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York County housing market seeing record prices

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York County homebuyers are paying record-high prices this year as the supply of homes for sale continues to tighten amid strong demand.

The Realtors Association of York and Adams Counties said Monday that the median-sale price through August was $175,000, up from $165,000 at the same time in 2017.

The record high for median-sale price in York County came in 2007 during the last housing boom. The price then was $174,900.

Prices could go even higher, Realtors say, as buyer demand remains high heading into the fall season. The average home sold in August spent just 22 days on the market.

That was slower than July's record pace of 19 days, but is still one of the fastest sales paces in history.

The lingering problem in York County and the rest of Central Pennsylvania is that not enough homeowners want to let go of their homes.

A shortage of homes for sale has limited buying opportunities, which has impacted county home sales. Through August this year, there have been 4,142 homes sold in York County, down 1 percent from 4,184 for the same eight months last year.

The biggest sales increases so far this year have been in the Eastern York and Spring Grove school districts. The number of homes sold was up 13 percent and 10 percent, respectively, over last year.

On the other hand York Suburban has seen home sales fall 20 percent, while sales in South Eastern have dipped 18 percent this year.

On price, York City has posted the biggest increase over last year. The median-sale price was $63,900 through August, up 21 percent over the same period last year.

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Jason Scott

Jason Scott

Jason Scott covers state government, real estate and construction, media and marketing, and Dauphin and Cumberland counties. Have a tip or question for him? Email him at jscott@cpbj.com. Follow him on Twitter, @JScottJournal.

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ritariya November 16, 2018 6:11 am

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CameronRobertson November 15, 2018 10:54 pm

There's definitely some sort of bubble going on. I'm seeing a lot of scary situations in the residential and commercial property market outside of the city where even the storage solutions in northern beaches in northern beaches are starting to be affected by the cost of land! I reckon that a lot of people are going to start seeing troubles trying to find a decent place to buy or rent if this increase is going to keep on going the way it has been!

ChristopherJames November 12, 2018 10:41 pm

When record prices are hit, we would always have to see the pattern that is currently trending in the property market. Are the prices reached because demand exceeds supply? Then we shouldn't be surprised when a plunging trend were to happen next.

mirjaalom September 11, 2018 4:28 am

thanks for content