Despite pandemic slump, York County Realtors expect new records by year's end
Though the pandemic brought York County's housing market to a virtual standstill earlier this year, local real estate agents say they expect 2020 will exceed last year's record numbers.
York County real estate started off strong in January after a historic 2019, but things took a turn in March, when, to help prevent the spread of COVID-19, Gov. Tom Wolf issued a stay-at-home order that froze the home sale business.
Wolf reopened real estate in May, and Realtors have been reporting extensive growth since, according to Heather Kreiger, president of the Realtors Association of York and Adams Counties.
The median number of days that homes stayed on the market dropped to single digits this year — seven days — a first in York County history, she said.
"With interest rates continuing to remain at historically low levels, I am not surprised to see buyer demand so strong in 2020," Kreiger said.
In November, 620 homes were sold in York County — a 34% increase over the same month in 2019, according to statistics provided by RAYAC.
Additionally, 6,026 houses were sold in the first 11 months of 2020, which is a 2% increase compared with 2019, in which 5,897 homes were sold.
Though overall growth continued to slump in June after the governor reopened the market in May, a sharp increase in pending sales was the first indicator the market would bounce back, Kreiger said.
There were 911 new pending sales, the "best month" for York County in five years, she said.
Since, York County's housing market continued to trend higher.
Several school districts, including Red Lion Area and York Suburban, saw significant increases in the number of houses sold in November.
Approximately 24 houses were sold in the Red Lion district, a 140% increase compared with last November, when 10 houses were sold.
York Suburban saw an 86% increase in home sales relative to the same time last year.
Only South Eastern experienced a decline in home sales, reporting a 54% decrease.
Housing sales are broken down by school district in RAYAC's report.
"Gauging by the number of properties with sales pending and the interest still in the market as we entered into December, I won't be surprised to see 2020’s number of sold units top those in 2019," Kreiger said.
— Reach Tina Locurto at email@example.com or on Twitter at @tina_locurto.