Despite home shortage, York County sees strong fall housing market
It's a good time to sell a home in York County.
The majority of area school districts saw an increase in median sale price and number of homes sold in September, according to the Realtors Association of York and Adams Counties.
“September was a strong month," RAYAC president Deborah Goodling said in her monthly report.
More than 500 homes were sold, a 7 percent increase from September 2016, and the median sale price increased by 5 percent to $169,900 for 2017.
The market is in a good place right now because the county still has a low inventory, meaning houses in good condition that fall within the median price range will sell quickly, Goodling said.
Pennsylvania has seen low inventory across the state because sellers aren't moving as often, thanks to trends of students moving back home after college or homeowners renovating rather than selling, she said.
The norm used to be moving within seven to 10 years of ownership.
In York County, 12 school districts increased in median sale price from September 2016 to 2017, and four decreased.
Eastern York, Hanover, South Eastern and South Western school districts all had more than a 20 percent increase in median sale price.
Dallastown school district saw the biggest rise in home sales for September, with 64 homes sold in 2017 compared with 45 in 2016 — a 42 percent increase.
"There is still a demand for listings to accommodate buyers’ needs," Goodling said in the report.
Though there is a shortage of inventory, buyers also are looking for homes that require fewer renovations, so the two go hand in hand, she said.
Fall is a slow season for the housing market, Goodling said, but the 656 homes currently under contract is a strong number compared with a year ago at the same time.
Statewide, Goodling said, Pennsylvania also is doing well for the month of September.
For the year to date, 4,500 homes sold in York County, a 5 percent increase from 2016.
The school district with the biggest increase in homes sales from January to September compared with 2016 is York Suburban, and the biggest median sale price increase is 40 percent for the York City School District.
"I think it’s been a very good year for 2017," Goodling said.