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York County's housing slump continues into June despite boost in pending sales

Tina Locurto
York Dispatch
A sign advertises a house for sale in Glen Rock Borough Monday, April 13, 2020. Bill Kalina photo

The housing market in York County continued its slump in June, a trend that has accelerated throughout the COVID-19 pandemic. 

Last month, 483 homes were sold in York County — a 19% decrease compared with June 2019, according to statistics provided by the Realtors Association of York & Adams Counties.

Additional data shows that 2,481 homes were sold from January to June, a 17% decrease from the same time period last year.

In June, however, there were 911 new pending sales, the "best month" in five years of York County Realtor history, said RAYAC President Heather Kreiger.

A sign advertises a house for sale in Glen Rock Borough Monday, April 13, 2020. Bill Kalina photo

"Knowing that there were a number of new contracts in June, it tells me that July and August are going to be pretty strong sales months," Kreiger said. "We do still have a lack of supply, which has been a chronic problem all over the area."

Kreiger said while overall finalized sales were low in June, it doesn't reflect the overall housing market because the number of pending contracts was relatively high.

Realtors continued to cite COVID-19 and Gov. Tom Wolf's stay-at-home order for the market decline, which paused in-person real estate work for nine weeks. 

In May, RAYAC called on Wolf to reopen the real estate industry after April statistics showed York County's once-hot housing market had all but stalled amid the coronavirus shutdown. 

More:Realtors confident in York County housing market after May slump

More:Local Realtors 'thrilled' to get back to work

An order from Wolf on May 19 permitted Realtors to resume in-person business.

Several school districts, including Red Lion and South Eastern, saw the most significant decline for the number of houses sold in June.

Only 26 houses were sold in Red Lion, a 52% decrease compared with last June, in which 54 houses were sold. 

South Eastern saw a 37% decrease in home sales relative to the same time last year. 

Hanover experienced the greatest jump in home sales in June, with a 38% increase when compared with 2019.

Kreiger said she expects statistics to improve and that York County continues to be a "fast moving" real estate market.

In June, the average house stayed on the market for 19 days. 

Realtors also reported to RAYAC that there were several newly listed homes with multiple offers from prospective buyers who offered amounts over the list prices of the homes, Kreiger said.

— Reach Tina Locurto at tlocurto@yorkdispatch.com or on Twitter at @tina_locurto.