York, Reading, Lancaster and their surrounding metro areas topped the list of metros nationwide with the fastest-selling homes, according to Stacker, which analyzed data from Redfin.
Only metro regions with more than 300 houses sold in April were included in the top 50 list. Metros are ranked by the least days listed for sale that month, with ties broken by the number of home sales.
· Ranked No. 1 was York, where Redfin reported that listings spent a median of six days on the market.
Elle Hale, past president of the Realtors Association of York & Adams Counties, wrote in an email: “Homes are moving at a quick pace, and buyers can’t hesitate if they want to purchase a home because it will get snapped up by another willing and ready buyer.”
The current association president, Reid Weinbrom, told the Pennsylvania Association of Realtors, “The scarcity of available homes is a significant factor driving our quick home sales. There is a strong demand to live in York. We have a prime location with proximity to major metropolitan areas. This accessibility appeals to buyers who seek a strong quality of life combining the benefits of suburban living with convenient access to employment opportunities, amenities and cultural attractions.”
· The Reading metro comes in at No. 2, with listings also spending a median of six days on the market.
This ranking is no surprise to Jason Burkholder, president of the Reading-Berks County Association of Realtors.
As the fourth largest city in Pennsylvania, Reading “offers a vibrant and growing downtown, a diverse population and a bright future ahead,” he said in an email.
Reading has what many people want, Burkholder noted: “affordable homes, a great quality of life with art and music all around, and walkable areas with fantastic eateries and shops around every corner.”
“The world is a bit of a smaller place now as well, and the ability of remote workers to live anywhere is part of what fuels the growth and speed of the market,” he added. And as they move into more affordable areas like Reading and its environs, “the easy commuter routes make the area appealing to buyers who want to easily return to larger cities … since it’s just a two- to three-hour drive from places like Philadelphia and New York.”
On a larger scale, the regional effort to bring passenger rail back to Reading, along with work already completed or underway at colleges like Albright and Alvernia, will only serve to increase amenities and home values, “so people know it’s a great opportunity for investors,” Burkholder said. “You can see their faith in the city as developers are taking on projects, partnering with the city and state representatives to bring revitalization and adaptive re-use to older buildings. As these projects move forward, there will be more affordable and attainable housing, for owners and renters.”
· Ranked third was Lancaster, also with a median of six days on the market.
Demand is high in the Lancaster metro area – which covers all of Lancaster County – yet inventory is low, Jeff LeFevre, a Realtor with Berkshire Hathway HomeServices Homesale Realty, wrote via email.
“Lancaster has (nearly) 130,000 more residents than Berks County and nearly 100,000 more residents then York County but less inventory,” he said.
A desirable destination for buyers, Lancaster County only offers 115 homes priced between $100,000 -$300,000, while York has 188 listings and Berks 131 homes at the same price range, LeFevre said. So it’s more expensive.
A good example of why prices are higher is competition. LeFevre said he just sold a house for $33,000 above asking price, winning out over five other offers.
The Stacker report also ranked the Harrisburg metro at No. 9, with a median of seven days on the market. Rounding out the top 10 were Evansville, Indiana.; Seattle; Cincinnati; Grand Rapids, Michigan; and Wichita, Kansas.
Paula Wolf is a freelance writer