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Pennsylvania

Pennsylvania, officially known as the Commonwealth of Pennsylvania, is situated in the northeast, mid Atlantic, and the Great Lakes region of the United States. Pennsylvania is the 33rd most extensive state in the US, being the 6th most populous in the country, and the 9th most densely populated of the all fifty states. Its four most populous cities include: Philadelphia, Pittsburgh, Allentown, and Erie. Pennsylvania is one of the 13 original founding states of the country, and its capital is Harrisburg.

General Market Conditions of Pennsylvania Real Estate

The state of Pennsylvania generally operates in a real estate buyer's market, meaning there is usually a plethora of inventory available at any given time. The state's general market conditions are best represented by the city of Philadelphia, where the average condo sells for $279,000 and is on the market for 146 days. Single family homes average $143,000 and generally stay on the market for 148 days.

Geography

Nicknamed the Keystone State, Pennsylvania has a total of 46,055 square miles, of which, 44,817 square miles are comprised of land, with just 490 square miles of inland water. Within its borders are prairie lands, lush river valleys, mountains, and rural countryside. There are 5 regions in the state of Pennsylvania, which include: the Allegheny Plateau, Ridge and Valley, Atlantic Coastal Plain, Piedmont, and the Erie Plain.

Climate

The climate of Pennsylvania varies because of its geographical location. Winters tend to be relatively more mild in the south, and summers relatively more warm in the same area. Summers are generally hot and humid, with daytime highs reaching into the mid to upper 80s, even into the 90s. Overnight lows in the winter can drop below freezing, but mostly remain in the 20s. Snowfall is common during the winter months.

Demographics

The demographics in the state of Pennsylvania are somewhat diverse, with 81.9 percent of its residents being white, 11.3 percent are black, 2.9 percent Asian, 0.3 percent American Indian and Alaska Native,1.9 percent being from two or more races, and 5.9 percent of the state's total population are of Hispanic or Latino origin, according to estimates by the United States Census Bureau.

Main Attractions

More popular attractions and destinations in Pennsylvania are: Hershey Park and Dorney Park, which are theme parks, the Pennsylvania Pocono Mountains, King of Prussia Shopping Mall, the Philadelphia Historic District, Lancaster Amish Country, and the Pennsylvania Grand Canyon. Other popular spots include: the Liberty Bell, the Franklin Institute, Reading Terminal Market, the Mann Center for the Performing Arts, Independence Hall, Citizens Bank Park, Lincoln Financial Field, and the Mutter Museum.

Economy

Pennsylvania is home to fifty Fortune 500 companies, which is only seven to nine fewer than some other states such as California and Texas. Pennsylvania's 2010 total gross state product or GSP of $570 billion ranks the state 6th in the nation. The largest industries in the state of Pennsylvania are manufacturing, agriculture, and banking. Philadelphia is considered its biggest economic contributor to the states, the other largest driver being Pittsburg.