York housing market sees 40 percent growth in August
- A total of 593 homes sold in York County during August, a 40 percent increase over August 2015.
- The median home price is down 5 percent to $161,750.
York County's home sales have shown year-over-year growth for 21 consecutive months, and August proved to be a new high in that growth.
With a 40 percent increase in the number of home sales, August 2016 is the largest year-over-year increase for York in at least two years, according to the Realtors Association of York and Adams Counties.
Tony Thomas, RAYAC president, said the sizable increase, from 423 homes sold in August 2015 to 593 last month, was mostly because of a large number of settlements for houses that have been under contract since June or July.
"The results just didn't show up until everything was settled," he said.
August also marks the fourth consecutive month during which at least 500 homes were sold in the county. There were no such months last year, RAYAC reports show.
Thomas said the end of summer could bring that streak to an end as volume decreases, but he's confident the year-over-year monthly increases will continue.
West Shore and West York school districts saw particularly large monthly increases, jumping from 15 homes sold each in August 2015 to 45 and 41, respectively.
Thomas said he sees at least one school district experience major growth every year, and West Shore — which is currently up 41 percent in home sales this year — appears to be that district this year.
York City also saw a major home sales jump, from 22 to 52, in August, but its median sale price dropped from $46,200 to $10,500.
Thomas said that drop is because a major investor sold 24 properties for $7,500 each.
Those sales helped skew the median sale price numbers enough, Thomas said, that August's median sale price actually dropped 5 percent from last year to $161,750.
To date, York County's median home sale price, at $159,900, is still up 6 percent over last year, according to RAYAC's report.
With 3,797 homes sold so far this year, York County's home sale numbers are up 16 percent over last year. That figure, in fact, already passed the number of homes sold in York County through September last year or in all of 2011, RAYAC reports show.