The Pennsylvania housing market in February 2025 presents a complex landscape with varying trends across different metrics. The Median Sales Price for homes in the state stands at $282,700, reflecting a decrease of 1.3% year-over-year. This decline in sales price contrasts with the Median List Price, which has increased by 4.2% to $303,700, indicating a potential gap between seller expectations and buyer willingness.

In terms of Price Per Square Foot, the median price has risen to $175, marking a 5.7% increase from the previous year. Similarly, the Median List Price per square foot has seen a 5.9% increase, reaching $186. These figures suggest a trend towards higher valuation of property space, despite the overall decrease in sales prices.

The volume of Homes Sold in Pennsylvania has decreased by 4.7% year-over-year, with 7,184 Homes Sold in February 2025. Pending Sales have also experienced a significant decline of 11.1%, totaling 9,479. New Listings have dropped by 11.8% to 9,441, indicating a contraction in market activity and possibly contributing to the reduced sales figures.

Inventory levels have slightly decreased by 1.2% to 21,286 homes, while the Months of Supply have increased by 10% to 3 months. This increase in supply suggests a slower market, with homes taking longer to sell. The Median Days on Market have risen by 6% to 51 days, further supporting the notion of a cooling market.

The average sale to list ratio remains stable at 97.9%, showing no significant change from the previous year. However, the percentage of Homes Sold above list price has decreased by 1.2% to 26.7%. Price Drops have increased by 1.0% to 22.6%, indicating that sellers may be adjusting their expectations to align with current market conditions.

Finally, the percentage of homes going off the market within two weeks has decreased by 2.1% to 45.4%, suggesting a slower pace in buyer decision-making. Overall, the Pennsylvania housing market in February 2025 reflects a mix of rising list prices and declining sales activity, pointing to a market in transition.