York County housing market sees slight dip in January
The York County housing market experienced a slight dip in numbers of homes sold and median sale price in January when compared with figures from one year ago.
According to The Realtors Association of York & Adams Counties (RAYAC), the dip reflected in the January 2018 statistical report was anticipated and not a cause for concern.
In York County, 320 homes were sold during the first month of 2018, a 3 percent decrease from January 2017. The median sale price in York County was $164,450, a 2 percent decrease from the same month last year.
“We are still challenged by low inventory, which impacts home sales. Plus, there is traditionally less interest in home buying and selling over the holiday season," said Ken Worley, RAYAC president. "Keep in mind this is one month, and the numbers aren’t large enough to be statistically significant.”
According to the report, which compared figures from January 2017 with those of January 2018, Red Lion experienced the biggest drop of all school districts in the number of homes sold. Only 17 homes were sold, compared with 33 that were sold in January 2017, a 48 percent drop.
Northern York school district followed closely behind, selling only 12 homes compared with the 22 homes that were sold in the district during the same period last year, a 45 percent drop.
However, an increase in homes sold was reported in eight districts, led by Central York with a 43 percent increase, from 23 to 33 homes, and York Suburban, reporting a 24 percent increase, from 25 to 31 homes sold.
Two districts, Northeastern and York City, remained the same when compared with January 2017, selling 19 and 26 homes, respectively.
Central York experienced the biggest decrease median sale price at 14 percent, dropping from $170,000 to $146,000. Red Lion showed an 9 percent drop, from $154,500, followed closely by the West Shore's 8 percent drop, from $163,750 to $149,900. Spring Grove barely made the list of districts reporting decreases, as its median sale price dropped a mere 1 percent, from $177,400 to $174,900.
Southern York remained the same with a median sale price of $90,000.
Northern York experienced the sharpest increase at 49 percent, from $172,250 to $257,500, followed by Hanover, with a reported 30 percent increase, from $144,500 to $192,000.