what PA town are Jersey people moving to?
I hear people from Jersey work here but are moving to Pennsylvania for cheaper houses but still maintaining their pay. so what towns are counties are people moving to? I would like suggestions . I currently live in the new brunswick area. I would love to move to PA but to be as close as possible to Central Jersey. Any suggestions?
Pennsylvania
Nudged by a state economy that has lost its luster and many residents, Pennsylvania housing is a buyers market. Pennsylvania never really experienced the boom market of the national real estate frenzy. So its local markets were never out of whack, providing the state with housing markets that are now beginning to show appreciation with a few exceptions.
Pennsylvania was an industrial giant state in the big steel days that are now part of the nation’s by-gone era. New businesses are beginning to move into the state. Housing appreciated at a low three to five percent average for several years, which accounted mainly for a higher cost of living.
City Median Price Forecast
Philadelphia $ 198,000 1.8%
Pittsburgh $ 114,000 5.3%
Lancaster $ 160,000 3.2%
Allentown $ 217,000 1.1%
Erie $ 109,000 4.0%
Philadelphia is a leader of the financial and insurace industries and is home to 10 Fortune 500 companies. The Philadelphia housing market gently boomed and the hay day didn’t last long. Prices rose marginally to a median of $198,000, one of the highest in the state. It’s a buyers market in Philly and it will muster a slight increase of 1.8% in appreciation in 2007.
In Pittsburgh, where foreclosures are up and the market is controlled by the buyers, the median price of $114,000 for a single family home will see a pop in appreciation towards the end of 2007 to net 5.3%. Pittsburgh housing prices are some of the lowest in the country for an urban center.
Lancaster is on the other extreme of the price range. The median hit $160,000 before the market slowed, but will top out 3.2% higher than last year in 2007. Little Erie way upstate on the Canadian border, where the winter snows often blow to make it one of the coldest places in the country will do slightly better at 4.0% on a median of $109,000 by year’s end.
The Lehigh Valley Region embraces the three cities of Allentown, Bethlehem, and Easton making it Pennsylvania’s third largest metropolitan area. On the old site of Bethlehem Steel Corporation’s manufacturing facility a new multi-million dollar casino is planned to be built in 2007 which promises to bring new growth and jobs to the area.
In Allentown the homes are the most expensive of anywhere in Pennsylvania. Allentown homes are selling at a slower pace than a year ago after most topped the $250,000 price point. The median price in Allentown is now $217,000, and it will see a low 1.1% hike in 2007.
The city of Williamsport has gained it’s fame for being the home of the Little League World Series. Williamsport is home to just some 30,000 residents and the community has prospered with new housing developments as one of the most affordable housing markets in the north-east.
Home prices in little Williamsport soared and now have a median of $121,000. Some builders are offering incentives in Williamsport to sell off their left over inventory. Williamsport hit a home run in the national scheme of things in real estate.
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