'Another strong month': York County housing market rebounding after slump
The York County housing market is continuing its rebound after Realtors struggled for months with a weakened market due to COVID-19, according to the region's real estate association.
In August, 738 homes were sold in York County, a 21% increase from the same month last year, when 610 homes were sold, according to statistics provided by the Realtors Association of York and Adams Counties.
Despite a boost for the month, overall sales from January to August this year were down by 5% compared with 2019. So far this year, 4,027 homes had been sold, compared with 4,255 homes sold in the same period last year.
"August was another strong month for activity. The available inventory levels are half of what they were last year at this time," said RAYAC President Heather Kreiger via email. "Homes are selling extremely quick because of a lack of inventory, and sellers are getting their asking prices or well above."
Kreiger added that the average house in York County is on the market for seven days.
She primarily cited Gov. Tom Wolf's reopening of real estate activity in May to account for the swell in housing sales.
Wolf's stay-at-home order in March due to the COVID-19 pandemic stalled in-person real estate work for nine weeks.
"There are buyers who want to buy," Kreiger said. "There is not enough supply on the market, and so this is the root cause for the escalating prices and what is driving the days on market down to historically low levels."
A few school districts, including Hanover, Northeastern and York City, saw a decline in housing sales for August.
Only 23 houses were sold in Hanover, a 23% decrease compared with August 2019, when 30 houses were sold.
Northeastern saw a 2% decrease in August sales; and York City had a decrease of 8%.
York Suburban experienced rapid growth in home sales in August, with a 100% increase when compared with 2019, according to RAYAC's latest statistics. A total of 50 houses were sold in the district last month, compared with 25 in 2019.
Housing sales are broken down by school district in the organization's report.
In August, 778 homes were put “under contract,” meaning that the houses went on the market, a buyer wrote an agreement and it was accepted by the seller.
So far in September, 300 homes have been put under contract in York County, Kreiger said.
"These numbers tell me that we will likely see strong sales numbers again in September," she added. "I believe we will continue to see similar statistics as we have seen over the last couple of months."
— Reach Tina Locurto at email@example.com or on Twitter at @tina_locurto.