Published April 16, 2024
York County Real Estate Market Update- Q1 Insights with the Bigach2Follow Team
Experience the Market Insights: Before digging into the detailed recap, we invite you to watch the video presented by the Bigach2Follow team at Keller Williams.
Welcome to the Market Minute with the Bigach2Follow Team! We're thrilled to bring you the latest updates and insights from the real estate market in York County. As your trusted local experts, we're here to provide you with valuable data and trends to help you navigate the ever-changing landscape of real estate.
Let's dive into the numbers for March and take a closer look at how they compare to last year's stats, as well as discuss the overarching trends we've observed throughout the first quarter of this year.
In March, the average home price in York County stood at $441,000. While prices have remained relatively stable throughout the first quarter, we've seen a notable 8% increase compared to the same period last year. This upward trajectory reflects the enduring strength of the local housing market.
To summarize: Prices have shown resilience in 2024, surpassing the figures recorded in 2023.
One key factor driving this trend is the ongoing low inventory levels. Despite fluctuations, inventory remains tight, with York County currently boasting a 1.5-month supply. This scarcity of available homes has exerted upward pressure on prices, sustaining their upward momentum even amidst rising interest rates.
As of our latest report, there are 519 active homes on the market, representing an increase of 55 homes compared to this time last year. While new listings experienced a boost in January and February, we observed a slight dip in March, likely attributed to the timing of Easter and spring break. However, we anticipate a continued uptick in listings as we head into April.
On the seller's side, York County homeowners are reaping the benefits of a competitive market, with sellers receiving an average of 96.5% of their asking price—an impressive 1% increase from last year.
Moreover, the average days on market for the first quarter stood at 41 days, reflecting a slight decrease from the previous year's figure of 45 days. This indicates that homes are selling at a slightly faster pace, underscoring the strong demand prevailing in the market.
It's important to note that the insights we provide are tailored specifically for York County, ensuring their relevance to a broader audience. As the adage goes, real estate is inherently local, and these figures serve as a valuable guide for anyone navigating the York County market.
If you're curious about the specific numbers for your property or interested in exploring the market dynamics of your desired neighborhood, we invite you to reach out to us. Whether you're buying or selling, the Bigach2Follow Team is committed to providing you with the information, insights, and guidance you need to achieve your real estate goals.
Thank you for tuning in to our Market Minute update. Stay tuned for more valuable insights from the Bigach2Follow Team!
*All data provided by the Canopy MLS, Inc. Current as of April 5 2024
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