate Services

April 2013

Number of Active Listings in the Shippensburg school district area (per MRIS MLS system): 159

Number of Homes Sold in the period (3 months): 35

Absorption rate = # of homes sold / period (3 months): 11.67

Month’s supply of homes = Total active listings / Absorption rate: 13.62

(6 is considered balanced market conditions, 6 is a seller’s market and above 6 is a buyer’s market)

Total homes sold on the past 30 days, Shippensburg school district: 7

Median sales price: $125,000

High sales price: $219,000

Low sales price: $25,000

Median days on the market for all sold homes in the past 30 days: 136

The Shippensburg real estate market as well as markets is the area is turning quickly.  Over the last 30 days there has been quite a number of homes go under contract.  New real estate listings have been slow to hit the market thus creating a situation where the number of homes disappearing from the market out paces the number of new homes reaching the market.  Although the absorption rate seems to have gone up over the past month, once these pending homes are sold that number should go down.  This is changing the overall look of the local real estate market as sellers are becoming more confident, multiple offers on homes are becoming more common place and prices are starting to go up.  Spring has sprung and the local Shippensburg real estate market is equalling out.

A point worth mentioning is the lack of suitable housing available for move up buyers.  These are homes listed for sale with 3 or more bedrooms, a little larger than that first home and often in a development.  because new construction remains slow these types of homes, usually priced in the high 190′s to mid 200′s are harder to find.  Lately homes priced in this price range have sold quickly and for close to asking price.  For sellers who may have a home that fits this category now is a great time to see if the market is ready for your house.  Many of these homes were bought or re-financed within the past several years and those owners do not have the equity position to sell in the market that we have seen over the past several years.  With the tide turning and appreciation returning to Shippensburg area real estate pricing,  NOW is a good time to sell!

If you are thinking about selling your home or property and would like to meet and discuss options, what we offer and the flexibility that we can provide you then give me a call at 477-9326.

Steve Coover

Associate Broker, Owner

JALEX Real Estate Services

717-477-9326 Office – Shippensburg

Brought to you by: JALEX Real Estate Services

3 Bedroom 2 Bath 1983 DEROSE mobile home in SME. Ground rent is $352 per month and includes sewer and trash. Buyer must be pre-approved by mobile home park management.  Call JALEX today for more information. 717-477-9326.

Brought to you by: JALEX Real Estate Services

2 bedroom 1 bath Ranch style home. .19 acre fenced rear yard, one car garage. Paved driveway. Natural gas heat, public water and sewer. Taxes are only $700 per year! Hard wood floors. Appliances included. Call JALEX today for more information. 717-477-9326.

Brought to you by: JALEX Real Estate Services

3 or 4 bedroom bi-level style home in Shippensburg.  Corner lot location with 2-car garage, public water, sewer, natural gas heat and central AC.  Rear deck and fenced rear yard area.  .23 acre lot.  Close proximity to town and I-81 for communting.  Open kitchen, living area, downstairs laundry room and family room currently used as a 4th bedroom.  Sellers prefer an August settlement. Call JALEX for more information. 717-477-9326.