TheBurg

03.16 | theburg | 25 the average sales price was $97,241 in 2010. In 2011, the average sales price dropped drastically to $85,339 then dropped further in 2013 to $75,058. e last two years have seen a reversal. e 2015 figures show a 22 percent increase since 2013 to an average price of $91,600. e low numbers in 2011 were not unique to Harrisburg as the country experienced a bursting of the housing bubble. Harrisburg, however, was experiencing other challenges, financially and politically, over those years. Now, the opinion of the city has changed, said Hoover, who credited this improved perception as the main factor behind the current upswing. "ere were just so many negative things, and there were very few positive things before, so that's the biggest trend—people have changed their viewpoint," he said. "Whether they're first-time homeowners or they're investors, you need to have that confidence in the immediate market, and now a lot of people do." More AttrACtIve Hoover has been a realtor in central PA for six years and, during that time, he, too, has observed many of the changes in the city and optimistically foresees continued growth. "Interest rates, although they might inch up, will remain relatively low, and the economy, although not good for everyone, has incrementally improved," he said. "I don't see much to stop this positive momentum, particularly as we get more things in Midtown." Hoover cited the opening of the Millworks and the expansion of the Harrisburg Midtown Arts Center as two important recent projects that have made the neighborhood more attractive to buyers. "ere are different venues I could point to, but it doesn't necessarily have to be restaurants," he said. "It's just things that people can walk to." e desire to live in a walkable city is something that both Davis and Hoover have noticed from clients such as young professionals, first-time homebuyers and empty-nesters looking to downsize. "I can't put a particular amount of weight on it, but I believe the trend going forward is people wanting a house in a walkable community, and Harrisburg is definitely that," Hoover said. "Some areas more than others, but that's the biggest demand, particularly in Midtown. at's a trend that I've seen for several years, but I've seen it grow in the last year or two years." e city's walkability is not only attractive to potential homebuyers, but also to renters. e rental market is another facet of Harrisburg's housing market that's been trending up. "e rental market was always good and remained good," Hoover said. "Even during the time when people didn't have the confidence in the overall market, they were at least willing to rent. ey wanted to be in Midtown, they wanted to be in Uptown, but they weren't convinced that maybe the market wasn't going to get worse." And, in fact, developers have been responding to the growth in rental demand, with many new apartment buildings—particularly high-end renovations of historic buildings—coming on the market over the past couple of years. LUX, Walnut Court and COBA are a few examples of recently renovated multi-dwelling buildings. is year, both Harristown Enterprises and WCI Partners will add significant new rental inventory to downtown and Midtown. Some of those renters eventually turn into homeowners. "Renters who are renting upper-end properties, if they decide to stay, or when they decide to stay here, they turn into really good buyers," Davis said. "ey're having a good experience in the city, and they want to stay." Both realtors also have had a growing number of clients moving to the city from larger metropolitan areas. ese buyers, or renters, are attracted to Harrisburg because of the amount of space they can get for their hard-earned money compared to the cities they came from, the realtors said. "Folks coming from those areas really help our values because they see value where natives don't," Davis said. "But do I see a big trend of that? I don't know if it's a huge trend, but it's happening." What do the next five years hold? If demand continues, perhaps developers will begin to build single-family homes. e city's new construction market—unlike the growing multi-family segment—has seen little action for many years. "e city isn't like Lower Paxton Township or Silver Spring Township, where they're building new stuff all of the time," said Davis. "[Zip code] 17102 doesn't really have anywhere to go other than a few townhomes up at the [Broad Street] market." So far, Blouch appears delighted with his choice to ditch "the boonies" for city life. Not only is he within blocks of places like Little Amps Coffee Roasters, Alvaro Bakery and Zeroday Brewing Co., but he's met "tons" of people in his first year in Harrisburg. "is works for me because I'm very social," he said. "I'm more of a city person. I like being around other people." Over the past couple of years, property sales have increased considerably in downtown, Midtown and Uptown Harrisburg. Price appreciation has been more uneven, dependent upon the quality of the properties on the market. rISINg hbg SALeS Harrisburg property sales, 2010 to 2015, for zip codes 17101, 17102 and 17110. Source: Central Penn Multi-List. yeAr 2010 $97,241 $85,399 $86,702 $75,058 $82,713 $91,600 153 92 $94,000 $61,875 $68,750 $60,000 $75,000 $88,750 2011 140 121 2012 130 125 2013 150 120 2014 193 115 2015 222 102 NuMber SoLD AverAge SALeS PrICe AverAge DAyS oN MArket MeDIAN SALeS PrICe

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