York County sees historic rates for 2019 housing market
The housing market in York County is scorching hot, with recent statistics revealing that trends this year are increasing at a steady rate.
According to the 2019 January-May report provided by the Realtors Association of York and Adams Counties, the county is seeing growth in a number of areas, including the number of houses sold.
Reaching a new record low, the median number of days a house in York County stayed on the market before being sold in May was 17 days, RAYAC said in a news release.
And, during the first five months of 2019, approximately 2,367 houses were sold in York County, a 5% increase from last year. The median sales price was $179,900, a 6% increase from last year's $169,900.
"The market is hot for sure," said RAYAC President Heather Kreiger.
Kreiger attributed the rising demand to three key components: low inventory, low interest rates and an increase of potential buyers.
"People are finally comfortable in financial situations again, and they're wanting to move, to upgrade," she said. "It's not just a local trend; it's something we've seen across the United States."
Kreiger said the biggest factor contributing to the rise in sales is that because there are fewer homes on the market right now, the demand for a house increases and becomes more competitive.
Although Adams County saw a decrease in certain aspects of the housing market, Kreiger said, Adams County is an area with a lower population when compared with York.
"York is a larger market, so you're going to have more inventory being sold," she said.
— Reach Tina Locurto at firstname.lastname@example.org or on Twitter at @tina_locurto.