This week saw a record in sales growth for the Shenandoah market. It resulted in five homes selling over 30 days, which is a 25.0% spike from last week's number and also the highest amount since November. In comparison, Frackville led all other nearby municipalities with three sales. The median sales price rose dramatically to $15,000 over the latest reporting period for Shenandoah, up from $10,000.
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The number of home sales in the Shenandoah market rose 33.3% to four homes over the last 30 days, above the 2.0 monthly average. At the same time, close-by Frackville reported four home sales, the highest number from all the surrounding cities. Potential buyers should note that prices are coming down in Shenandoah, and for this period the median sales price slid from $15,000 to $10,000.
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Shenandoah is a larger than average city in Pennsylvania with 5,071 residents. Its population is shrinking slower than the rest of the state, at a 10-year growth rate of -10.2%. The Shenandoah market mostly consists of detached houses, accounting for 59% of the current homes in the area. The best school in the city is Shenandoah Valley Elementary School.
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Sales rose to three homes sold over the last 30 days in the Shenandoah market. Sellers can expect less competition, however, due to a six-week downward trend in homes coming into the market, now down to six for the same period. All indications show that the trend should continue, meaning less new listings over the next few weeks. The median sales price rose dramatically to $15,000 over the latest reporting period for Shenandoah, up from $10,000. Even after the uptick in sales, an elevated nine months of inventory tells us that Shenandoah is still a solid buyer's market.
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Over the last 30 days, the Shenandoah market showed healthy signs with two homes sold. It marks a 100.0% increase from last week's report, while also topping the average sales volume for the prior 12 months. Within the same time frame, Frackville had three sales, the most of all cities in the area. Potential buyers should note that prices are coming down in Shenandoah, and for this period the median sales price slid from $11,000 to $10,000. Despite the uptick in sales, there are still 12 months of inventory left to work through, meaning Shenandoah is still a definite buyer's market.
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Sales in the Shenandoah market fell to one home sold over the past 30 days. In addition, the number of sellers reducing their listing price is still in the midst of a downward trend with two price reductions in the same time frame. All indications show that the trend may be coming to an end, meaning more price reductions over the next few weeks. The median sales price dropped dramatically to $11,000, down from last week's $30,500. Along with the slip in sales, a relatively high 23 months of inventory indicates that Shenandoah is a solid buyer's market.
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The Shenandoah market might be slowing down in the coming weeks. Sales dropped this week to two homes sold over the last 30 days, and there is an identifiable downward trend in the number of new listings, with six going live in the same time frame. While new listings numbers suggested otherwise, months of inventory is on a four-week upswing, this week hitting 12 months. Shenandoah is a definite buyer's market, thanks to such a large amount of inventory to choose from and the pullback in sales numbers.
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The Shenandoah market extended a three-week hot streak this week, even as sales fell to three homes sold over the last 30 days. Prices are falling in Shenandoah, and this period the median price of all sales fell from $30,000 to $22,000. Shenandoah is a definite buyer's market, due to a big eight months of inventory left and aided by the dip in sales.
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Shenandoah is a much less affluent than average city in Pennsylvania with a median income of $23,599 per household. The population is also considered older than most with a median age of 41 years. Keep in mind, 43.2% of the homes in Shenandoah are owned, while 27.9% are rented. Topping the list of best schools in the city is Shenandoah Valley Elementary School.
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The Shenandoah market looked healthy in this week's report, as the number of home sales rose 33.3%, pushing the total to four homes sold over the last 30 days. At the same time, close-by St. Clair reported four home sales, the highest number from all the surrounding cities. The median sales price continued to rise, trending upwards for four weeks to reach $30,000.
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