Explore the ins and outs of York County's real estate market and get special access to important insights from September 2023. Whether you're looking to buy, sell, or just interested in the property market, be prepared to learn, be inspired, and feel empowered as we share the details of the September 2023 York County Real Estate Market.
New Listings
To begin our examination, let’s delve into the variety of new properties that were introduced to the market in September. In September 2021, the market saw the arrival of 446 new listings. However, in 2022, there was a 14.6 percent decrease in the number of properties, with only 381 listings available. Fast forward to this year, 2023, and the market experienced a further reduction of 6.0 percent from the previous year, bringing the total to 358 properties.
Homes for Sale
Next, let's delve deeper by analyzing the inventory of homes for sale. In 2021, there were 354 homes for sale. In 2022, the inventory of homes for sale increased by 61.6 percent, with 572 homes on the market. This year, in September, we saw a decrease of 18.4 percent, with 467 homes for sale. Less than the previous year but more than in 2021.
Pending Sales
Turning our attention to pending sales, let’s investigate the numbers from September 2021. We saw 374 pending sales in 2021, and in the following year, we decreased by 23.5 percent to 286 pending sales. This year, we saw a slight increase of 2.4 percent with 293 pending sales.
Median Days on Market
Now, let’s take a look at the median days on the market in September, starting with 2021, where properties spent an average of 4 days on the market. Moving to 2022, there was an increase of 75 percent to 7 days on the market, and in 2023, we increased by 14.3 percent to 8 days on the market.
Months Supply of Homes for Sale
Now, let’s take a look at the Months Supply of Homes for Sale in September 2021, the supply was a mere 0.9 months. However, in 2022, the supply rose by 77.8 percent to 1.6 months, and in 2023, we rose again by 6.2 percent to 1.7 months. This means if new homes stopped entering the market, it would take 1.7 months to sell what's currently available.
Median Showings to Pending
Now, let's delve into the analysis of the median showings to pending ratio. In September 2021, it took a median of 11 showings to generate a pending sale. Moving to 2022, there was a decrease of 18.2 percent compared to the previous year, with 9 showings to pending. This year, we decreased by 11.1 percent to recording 8 showings to pending as the median ratio.
We hope you’ve found our comprehensive analysis of the York County real estate market insightful. If you’re considering selling your home this year, determining the right pricing strategy is crucial, and our team is on hand to offer our wealth of knowledge and assistance. Feel free to reach out to The Linda Hall Team at Century 21 First Choice. Let’s collaborate to realize your property aspirations for 2023!