York County home sales up, prices down in October

York County home sales in October ticked up slightly while prices cooled off a bit in some areas.

The Realtors Association of York and Adams Counties reported 511 home sales for the month, up from 508 a year ago, while the median-sale price dipped to $170,000 from $175,000 a year ago.

RAYAC said October sale prices fell by more than 20 percent in three school districts — Central York, Spring Grove and South Eastern — which pulled down the countywide median.

“The median price depends on homes for sale in certain school districts,” said Ken Worley, the association’s president.

In York County and much of Central Pennsylvania, the inventory of available homes for sale remains pretty tight, he said. When a home hits the market, multiple buyers often are pouncing to buy it, which has sped up the pace of sales.

With steady buyer demand and a dearth of homes, home prices have been rising this year.

Indeed, the median-sale price for the year is $175,000 in York County. That is up from $169,900 through 10 months of 2017, the association said.

Of the 16 school districts in York County, all but three have seen the median-sale price increase this year over last year. And those districts that are down are only off slightly from last year’s pace.

For example, Spring Grove’s median-sale price this year is $180,000, down 3 percent from $184,900 last year. Spring Grove also has posted the biggest increase in sales this year at 17 percent — with 337 homes sold compared with 287 last year.

For the year, median-sale prices in the South Eastern and West York school districts are off 2 percent and 1 percent, respectively, the association said.

“I don’t think we’re really seeing prices readjust,” Worley said, despite the fall and winter months being known for weaker sales activity. “The buyers are out there and they are definitely going to buy something if the right property is there.”

Given the inventory shortage, home sales for the year in York County are down 3 percent. There were 5,183 homes sold through October compared with 5,345 last year.

Dallastown Area School District leads the way with 558 homes sold this year.

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.

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