Low inventory levels continue to dog housing marketJuly sales reported for Harrisburg area, York County
Home prices are rising in the midstate as the inventory of homes for sale remains remains tight.
The Realtors Association of York & Adams Counties reported a 1 percent drop in July sales for York County, while the median-sale price rose 2 percent to $175,000 for the month.
"Qualified buyers are facing challenges with a shortage of homes for sale and multiple-offer situations," said Deborah Goodling, RAYAC's president for 2017.
Despite the slight dip in July, year-to-date home sales in York County are up 4 percent, according to the association. There were 3,355 homes sold through July. The median-sale price through July also was up 4 percent over last year, rising to $165,000.
By comparison, Adams County home sales were down 4 percent through July with 623 closings. The median-sale price in the county was $174,000, up from $170,000 last year.
Over the past two years, the midstate housing market has consistently seen much bigger monthly and quarterly sales increases, often double-digit increases.
But sales are slowing despite consistent demand among buyers. Because sellers are harder to find, there are often multiple offers on homes that do hit the market, especially those priced below $200,000, generating concern among local Realtors.
Meanwhile, new construction, which is largely left out of the association data because builders typically avoid listing their homes on a multiple-listing service, has been picking up.
Home sales for the Harrisburg area also were reported this week by the Greater Harrisburg Association of Realtors.
July was relatively flat for the market with 936 home sales, down from 938 a year ago but up from 895 in July 2015. The association tracks sales in Cumberland, Dauphin and Perry counties, as well as homes listed on its MLS in surrounding counties, such as Lancaster, Lebanon and northern York.
The median-sale price in July increased to $180,000, up from $175,500 last year.
Cumberland County saw the most home sales in July with 323, followed by Dauphin County with 317.
Still, Cumberland County sales were down from 374 last July. At the same time, the median-sale price jumped nearly $10,000 to $199,900. The average days on market for a listing was 57, an increase from 49 days in 2016.
In Dauphin County, sales were 308 a year ago, so they are still rising. As is the median-sale price, which hit $164,900, up from $155,900 last year. Average days on market dropped to 44 from 72 last year, according to the association.
Of the 936 homes sold in the Harrisburg area in July, 537 were under $200,000. Another 249 were between $200,000 and $299,999.