Welcome to the October 2024 Real Estate Market Update! The Linda Hall Team at Century 21 First Choice is excited to share the latest trends and insights from the housing market in York County and the broader MLS region. This month, we’ve seen some notable changes in inventory, days on market, and buyer activity. Read on to discover key highlights and what they mean for buyers and sellers in our community.
Homes for Sale
The number of homes for sale in October 2024 reached 11,283 across the entire MLS, marking a significant 26.2% increase from last year. In York County, the count rose to 751, up by 40.4% year-over-year. This increased inventory provides more options for buyers, though competition remains steady for desirable properties.
Median Days on Market
Homes are staying on the market longer, with the median days on market for the entire MLS at 22 days in October 2024, an increase of 83.3% from last year. York County also saw a rise, with a median of 22 days on the market. This increase suggests a slight shift in buyer behavior, possibly giving buyers more time to consider their options.
Months Supply of Homes for Sale
The months of supply, which reflects how long it would take to sell all available homes, increased to 3.0 months for the MLS and 2.7 months for York County. This represents a 25% rise MLS-wide and a 42.1% jump in York County, indicating a slightly more balanced market compared to previous months.
New Listings
New listings dipped slightly across the MLS, totaling 4,649 in October, a 3.2% decrease from last year. However, York County saw an increase of 16.3%, with 372 new listings. This localized increase provides fresh options for York County buyers and keeps the market active.
Pending Sales
Pending sales rose to 3,874 for the MLS, a 13.8% increase from October 2023. York County saw a similar trend with pending sales reaching 297, up by 17.9%. This uptick suggests strong demand despite the rising inventory, highlighting continued buyer interest in the area.
In summary, the October 2024 real estate market in York County and the broader MLS region reflects a gradual balancing of supply and demand. Increased inventory and slightly longer days on market indicate a more favorable environment for buyers, while steady demand underscores the attractiveness of our community. The Linda Hall Team is here to guide you through these changes, whether you’re looking to buy or sell. Reach out to us today to discuss your real estate goals!