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Real estate market posts hot May in York, Adams counties

Median sales prices in York and Adams counties posted double-digit increases through May as the real estate market stayed hot.

According to the Realtors Association of York & Adams Counties, the median price for a home in York County was $210,000 through the first five months of 2021, 12% above what it was at this time in 2020. Year to date in Adams County, the price was $235,000, which was 10% more.

In May alone, prices rose 6% in York County from a year ago ($203,500 to $215,000) and 17% in Adams County ($195,750 to $230,000).

The percent of list price received was 101.3% in York and 100% in Adams, meaning the average house sold for at least its asking price.

“The spring real estate market for 2021 continues to be a fast-moving market,” Tina Llorente, president of the association, said in a release. “The demand for a home purchase is widespread. That combined with historically low inventory levels has led to multiple offers on properties and increases in home sale prices.”

Days on market also reflects the pace of activity. For May, on average, a house sold in five days in York County and six days in Adams County.

The months’ supply of inventory in May – the months it would take for current inventory to sell at the current sales pace – was 0.86 for York and 1.14 for Adams. Anything under six months is considered a seller’s market.

Also, the number of homes sold is way up in both counties, but those totals are skewed because May 2020 figures were depressed by the COVID-19 shutdown. In-person real estate activity resumed in mid-May last year.

Sales jumped 80% in Adams, from 64 to 115, and 129% in York, from 265 to 608.

Year to date, they’ve risen 15% in Adams County (404 to 464) and 29% in York County (1988 to 2,573).

High demand, short supply: Home prices in York and Adams continue to climb

Robust buyer demand coupled with low inventory continued to drive up home sale prices in York and Adams counties, as the real estate market kept sizzling in April.

“The spring real estate market for 2021 is red hot,” Tina Llorente said in a release from the Realtors Association of York & Adams Counties, which provided the data.

“The demand for a home purchase is widespread, multiple offers are prevalent and days on market are swift,” said Llorente, the association’s 2021 president. “But the continued story surrounding real estate is a lack of inventory,” and its effect on housing prices.

Last month, the median sales price rose 13% in Adams, from $219,900 to $249,000; in York, the increase was 6%, from $205,000 to $217,500.

Year to date, the figures are 9% ($215,000 to $235,000) for Adams County and 13% ($184,900 to $209,250) for York County.

The school district in Adams with the largest median sales price jump was Upper Adams, at 26% ($179,900 to $227,450). In York, it was Northeastern, at 27% ($191,100 to $242,200).

As for houses sold in April, 95 settlements were recorded in Adams, 8% more than last year, and 568 in York, 33% more than in 2020.

A caveat: In April 2020, the state was in the midst of a COVID-19 shutdown of in-person real estate activity, so some totals that month are unnaturally low.

Through the first four months of this year, 349 houses sold in Adams County, a 3% increase over 2020, while 1,960 home sales were recorded in York County, 14% more.

Some other signs it was a strong seller’s market in April:

  • In Adams, the percentage of list price received was 100%, days on market was 14, and months supply of inventory was 1.16.
  • In York, the percentage of list price received was 100.6%, days on market was five, and months supply of inventory was 0.91.