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York County home sales flatten out amid low inventory, sending prices higher

As York County Realtors gear up for the busy spring buying season, concerns persist about a shortfall of homes for sale, which could drag down sales this year.

The Realtors Association of York & Adams Counties this week reported that while buyer demand remains high, home sales have been flat so far this year. After the first two months of 2018, there have been 660 homes sold across the county, the same number reported after February 2017.

The association gets its data from the Bright MLS, a new Mid-Atlantic home-listing service that took over MLS services from local Realtor associations last fall. But local Realtor associations like RAYAC still have the option to issue their own monthly sales reports.

In York County, steady buyer demand for a dwindling supply of homes has led to multiple offers on many homes, which has sent home prices higher, according to RAYAC. 

The number of active listings across York County in February was 1,440. In February 2010, by comparison, there were 2,832 homes for sale. As the midstate housing market has continued to rise — annual home sales have increased for six years — the inventory of homes for sale has steadily dipped (see chart below).

“This obviously impacts the number of home sales and sales prices,” said Ken Worley, the association’s current president.

Prices have jumped 9 percent in York County over the last year. The year-to-date median-sale price in the county is $164,900, up from $151,480 a year ago, the association said.

The median-sale price across Central Pennsylvania counties last year increased between 5 percent and 6 percent. Home prices have increased in the region for the last five years.

School district breakdown

By school district, Central York and Dallastown Area led the way for most sales through February with 68 and 63, respectively.

Northern York has seen the highest sale prices. The median-sale price in Northern after two months was $251,000, up from $179,607 a year ago. South Eastern and Southern York also have seen the median sale price exceed $200,000 so far this year.

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