York County housing market is ripe for spring sellers
Though inventory continues to be low in the York County housing market, spring weather is right around the corner, and Realtors say sellers are bound to come out.
"While January and February are typically slower months in the real estate business, we are gearing up for the traditionally busy spring buying and selling season,” said Ken Worley, president of the Realtors Association of York & Adams Counties.
"We usually see a surge of buyers and sellers," he said. "We have the buyers right now, we just need the sellers."
According to RAYAC statistics, only 17 fewer homes — a decrease of 5 percent — were sold in February 2018 than in the same month in 2017.
Worley said increases around 3 percent in home sales and median sale price are typical for York and Adams counties, and between 5 percent and 10 percent would be considered a good increase.
In York County, that increase was higher for median sale price — 9 percent — for the first two months this year compared with last year because of low inventory.
“We are at the lowest inventory supply since we started tracking the monthly inventory in 2011," he said.
What the county doesn't want is to see sale prices get too high, as they did in 2006 before the big market crash.
Recent low inventory has caused homes to sell either for full price or over their list price, but Worley said prices are generally stable.
Though he doesn't know what's causing the low inventory, he expects more homes to go on the market once the weather gets warmer.
January-February: West Shore School District sold more than twice as many homes from January through the end of February in 2018 than during the same period the year before, with a 56 percent increase.
York City, Dallsatown and South Western school districts also saw increases of about 20 percent.
Overall, 10 districts increased in home sales during that period from 2017 to 2018, with six decreasing — the largest being Hanover and Red Lion, with 38 percent each.
But in total home sales, there was no change — 660 were sold during that period each year.
Fourteen school districts experienced a rise in the median sale price of their homes from the period of January-February 2017 to the same period in 2018, with only Northeastern York and Spring Grove school districts showing a small decrease.
Northern York school district had the highest increase of 40 percent from $179,607 in 2017 to $251,000 in 2018.
York County's combined median sale price for all districts rose by 9 percent to $164,900 in the first two months of 2018 compared with the first two months the year before.
February: Nine school districts decreased in home sales this February compared with the same month in 2018, and five increased, creating an overall 5 percent decrease for the county during that period.
But it's not a significant number — only 17 fewer homes were sold in 2018.
Dallastown saw the biggest increase in home sales, selling 65 percent more homes this February than last year, and the second highest increase was in Northern York School District, which sold 44 percent more.
Northern York's increase was offset by Northeastern York, which decreased in home sales by 44 percent.
Median sale prices for York County experienced relatively small changes from February 2017 to 2018. The largest increase came to South Western School District, which rose 27 percent from $144,700 to $184,000.
Spring Grove School District had the largest decrease, falling 23 percent to $175,500.
Overall, the county's median sale price rose 4 percent to $165,000.