Gettysburg PA Real Estate – 4/20/10 Thoughts

On April 21, 2010, in Uncategorized, by David Monsour

Gettysburg PA Real Estate has remained relatively strong despite nationwide decline in home prices.  The North East has been extremely resilient compared to the South East and West.  Some parts of the country saw declines as high as 63%.  Our market has taken a 10-15% hit on the aggregate which isn’t horrible, unless of course you’re a home owner trying to sell. 

The Gettysburg PA Real Estate Market had prices that were heavily inflated due to a large commuter draw from Washington DC and Baltimore.  There was big city money coming into a town with an average income of $40,000 a year.  Prices started to inflate to levels that couldn’t be maintained by local Gettysburg residents.  The 10-15% decline has finally started to make prices more realistic for local residents. 

Some may see the decline in prices as a negative, but I see it the other way.  Affordable home prices means more of the blue collar work force, that inhabits Gettysburg, can afford to have a home they can be proud of.  Everyone wants Realtors to predict the bottom, and while I can’t do that, I’d say now is as good of time as ever to purchase a home. 

If you’re looking for a Gettysburg Area home visit the search page on this site.

 

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