York home sales dip in May 2018 compared to last year
Home sales in Adams County increased during the first five months of 2018 and in the month of May, while York County saw a decrease in home sales in both categories, the Realtors Association of York & Adams Counties reported.
Ken Worley, 2018 association president, attributed the change in home sales as compared to last year due to a “lack of inventory.”
“As a lack of inventory continues to plague the real estate market, we are seeing multiple offers leading to increased home sale prices,” Worley said in an association statement.
There were 440 homes sold during the first five months of 2018 in Adams County, and 2,253 homes were sold in York County, according to the association. Compared to last year’s numbers for the first five months, Adams saw a 3 percent increase; York a 1 percent decrease in sales.
When breaking out the month of May, the association points out that a total of 108 homes were sold in Adams County, a 13 percent increase. In York County, 560 homes were sold in May, which is a 6 percent decrease from 2017.
“Buyers are willing to pay more, even in some cases above listing price," Worley explained.
The median sale price in Adams County, compared to May 2017, increased 11 percent to $185,000. York County’s median sale price was $169,900, a 9 percent increase from last year, the association stated.
Median home sale prices in May were slightly higher: Adams County at $195,000, a 9 percent increase from last year; and York County at $174,900, a 13 percent increase from last year, according to the association.